Tax Returns

Tax Returns

Overview

Actions

Field Descriptions

Sub-panels/Related Information

Availability
  • Standard
  • Professional
  • Enterprise

Overview

Use the Tax Returns module to enter key details about federal and state tax returns.

Actions

Follow the instructions below to perform tasks such as creating, editing, and exporting Tax Return records.

To…

Then…

Create a Tax Return record

  1. Access the Tax Return Create form using one of the following:
    • Click Taxes > Tax Returns > Create Tax Return from the Navigation menu.
    • Click Create New on the Tax Returns List View.
  2. Complete the Tax Return Create Form. See Field Descriptions for information about each field. Fields that have an asterisk (*) are required; you must enter data in the field to save the record.
  3. Click Save to save the record and view its detail page, or click Cancel .

Display a list of Tax Returns

Click Taxes > Tax Returns > View Tax Returns.
The Tax Returns List View displays.

Display the details for a Tax Return record

Click the name in the Tax Returns List View.
The Tax Return Detail View displays.

Edit tax return information

  1. Access the Tax Return Edit View by doing one of the following:
    • Click Edit in the Tax Return Detail View.
    • Click the edit icon (pencil) associated with the record in the Tax Returns List View.
  2. Update the information. See Field Descriptions for information about each field.
  3. Click Save to update the record.

Suppress one or more records

  1. In the Tax Returns List View, click the Selection box associated with the record(s) you want to suppress.
  2. Click Suppress.
    A confirmation box displays.
  3. Click OK.
    The records are suppressed.

You can also suppress a single record by clicking Suppress on the Tax Return Detail View.

Update information related to multiple Tax Returns

  1. In the Tax Returns List View, click the Selection box associated with the records you want to update.
  2. Click Mass Update in the Actions dropdown.

For more information, see Editing and suppressing multiple records.

Duplicate tax return information

Click Duplicate in the Tax Return Detail View. Duplication is a convenient way of creating a similar Tax Return record. You can change and save the information in the duplicate record to create a new record.

Find and merge duplicate records

Follow the instructions in Merging duplicate records.

Export records

  1. In the Tax Returns List View, click the Selection box associated with the records you want to export.
  2. Click Export in the dropdown and follow the instructions in Exporting data.

Field Descriptions

Fields that have an asterisk (*) are required; you must enter data in the field to save the record.

Client

Click the client related to this tax return on the Clients Popup List View (displays upon clicking the Selection arrow) or the list of Clients matching the character(s) you enter.

Assigned to

By default, the record is assigned to the creator of the Tax Return record. To change the assignment, click the user on the Users Popup List View (displays upon clicking the Selection arrow) or the list of users matching the character(s) you enter.

Contact

If filing individually, Click the Contact on the tax return on the Contacts Popup List View (displays upon clicking the Selection arrow) or the list of Contacts matching the character(s) you enter.

Tax Year

Enter the tax year this return applies to.

Form Type

Click the type of tax return.

Attachment

Click Choose File and navigate to and select the file containing the attachment. The file name displays in the Select File box.

Return Type

Click the return type.

Filing Status

Click the tax return filing status such as single or head of household.

District

Enter the region where this return is applicable, such as a state, or a state and country combination.

Residency

For state returns, click whether this return applies to residents or non-residents .

Description

Enter additional details about the tax return.

Teams*

By default, your private team is assigned as the primary team. To change the primary team assignment, click the team on the Teams Popup List View (displays upon clicking the Selection arrow) or the list of teams matching the character(s) you enter.

To assign additional teams to the Tax Return, click add (+) and click the team as described above. For more information on assigning teams, see Assigning Users and Teams to Records.

This is a mandatory field.

Income and Liability section

Total Income

Enter the total unadjusted income dollar amount from the tax return.

Adjusted Gross Income

Enter the adjusted gross income as shown on the tax return.

Alternative Minimum Tax

If the client was subject to alternative minimum tax, enter the amount from the tax return.

Taxable Income

Enter the taxable income from the tax return.

Liability

Enter the client's total tax liability from the tax return (not the balance due).

Capital section

Short-Term Loss Carryover

Enter the amount of the short-term loss carryover.

Short-Term Capital Gains

Enter the amount of the short-term capital gains.

Long-Term Loss Carryover

Enter the amount of the long-term loss carryover.

Long-Term Capital Gains

Enter the amount of the long-term capital gains.

Filing section

Date Filed

On the Date Selector click the date the tax return was filed.

On File

Click the checkbox if a copy of the tax return is on file.

Sub-panels/Related Information

See also:

Tax Estimates

Tax Forms

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