Is There Mac Tax Software That Prepares Schedule K-1

11.09.2020by

Dec 29, 2019  If you have an LLC, you may be wondering why tax prep software doesn't include an LLC version. That's because the IRS doesn't recognize the limited liability company as a tax entity, and it sets a default (normal) way for LLCs to pay federal income tax. A one-owner LLC normally files and pays income tax like a sole proprietor, so use the software version that contains Schedule C.

  1. Is There Mac Tax Software That Prepares Schedule K-1 2017
  2. Mac Business Tax Software
  3. Is There Mac Tax Software That Prepares Schedule K-1 Instructions
  4. Is There Mac Tax Software That Prepares Schedule K-1 2016
  5. Is There Mac Tax Software That Prepares Schedule K-1 Form

Mar 19, 2020  TaxSlayer is another tax software program and is one of the best solutions available for any user wanting an affordable pricing option for their tax filing services. TaxSlayer offers a basic free program along with four other filing solutions depending on how complex your filing needs are. TaxSlayer lets tax filers choose one of two different ways to file — quick or traditional. Click Other Income to expand the category, then click Estate or trust income (Form 1041 Schedule K-1) Click Add to create a new Schedule K-1, or click Review to review a copy already created The program will proceed with the interview questions for you to enter the appropriate information.

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With Drake Tax there are no separate modules to buy – all federal and state packages are included for individual and business returns.

Common Features

  • Familiar features - Data entry and program features are essentially the same across all tax packages.
  • E-filing is included, for any return that can be e-filed. You can transmit federal and related state together or separately (if necessary and allowed by the state).
  • Returns can be stored as PDFs, so you can email the return to your client. Use Drake Documents to keep your electronic documents organized, helping you transition to a paperless office.

Federal Packages

With Drake, you can prepare any of the following return types.

Form 1040 Series

Includes all states with personal income tax.

Form 1065 Series - Partnerships

  • Prepare Form 1065 returns and partner Schedule K-1s.
  • Items from Schedule K are automatically carried to the Schedule K-1 and partner basis worksheets, and prorated among partners based on ownership percentage. When interests are transferred, you can indicate the new percentage. Amounts can be overridden as need. You can also track adjusted basis for each partner.
  • State e-filing is available for Michigan SBT and Massachusetts. More states will be added as they begin to accept e-filed partnership returns.

Form 1120S Series – S Corporations

  • Prepare 1120S returns and shareholder Schedule K-1s. The Schedule K-1s can be exported to the shareholder’s 1040 return, eliminating double entry.
  • Automatically carries items from Schedule K to the Schedule K-1s and prorates among shareholders based on shares owned. For share transfers, percentage is calculated based on days shares held by each shareholder. Amounts can be overridden as needed. You can also track adjusted basis for each shareholder.
  • Includes all states that require a return for an S corporation. Massachusetts and Michigan SBT can be e-filed.

Form 1120 Series – Corporations

  • Prepare Form 1120, 1120-C, and 1120 state returns for all states that require a return for corporations.
  • Form 1120X is available for amended returns.
  • You can also prepare Form 1120-H returns for homeowners associations.
  • Includes e-filing for federal 1120 returns, as well as for Kansas, Massachusetts, Michigan SBT, and Wisconsin.

Is There Mac Tax Software That Prepares Schedule K-1 2017

Form 1041 Series – Estates and Trusts (Fiduciary)

  • Prepare any of the nine types of 1041 entities.
  • Client instruction letters can be prepared for the estate, beneficiaries, or both.
  • All 46 states that require a return for an estate income tax are included.
  • E-filing is available for the federal return and for Massachusetts.

Form 990 Series – Exempt Organizations

Prepare the following returns:

  • Form 990, 990-A, 990-B, 990-EZ, 990-N, 990-T or Form 990-PF
  • California Form 199
  • New York forms CHAR500 and CHAR500-C
Is There Mac Tax Software That Prepares Schedule K-1

Form 706 Series – Estate and Generation Skipping Transfers

Also includes California, Connecticut, Florida, Maine, Massachusetts, New Jersey, New York, Texas and Wisconsin.

709 Series

Prepare all 4 pages of Form 709.

Download the full list of included federal forms and schedules (PDF).

State Tax Packages

Drake Tax includes everything you need for filing individual and business returns in 48 states and the District of Columbia. For more information, download the fact sheet for your state:

TaxTron Individual License for Macintosh

Completely FREE To start for the current tax year! You can prepare up to 20 returns using the software but you may need to purchase a license to print and/or file your return depending on your situation.

Our 2019 tax preparation software does not require a license for returns under $31,000 total income (including seniors) or full-time students (4 months or more duration as indicated on your T2202A form).

TaxTron Individual License for Macintosh allows you to prepare and file one return with a total income of $31,000 or more and 19 other returns with a total income of under $31,000 each.

Previous years’ software requires a license to print and/or file any return. Do macs require antivirus software.

Mac Business Tax Software

Electronic filing: is only supported for 2016, 2017, 2018 and 2019 tax years for Canada Revenue and 2016, 2017, 2018 and 2019 tax years for Revenue Quebec. For all other years you will be able to prepare and print the tax returns for paper submission.

System Requirements:

  • TaxTron 2019 requires Mac OS 10.9 or higher. This product will NOT work on OS 10.8 or lower
  • TaxTron 2017 and 2018 requires Mac OS 10.9 to Mac OS 10.14. This product will NOT work on OS 10.8 or lower
  • TaxTron 2011 to 2016 requires Mac OS 10.7 to Mac OS 10.12

Need more than one return over $31,000? Check our product list for theFamily Pack!

 Get the Windows Version Get the Mac VersionTaxTron Exclusions

TaxTron Features and Benefits

No Multi-Tier Software

TaxTron’s software package contains virtually all the forms you will possibly need, in order to file your personal tax return. No additional or hidden fees! Have peace of mind - whether you have investments or just filing a T4 - you will be charged the same low price, every time.

Inexpensive

TaxTron is competitively priced against our competitors and many returns can actually be filed for free. TaxTron is free for individuals filing a T1 or TP1 return with incomes under $31,000 as well as students with 4 months or more on their T2202 forms.

Easy to Use Yet Powerful

Is There Mac Tax Software That Prepares Schedule K-1 Instructions

TaxTron has built-in guides right in our software - so, a complete novice will be able to fill out their taxes quickly just like a pro! If you’re a professional, TaxTron’s Form Mode allows you to dive straight into the tax forms directly, helping you prepare tax returns in as little as 10 minutes or less.

Go Modern

TaxTron’s software is built with the future in mind. You can Netfile your personal tax return with Canada Revenue and Revenue Quebec straight from our software. You can also print your tax return for your own records or submit it to the government via mail.

Is There Mac Tax Software That Prepares Schedule K-1 2016

Experienced

Is There Mac Tax Software That Prepares Schedule K-1 Form

TaxTron has been helping Canadians prepare their own tax returns for over 20 years. TaxTron was the first available tax software for Macintosh computers, and one of the first to support electronic filing of returns - making us your best choice in Canadian tax software!

Not Your First Time?

TaxTron can roll information forward from last year’s return if you prepared your return last year using TaxTron, saving you time and effort in getting this year’s taxes done. Whether it’s your tuition amount, RRSP limits, or something as simple as name and address, TaxTron will copy that information over so you will minimize potential errors.

Mac Install Software For All Users
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