1 NTTC/TRS Training Dallas 2009 TaxWise Tips Hopefully helpful items
Mar 26, 2015
1NTTC/TRS Training Dallas 2009
TaxWise Tips
Hopefully helpful items
2 NTTC/TRS Training Dallas 2009
LINKING
Some like linking... some don't If you're going to link, keep
the Tree simple If you're going to use the
Tree, make it a comprehensive Tree
3 NTTC/TRS Training Dallas 2009
F Keys
Get used to using them.Saves time going back to
the mouse
SHIFT and you'll get a different action
4 NTTC/TRS Training Dallas 2009
F Keys
F1 – Help (in any program) With SHIFT, you get IRS help
F2 – Saves the return
F3 - “Get the RED out” F3 again puts the RED back
5 NTTC/TRS Training Dallas 2009
F Keys
F5 – CalculatorThis is an invaluable tool
F7 – Return Status (a good starting point for quality review
F8 – Override (use sparingly)With Shift, 'un-override'
6 NTTC/TRS Training Dallas 2009
F Keys
F9 – Link to a formWith Shift, remove form
F10 – Close a formWith Shift, copy a form
7 NTTC/TRS Training Dallas 2009
RIGHT click> Delete
Gets rid of the whole row, not just “some of it”
If you delete just entries, you might keep some info you really don’t want
8 NTTC/TRS Training Dallas 2009
PunctuationHyphens in names are allowed
Commas, periods, slashes, ampersands are NOT allowed, and may cause a rejected return
9 NTTC/TRS Training Dallas 2009
Other AidsOpen EXISTING RETURNS screen
Can sort Client List alphabeticallyLeft click on “Client Name” field
Ascending or Descending sequence
The same sorting works with any listing of returns, such as Backup
10 NTTC/TRS Training Dallas 2009
Other AidsWhen “Foreign Tax Credit”
appears on 1099-INT, enter it immediately (out of sequence) to either a Scratchpad or Form 1116.
Otherwise, it may be lost or forgotten
11 NTTC/TRS Training Dallas 2009
Public Safety Officer (PSO)
When health insurance is deducted from pension checks, they are allowed $3,000 reduction in taxable income
Do not change Box 2, but go to Line 4 under /Exclusion on 1099-R
12 NTTC/TRS Training Dallas 2009
Tax-Exempt InterestWhen entering tax-exempt
interest, DO NOT include that amount in Column 1 (Amount), but only under the NAEOB column, with “E” as the code
13 NTTC/TRS Training Dallas 2009
ScrollingScroll carefully if using a wheel
mouse. You can bring up strange entries.
Not generally recommended
14 NTTC/TRS Training Dallas 2009
Dependency Help?If you need help determining who
provides more support, try a TaxWise form.
Add Form> “Dependent Worksheet”
Available on paper, but easier in TW
15 NTTC/TRS Training Dallas 2009
Control +Ctrl + Q brings up Query screen
Query on SSN, Last Name, DCN, etc.
Return Summary screen will show FILE NAME
Ctrl + YEnter SSN to locate & open return
16 NTTC/TRS Training Dallas 2009
Control +Ctrl + Y
When the list of returns is long, use this to open a return, instead of search thru a list
Also an instant verification of SSN when opening a return for QR
17 NTTC/TRS Training Dallas 2009
Ctrl +Ctrl + D
Will run DiagnosticsCtrl + EWill locate the next “error” in a
return – actually the next expected entry.
18 NTTC/TRS Training Dallas 2009
Child/Dependent CareMust have checkmark on Main
Info in order to populate Form 2441
Form 2441 will fill in City/State if you enter ZIP first, and hit Enter
19 NTTC/TRS Training Dallas 2009
EIC/CTC
ALL children are assumed to qualify for EIC. TaxWise will ask questions later. DO NOT make that determination on your own.
CTC is determined automatically, based on dependency & age. DO NOT override.
20 NTTC/TRS Training Dallas 2009
EIC/CTC (continued)
Enter children youngest to oldest
21 NTTC/TRS Training Dallas 2009
Your Tips?Sharing tips helps everyone
Communication among TRSs is essential to sharing
Do you have a new one to be added here?
22 NTTC/TRS Training Dallas 2009
HINTS/TIPS
Questions?
Comments?
Tips?