1 NTTC/TRS Training Dallas 2009 TaxWise Tips Hopefully helpful items.

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


F Keys

Get used to using them.Saves time going back to

the mouse

SHIFT and you'll get a different action


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


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'


F Keys

F9 – Link to a formWith Shift, remove form

F10 – Close a formWith Shift, copy a form


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


PunctuationHyphens in names are allowed

Commas, periods, slashes, ampersands are NOT allowed, and may cause a rejected return


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


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


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


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


ScrollingScroll carefully if using a wheel

mouse. You can bring up strange entries.

Not generally recommended


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


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


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


Ctrl +Ctrl + D

Will run DiagnosticsCtrl + EWill locate the next “error” in a

return – actually the next expected entry.


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


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.


EIC/CTC (continued)

Enter children youngest to oldest


Your Tips?Sharing tips helps everyone

Communication among TRSs is essential to sharing

Do you have a new one to be added here?


HINTS/TIPS

Questions?

Comments?

Tips?

1 NTTC/TRS Training Dallas 2009 TaxWise Tips Hopefully helpful items.

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