Creating a tax return in Keystone Tax Solutions Pro is simple. To assist your preparation of a Form 1040 return, review the IRS Instructions for Form 1040. Follow the steps below to create a tax return in Keystone Tax Solutions Pro. Step 1 – From the Main Menu of Keystone…

To re-answer the Schedule EIC Questions on a return, from the Main Menu of the Tax Return (Form 1040) select: Payments, Estimates & EIC Earned Income Credit Complete SCHEDULE EIC Once you complete all of the required questions, click Exit. In the EIC Information Edit Screen, you can select Additional Due…

U.S. Citizens who lived in Puerto Rico for the entire year (bona fide residents) do not have to file a U.S. federal income tax return if all of their income was from sources within Puerto Rico. If income was received from sources outside of Puerto Rico, a U.S. federal tax…

Tax-Exempt Interest is reported on Schedule K on Corporation returns. To enter tax-exempt interest on a Corporation return, from the Main Menu of the Business Tax Return (Form 1120) select: Schedule K – Other Information Tax-Exempt Interest Received/Accrued This line is also where you report exempt-interest dividends received as a…

The tax program will automatically calculate most parts of Form 1040 by the information you enter. If you are trying to recreate a tax return that was done incorrectly, or if you are trying to force the program to accept a figure for a special situation, you may not be…

The taxpayer can exclude interest income from Series EE and Series I US Savings bonds if all of the following are true: The bonds were issued after 1989; The person in whose name the bonds were issued was age 24 or older before they were issued; The bonds were cashed…

Form Item and Box in Which It Should Appear Where To Report if Filing Form 1040 W-2 Wages, tips, other compensation (box 1) Form 1040, line 7 Allocated tips (box 8 ) See the instructions for Form 1040 Dependent care benefits (box 10) Form 2441, Part III Adoption benefits (box…

If you are a member of a reserve component of the Armed Forces of the United States (Army, Naval, Marine Corps, Air Force, or Coast Guard Reserve, the Army National Guard of the United States, the Air National Guard of the United States, or the Reserve Corps of the Public…

If the taxpayer has a balance due and would like to have the amount automatically debited from their checking or savings account, from the Main Menu of the Tax Return (Form 1040) select: Mark Return Electronic You will then be asked ‘Do You Wish to Enter an Electronic Payment for…

If you are going to key-punch into Keystone Tax Solutions Pro a return for a client who prepared the return themselves for the purposes of e-filing, from the Main Menu of the Tax Return (Form 1040) select: Mark Return Electronic Other E-File Information Verify the EFIN is correct Select Prepared…