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Home   Help for Accountants   Tax - ProSeries   Tax - ProSeries Community   Tax - ProSeries Basic  
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01/26/2012 at 02:08PM PST
We’ve seen a scam e-mail regarding Intuit tax information floating around today. This e-mail was not sent or authorized by Intuit. If you ever wonder whether an e-mail from Intuit is real or fake, please refer to the link below.

Thank you

http://security.intuit.com/security-alerts.php
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Bowstring99
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10/12/09 9:02am PDT
Viewed by asker 10/12/09 7:30pm PDT

2006 M1PR - Failure of capital loss carryover to flow from the 1040 form.

2006 M1PR - Failure of capital loss carryover to flow from the 2006 form 1040. Does anyone know why a capital loss carryover would not flow from the federal 1040 form to the M1PR Property Tax Refund form?

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10/12/09 3:07pm PDT

Minnesota does not allow a deduction for capital loss carryovers on the M1PR.  So if the loss didn't carryover from the 1040 to the M1PR, it was handled correctly.  I have a couple of clients that have large capital loss carryovers with small incomes that the loss does not get handled correctly and I have to manually adjust the M1PR to get it to reflect the proper exclusion of the carryover.

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10/12/09 3:21pm PDT

I was not aware of that exclusion and was surprised that the program did not make that adjustment if it is the rule.  When working with multiple states, it would be nearly impossible to know all the facts pertinent to each state in my humble opinion!

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10/12/09 4:44pm PDT

I don't think it would be nearly impossible, I think it would be impossible.  Look at the bright side, you now have one less fact to learn about Minnesota anyway.

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10/12/09 6:33pm PDT

IRMN is back YAHOOOOOOOOOOOOOOOOOOOOO

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