CRACKING THE CODE GROUP SUPPORT
For those who are going to be doing amended returns ad receiving tax refunds, to help with extra tips... View more
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Shanti posted an update in the group
CRACKING THE CODE GROUP SUPPORT 6 months agoK-1??
When you are correcting a K-1 are you supposed to check the box at the top that says “Amended K-1”? And do you white #’s in the box 17 “other information” and the STMT that is in that box as well?
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The K1 is addressed in The Jurat Rebuttal video around the 1:25 mark. He doesn’t specifically speak to line 17. That’s a good question. My experience says Box 17 isn’t necessarily related to income if you review the statement it’s referencing.
One would assume you check the Amended Return box if you are filing an Amended Return.
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Sean posted an update in the group
CRACKING THE CODE GROUP SUPPORT 6 months agoCTC and state for current tax return
In the training, there are details about dealing with prior year corrections. But I wasn’t able to pick up on the recommendations dealing with the current tax return year. I’m in California (a high tax state). I completed the CTC on federal taxes last month. Now would the reco be to fill out CA 540 and submit corrected informational returns…
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I completed my CA taxes last year using the CTC for the first time. For my CA taxes, I just filled out the 540 and sent my updated IRS transcripts which showed 0 income. I didn’t include the W-2s or anything else…just the 540 and the transcripts. Money hit my account a few weeks later. I DID send it USPS certified and with return…
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I also had to wait a bit for the transcripts to be updated. In CA, if CA owes you money, then there is an automatic extension until October 15. If you need to wait past April 15, an extension might be needed…
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Shanti posted an update in the group
CRACKING THE CODE GROUP SUPPORT 6 months agoIRS Transcripts
For an S-CORP, when we file this amended return are we supposed to also correct all of the 1099’s received in the name of the S-CORP with a Jurat Letter?
Is it possible to get the income transcript for your 1120-S filing for the S-CORP to make sure you have included ALL of the 1099’s with this amended return? Or is that even necessary?
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Tramain posted an update in the group
CRACKING THE CODE GROUP SUPPORT 7 months agoForm 4852
Has anyone filled out a 4852 for a 1099-R if so could you shed some light on what needs to be filled out an is that accompanied with a 1040 X if already filed in past years?
Also 2022 is the furthest we can go back correct?
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This is addressed in a few of the videos in the course. I believe the CTC Method and in the Live Q&A.
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You can go back three years to file amended returns. For 2022, the cutoff for filing an amended return would be 4/15/26.
Did you see scroll down to the other videos about filling out the 4852 when you are in the “The Cracking the Code Method” lesson? There is one that explains the how to fill out the 4852…I see what you are looking for now.…
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Blaine E Rider posted an update in the group
CRACKING THE CODE GROUP SUPPORT 7 months agocan someone clarify , for 2025 if im doing cover letter, 1099 corrected to 0, and what does amended 1040 mean if I dont have a 1040 , do I file with a platform then correct it or write my own 1040 corrected to 0 , I wont have a 1040 to get numbers from like the video shows, it not clear as to how and what this years filing of 1040 means,…
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You wouldn’t need an amended 1040-X for 2025, only the 1040 2025. Amended returns are for correcting returns that have already been filed. When you file for 2025 you’ll follow the CTC method, and you’ll have to do this on your own independent of a tax service. The videos for the CTC Method and the Live Q&A do a great job of explaining…
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Spencer posted an update in the group
CRACKING THE CODE GROUP SUPPORT 7 months agoJoint 1040
My wife and I file a joint 1040 every year. So should I put both her name and my name on the cover letter? For context: I am a business owner and she was a w-2 employee on our returns.
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Yes! I have! It’ll be different now with a trust structure but for previous years, yes
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Tramain posted an update in the group
CRACKING THE CODE GROUP SUPPORT 7 months agoStarting on the CTC
I haven’t filled taxes since 2022 so do i still need to do a 4852 an 1040x for 23,24 or just the 1040? Also is there instructions on how to fill out the 4852 correctly i dont think I seen it in the course. Any help will be appreciated
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Update I found what I was looking for 😆😏
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The first 30-40min of the Live Q&A vid does a solid job breaking down.
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Brandon posted an update in the group
CRACKING THE CODE GROUP SUPPORT 8 months agoUS Green Card Holder - Successful Amendment?
My wife and I are getting close to sending in our amended documents (1040x) for the previous 3 years (2022,2023,2024). I am born in America, but my wife legally obtained a green card in March of 2024, is there anything that I need to know before sending our amendments in since she is not a US born citizen? Thank you.
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Brandon posted an update in the group
CRACKING THE CODE GROUP SUPPORT 8 months agoWhen submitting 1040’s for past tax years, i.e. a 2023 W-2, do I need to use the IRS’s 2023 1040 Form, or can I use the current 1040 the IRS provides?
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Actually, you want to use the IRS form 1040X. It has a place at the top to fill in the year of the return.
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Thank you, I wasn’t far enough into the videos before asking that question. I see that now.
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Craig posted an update in the group
CRACKING THE CODE GROUP SUPPORT 8 months agocan I use the Freedom Peoples notary service for my email verification ?
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