2013 H&R Block At Home Lab Instructions, Whittenburg & Altus-Buller

Ch. 10 J&S Barbers

This is a partnership return, so you need to use H&R Block At Home, Business - install Business.

Open H&R Block Business 2013, and update it.

Select Create a new return, and select Next.

Select Partnership return, and select Next.

Select Whole Form, and enter the information for A and B. For C, select the JumpTo Linked Field box to the right. Select Bus Codes and enter 812111 for the business activity code. To return to the Form 1065, select Close Form, Return to Interview, and then Whole Form.

Enter the partnership name and address, and enter the information for D - use 95-676767 for the employer identification number. For E, enter 1/1/2013, and for G, select (1) Initial return. For H, select (2) Accrual.

Now you're ready to enter the amounts for income and deductions. Enter gross income on line 1a.

For salaries, select the JumpTo Linked Field box for line 9 and enter the amount on line 1. Return to the Form 1065. Enter the rent on line 13, and for line 14, select the JumpTo Linked Field box and enter the amount on the line for payroll tax. Return to the Form 1065.

To enter the depreciation, begin entering the amount on line 16a. The Calculated Field dialog box will open, and select Override. Then you can finish entering the amount. The area will turn pink because of the override.

To enter the amount for supplies, select the JumpTo Linked Field box for line 20 and enter the amount on the line for supplies. Return to the Form 1065 and review page 1.

From the tabs at the bottom of the window, select 2 for page 2. For Schedule B, check box 1a for Domestic general partnership. For 3a, select No, and for 3b, select Yes.

Now you're ready to enter the information for the two partners for Schedule B-1. Select Close Form, and at the top, under the Federal tab, select Sch K-1. The Take Me To... dialog box will open, and select Go To...

Select Whole Form, and at the bottom, select the Input tab. Notice the number 1 at the top, for the first record - the first partner. Enter the name, social security number and address for Emily Jackson. In the Percentages section, enter 50 for Profit. For G, select General partner. For I, select Active Individual. For J, in column i, override all three percentages to zero. For K, enter 0 for Qualified nonrecourse financing, and 25,875 for Other. For L, enter 20,000 for (b) Capital contributed during year (cash), and 80,000 for (d) Withdrawals and distributions (cash).

At the top, select Add New Record and enter the name, social security number and address for James Stewart. In the Percentages section, enter 50 for Profit. For G, select General partner. For I, select Active Individual. For J, in column i, override all three percentages to zero. For K, enter 0 for Qualified nonrecourse financing, and 25,875 for Other. For L, enter 20,000 for (b) Capital contributed during year (cash), and 80,000 for (d) Withdrawals and distributions (cash).

Now select the Global Info tab at the bottom. Under K-1 Options, for L, select Tax Basis. Select Close Form.

At the top, under the Federal tab, select Company. The Take Me To... dialog box will open. Highlight Details for Schedule B, Line 3b, and select the Go To button. Select Whole Form, and then, in the Select from partners column, select Emily Jackson. On the next line, select James Stewart. Select Close Form.

At the top, under the Federal tab, select Company. The Take Me To... dialog box will open. Select the Go To button, and then select Whole Form.

From the tabs at the bottom of the window, select 2 for page 2. For lines 4a and 4b, select No. Select No for lines 5, 6d, 7, 8, 9, and 10.

From the tabs at the bottom of the window, select 3 for page 3. Select No for lines 11, 12a, 12b, 12c, 14 and 18a.

To enter the information about the capital loss, select Forms, then Open Forms, then Form 8949 and then Open Forms. From the tabs at the bottom of the window, select Input. On line (a) for Form 8949 box, select C from the drop-down list. On line (b) enter 2/1/2013 for the date acquired and on line (c) enter 3/1/2013 for the date sold. On line (d) enter 0 for the proceeds and on line (e) enter 2,000 for the cost. Return to the Form 1065.

From the tabs at the bottom of the window, select 4 for page 4. To enter the information about the charitable contributions, select the JumpTo Linked Field box for line 13a, and enter the amount for line A. Return to the Form 1065.

From the tabs at the bottom of the window, select 4 for page 4. Select the JumpTo Linked Field box for line 19a, and enter 160,000 on line A, Distributions of cash. Return to the Form 1065.

From the tabs at the bottom of the window, select 5 for page 5. For Schedule L, select the JumpTo Linked Field for line 1, column (d). Select Sch L – Balance Sheet, and in the Ending column, enter the amounts for cash on line 1, accounts receivable on line 2a, equipment on line 9a, accumulated depreciation on line 9b, accounts payable on line 15, and notes payable on line 19b.

Save the file by selecting File/Save Return from the menu. Then back it up by selecting File/Backup Return...

To save the return in PDF format, select File/Print... from the menu, and then select the PDF icon. In addition to the tax forms in the text, the software will generate an Error Report, an Override and Estimate Report, a Form 8949 Page 2, a Schedule B-1, a Schedule D, a K-1 Statement for each partner, and four pages of supplementary information. It won’t generate Page 2 of the Schedule K-1s. Review the tax return.