How to Start a New Return in TaxWise Online

Modified on Sun, 19 May at 11:27 PM

Follow these steps to start a new return in TaxWise Online:

Step 1: Starting a New Return

1. From the dashboard, click the “New Return” button.

2. Alternatively, you can start a new return from the “Tax Returns” tab by clicking the “New Return” button on the right side of the screen.

Step 2: Create New Return Dialog Box

1. Type the primary taxpayer’s Social Security Number (SSN) and confirm it by typing it again.

2. Select the preparer who will be working on this return. For this lesson, select “Maria.”

3. Select the template you want to apply to this return. TaxWise Online will default to the selected template, but you can choose a different one.

Step 3: Choose Data Entry Method

1. You have two options when starting a new return:

• Go to Tax Forms: Opens the return in forms view.

• Go to Interview: Opens the return in an interview-style format.

2. Click the “Go to Tax Forms” button.

Step 4: Use Prior Year Data (if applicable)

1. If this taxpayer had a return prepared last year, TaxWise Online will ask if you want to use the prior year data or create a new return.

2. Click the “Use Carry Forward” button to use prior year data.

Step 5: Main Information Sheet

1. TaxWise Online will open the return, displaying the main information sheet.

2. You can toggle between forms view and interview mode by clicking the “Switch to Interview” button in the top left corner and vice versa.

Step 6: Save and Close

1. Once you are ready, click “Save and Close” to exit the return.

Starting a New ITIN Return

1. From the “Tax Returns” tab, click the “New Return” button.

2. In the create new return dialog box, select the “Apply for ITIN” radio button.

3. TaxWise Online will notify you that returns created with this option cannot be e-filed.

4. Select the preparer and the return template you want to apply.

5. Click “Go to Tax Forms” or “Go to Interview,” depending on your preference. For this lesson, click “Go to Tax Forms.”