jasdlm

I know this is probably the first thing you checked, but are the 1099-k and the schedule C both coded to the same spouse if a joint return?

Memory is that it is due on the due date of the initial estate tax return, including extensions. Going from memory, so hopefully others will confirm or correct.

Whoa! I deserve the thumbs down. Thanks Margaret! Tracy . . . don't listen to me . . . I read right over 'schedule C business'. I've got to either slow down or quit responding. I apologize.

I would amend the 1065.

6252 for reporting gain.

Choose Bulk Disposition and identify relevant assets.

I love this board, and all of you, my colleagues. Thanks so much!

My CA estimates are doing this weird thing where they are calculating an equal number for quarters 1 and 4, an increased number (though not double) for quarter 2, and nothing for quarter 3. I can't figure out how to change it without overriding. Any thoughts? Thanks much!

What is the skinny on this return? My clients are each SMLLCs. I can't determine whether they need to file the D 30. In reading the publication, they are not 'unincorporated', technically, although some of the 1099-Misc documents came in their individual SSNs and some in the Tax ID of the LLCs. ATX added a D 30 to the return, and there is a huge refund on the DC D 40 and a huge balance due WITH interest on the D 30. Sure there is some way to link the 2 if the D 30 is required? This Kansas Girl is mystified. I'm feeling like I can maybe override ATX and delete the D 30 given this portion of the instructions publication: WHO DOES NOT HAVE TO FILE FORM D 30 "It is a trade, business or professional organization where: - more than 80 percent of its gross income is derived from personal services actually rendered by owners or members of the business; and - Capital is not a material income-producing factor; or" They are both consultants; they sell their time. Any help is greatly appreciated.

This is what I do.

Agreed.

Donate button on the top right tab. I'm so guilty of not being consistent about this. I have no idea what made me think of it at noon on 27 March, but I'm so glad I did. Posting this in case this has fallen through the cracks in anyone else's 'taxed' brain like it had mine this year. Eric, thanks so much for providing this space for us. I truly can't imagine the season without this group of colleagues. Also, many thanks to Judy, moderator extraordinaire. If I missed any thank yous, I apologize.

Is there a report in ATX than can be run that shows dates filed last year (other than just looking at efile manager screen)? I'm wondering if there is some sort of practice management report.

I usually have my staff start calling sometime this week with a message along the lines of 'we are assuming that you have gotten your taxes taken care of, but if you need us to file an extension, let us know'. Usually brings them running in. I have had 20 people drop off this week. I guess they are calendar challenged. I was going to have my assistant make calls on Monday, but the flow was so steady, I decided to hold off. Now she'll have far fewer calls to make. I'm down to 2 or 3 that i haven't heard from, but it was 25 or so at the beginning of the week, so I think it's pretty standard!

I love it when people don't come to my office! More time for me to prepare returns and fewer episodes of clients handing me one document at a time and saying 'this is my W2' after staring at it intensely for several seconds . . . it takes everything I have to be patient during these types of 'meetings'. I send secure .pdf's to clients, and they scan the 8879 back to me. Seems to work okay and no postage. Credit card fees . . . aaargh. Sounds like a $10/return across the board fee increase to me!

Since it is about certifying identity and protecting against identity theft (my understanding), I always answer 'physically present' if I have seen the taxpayer at any time during the season. I also answer 'physically present' if the individual dropped off tax information and my staff engaged with him/her. Eager to know how others interpret this. I was basing this decision on my assumption of what they were trying to accomplish with this field.

Thanks to both of you! Lion, just to confirm, are you saying in your first sentence that if the parents contributed more than 50% of her support then they can file MFS even if daughter has a filing requirement? The kids definitely have a filing requirement, as you mention in your 3rd point, but I don't have the information to do the calculation for 50% of support. I think the kids actually lived together all year, and parents paid tuition, but I'm not positive. I might have to investigate further IF I'm understanding your post correctly. Thanks much. The spouse with hire earnings has been my client for years, as have the parents and grandparents. The 'dependent' spouse is new to me.

Mine actually does that all the time. I always have to close the program, and I often have to restart my machine. The program has been kicking me out 5 or 6 times daily - randomly. The other 3 users in my office (all with licenses, but the same software running off the same server) are NOT experiencing this. Hmmm.

Taxpayer and spouse married in 2018. I filed the joint return (both were college students for part of the year), claimed education credits, etc. Joint income of over $70,000. The return rejected because one of the spouses, the one who made less, was claimed by the parents because parents paid tuition and wanted to claim AOTC AND paid preparer told them they could claim the child, and the married couple would just have to file married filing separately. Income by that spouse was around $14,000. Parent is unwilling to amend return. Says couple will have to file MFS. Can I legit do that? The pub says that the married couple has to be filing only to claim refunded withholding or estimated taxes paid. Can one even file MFS without claiming oneself? As I reread the pub, it is talking about the rules for a Joint return, which MFS would not be. I guess maybe the clients can file MFS and just not claim the already claimed spouse? I can't find something specifically on point, and I have not had this situation before. Thanks in advance.

The AOC is only refundable if the student is 25 or older generally. See the instructions partway down the page at this link: Also, how many years has the AOC been claimed, because there is a limit of 4 regardless of who claimed. Maybe I'm not understanding the question. https://www.irs.gov/instructions/i8863

I wait eagerly every weekday for the door to close after my last employee leaves. I have an amazing team, but I need quiet and no interruptions to just slog through returns. I, like Lion, take very few appointments. I don't have the patience anymore for individuals to hand me one document at a time after staring at it for several minutes trying to tell me what it is. The appointments I do take have to be before 15 March. I make a few exceptions, but a very few. With the late 1099-div forms this year, I'm only half-way through the returns I need to complete, and I'm starting to panic a bit. On March 23rd, I always take an official 'count' of what's waiting in the queue and how many returns I have to do per day to meet deadline. Aaargh! Why do we do this to ourselves. This is a crazy profession!

Add form 8962? Are you looking for a place to calculate the PTC?

I have reported Bitcoin Sales for a client. He has been in bitcoin from the beginning. He keeps a spreadsheet of buys/sells (at my request) with dates purchased/sold in the format acceptable by the IRS. I enter summary totals, and I attach his spreadsheet as a .pdf. He has short-term and long-term gain, and he is meticulous about tracking buys/sells (which I think is important). Some of the Bitcoin companies also pay dividends, which I report on Schedule B. I have not had any problems/questions/rejects with this approach, and one year he made over $2mil, so it would have been noticeable. Eager to hear whether I've been handling it the way others would.

When filing a Schedule C for a Pastor who is a statutory employee, I have simply been taking the reduction for the non-taxable income/total income % as a negative expense on the Schedule C. Is there another way this is supposed to be reported that I am just missing? Thanks.

Yes, Randall. That is the way I am reading the instruction. I looked it up initially because my gross amount was less than the taxable amount, and I felt certain something had to be wrong with the software. However, when I read the instructions, I interpreted them to say that IRAs should only be listed in 4b if the taxable amount and gross amount are not the same, which is exactly what the software was doing on my end. I guess I didn't understand the OP's question.