jasdlm

Bump

I found the thread. Unfortunately, I don't know how to 'link' it or refer to it, so I posted in it to 'bump' it for you. Wish I was better at technology.

Is there DNI?

Mine also crashes totally when I click the X. I have turned on autosave. It has actually helped me out in prior years (knock on wood - nothing has happened yet this year). I usually lose at least one complicated return per year and have to start over.

Is a portion of the real estate owned by non-IRA money?

If the property is owned 20% by non-ira sources, it is a prohibited transaction. That is ugly. However, you might want to double-check the facts. I would think that if a client had gone to the trouble to set this up, he would have used an IRA administrator that specializes in this and would not have allowed a disqualifying set-up. Alas, maybe I assume too much, but it just seems strange that the IRA administrator would not have advised the client appropriately. Your client is prohibited from 'self dealing', also, so I assume he has a property manager that is caring for the properties and handling the leasing, etc. And of course, I'm sure none of his friends, children or family members are living in any of the properties! Good luck.

I think MaxEmail sounds fabulous. I just entered my zipcode in the website, and it says there is nothing in my area. Does anyone use a similar service with which he/she is pleased?

I agree with Catherine. I often take the income so I can get the credit for clients. They often end up several hundred dollars ahead.

These children are all so beautiful! My son is 10, so I'm not in a hurry for grandchildren yet, but I am enjoying yours.

I complete it.

One more thing: Please see Q3 in the following excerpt from the DOL website. http://www.dol.gov/ebsa/faqs/faq-aca22.html I don't like this answer, and I would be happy to be wrong. Eager to hear what others say.

Easytax, I got that same email. After reading it, I read the following and decided to advise clients against reimbursing through a section 105 plan. https://www.irs.gov/pub/irs-drop/n-15-17.pdf I would certainly be eager to hear others' thoughts on this issue.

I use ATX, also.

The RMDs are the taxpayers responsibility. For the clients in their late 70s, file a 5329, complete part IX, and file with the 2015 tax return without adding the penalty. I have always had good luck under that scenario. (The clients need to take their late RMD immediately.) With respect to the 40 year old client, I'm not sure what the best approach is, other than it needs to be quick. I always use 'correction of the error as soon as the taxpayer became aware' as one of my statements (assuming it's true) in my response letters. You will still need the 5329 - probably filed stand-alone, and a letter with a good explanation. Eager to hear what others think is best in this second scenario.

This has happened to me 3 times this morning. I wish I knew what it was about my setup that causes it to happen since some of you have no problems at all. It was constant last year, and from this morning's experience, I assume this year is not going to be any different.

I thought this went into effect for the 2016 tax year (2017 filing season).

Don't drive like my brother!

Yay! That has been very annoying.

Congratulations. Don't forget about us when the next busy season rolls around! We look forward to seeing you.

Thanks much to both of you. It is a Schedule C. The problem is, I have no itemization of what the reimbursement is for or how the number was calculated. I'll keep working for information.

Client dropped off at 8:30 this morning and told my assistant he needed the return by 1:00 today. i just flat out said "not going to happen", and my staff called and conveyed the same. Message back was 'if she can get it done at all, I'll give her a hug'. I'll get it done, and collect my hug, a fee, and hopefully some of his wife's cookies, but if I start down that 'need it at X time' road, it will get uglier every year.

Box 16 is $2,268 more than Box 1. HI in Box 12 of 5,467, 403(b )of $3,000, and moving expense reimbursement of $2,184. Box 14 says '14D, $2,815.60', PA LS 21.65. Thanks for any help.

Taxpayer works for a State University. State Income in Box 16 is higher than Box 1 income, but I can't figure out what the adjustment is for. It doesn't tie to any of the numbers in box 14. I just skimmed through the PA instructions and didn't see anything. I'll slow down and try again, but does anyone know what this 'add back' is? Thanks much!

Client is an artist. Studio flooded in 2014 and work was lost/damaged. Landlord's insurance company reimbursed client tens of thousands of dollars for the unsold work. (No 1099 issued.) I'm assuming this is taxable sort of like replaced wages? I don't know what the work would have sold for (i.e. if client received a windfall or was shorted). Some work was completed; some in progress. Any one have an idea? There were also items damaged that were not work (supplies, etc.). There is no breakdown with the check. I'm not sure what to do. Now I'm having second thoughts. No losses claimed, but no gain? Maybe I'm too tired. Why can't I think this through?

I have had this situation. I live in a relatively small town, so I contacted the husband's preparer and got a 1099C issued (after preparer talked with husband). Might not be able to get away with that where you are, but I had my client's permission, and I did not ask the other preparer for any information; just provided him with information (i.e. bogus 1099 equals bogus deduction).