jasdlm

I know this has been discussed before, but I am trying to keep my hair on and NOT stroke out. ALL assets are gone in 2014. Just gone. Can't roll over from 2013, because they are GONE THERE TOO (even though they were there when the return was efiled). 2013 shows depreciation amounts - just no assets. 2014 - NO depreciation amounts and NO assets. This is NOT okay on March 15th! I am trying not to cry or scream (mostly because I have neighbors). THIS IS NOT OKAY! (Yes, I am shouting. I apologize.)

I didn't realize it was a revocable trust under grantor control. If that is the case, I agree with JMdavis.

Thanks, Carolbeck! I am now set on 5 minute auto-saves!

Keep resending the same email. (The 'no 2014 donation' email.)

A client this year included photos from his dental exam (I guess). 8 photos of his teeth and the inside of his mouth from several different angles. Fascinating.

Is it possible for me to manually set my autosave to every 5 minutes? I know I did last year. I think Jack told me how, but I can't seem to figure it out this year.

I dutifully enter them individually because of the 'date of contribution' varying. Maybe I'm making it harder than it is. I really hate this form.

This is very good to know, because I have lost major work twice to this 'error'. I have not messed with the autosave settings. I can't remember how to set the time to 5 minutes. The last time I lost something, the last restore was 3 hours old.

I know I'm over-thinking this. TP has a rental house in AZ. No other AZ source income. Rental house generated a loss in 2014, but loss is suspended because of AGI. I do not have anything to report on an AZ return because line 17 is 0 on the Federal return, but I just want to verify there is nothing I should file.

REALLY hate it. I want to fire clients who make 17 trips to Goodwill every year. I get that the charities need the items, but I HATE this form.

Nothing? Best answer I can come up with since the deduction is limited. The Pub doesn't reference 'for one year's premium'. Eager to hear if folks have other ideas. The amount of qualified long-term care premiums you can include is limited. You can include the following as medical expenses on Schedule A (Form 1040). Qualified long-term care premiums up to the following amounts. Age 40 or under – $370. Age 41 to 50 – $700. Age 51 to 60 – $1,400. Age 61 to 70 – $3,720. Age 71 or over – $4,660.

I've never done a return for a blind trust, but here is my take: I do not think the trust is a grantor trust because if I understand correctly the way blind trusts work, your client (the beneficiary) does not control the trust. The lawyer is likely the trustee. I think I would file a 1041 with a k1 to the beneficiary. Unfortunately, I do not believe you can transfer withholding to a beneficiary via k1. Line 24e—Federal Income Tax Withheld Use line 24e to claim a credit for any federal income tax withheld (and not repaid) by: (a) an employer on wages and salaries of a decedent received by the decedent's estate; (b ) a payer of certain gambling winnings (for example, state lottery winnings); or © a payer of distributions from pensions, annuities, retirement or profit-sharing plans, IRAs, insurance contracts, etc., received by a decedent's estate or trust. Attach a copy of Form W-2, Form W-2G, or Form 1099-R to the front of the return. Except for backup withholding (as explained below), withheld income tax cannot be passed through to beneficiaries on either Schedule K-1 or Form 1041-T. The client I have who has a trust (not blind) for her lottery winnings has to pay the taxes on her individual return each year reflecting all of the pass-through income, but she has to wait for the refund to process from the 1041. That's my best inexperienced advice. Hopefully we'll hear from someone who has more experience.

A non-dividend distribution in excess of stock basis is taxed as a capital gain on the shareholder's personal return. It is a long-term capital gain (LTCG) if the S corporation stock has been held for longer than one year This is straight out of the IRS Pub. What am I missing? Are they always LTCG?

The stock has been owned longer than a year?

Or . . . he did the 1035 exchange and the receiving company never picked up the basis. I have had that happen more than once. Then you have to try to track down the basis from the original company, and it is no quick task. I don't know what company the annuity was from, but the company that didn't pick up the basis (twice that I've seen) was Symetra.

Brilliant. I'm an idiot, but you rock! Thanks so much.

Client took an early withdrawal from his Roth IRA. The actual earnings on the Roth were substantially less than the full value of the Roth. I have entered the full distribution in box 1, and the earnings in box 2a (taxable amount), but the program is calculating the tax due on the entire distribution. What am I doing wrong? Thanks in advance.

Agree with Jack.

Thanks much!

I am getting this error often. Sometimes I it happens in the middle of a return, and I have to restart. I lost one return this way and had to start over, even though I have autosave turned on. Any ideas?

Agree with Lynn.

100% agree with the two comments, above.

Thanks, Lynn! It's great to have colleagues to turn to when one needs good information. I really appreciate it.

I need to find an estate planning attorney in Louisiana (client is in Kenner, so New Orleans area) who is competent, will work well and patiently with elderly clients, and will be comfortable with my involvement as an out-of-state attorney (simply because my clients are very dependent on me and won't sign anything if I don't read it). They are my best friends parents, and it's a miracle that I've even gotten them to agree to see a LA estate planning attorney. They want me to be on the phone during the meeting. I WON'T be controlling or annoying. They are not afraid of attorney's fees; they are simply leery because they received some bad advice YEARS ago, and now are very uncomfortable with outside professionals. Any suggestions? Thanks!

I asked ATX and my IT person if I needed a separate license to work from home (I don't meet clients there - I just don't want to be at my office 24/7). Because I am using Radmin, and I am logging in 'remotely' to my desktop at my office, both assured me that this is single user. (No one could access the desktop while I'm working from home, because I'm on the desktop virtually.) I was unsure after reading the licensing agreement, which is why I asked. This was, however, several years ago. I haven't double-checked it since. I am the only preparer in my office, and I only meet clients at my office.