jasdlm

I would just like to say that I have had very good luck with them today. I have called 3 times, all over efiling issues, and they have been responsive, competent and relatively quick. I appreciated the help I got today. The representative did inform me, apologetically, that one problem I was having was a 'program error' and the programmers knew about it, but it was unlikely to get corrected this season. At least she was honest. It is not something that stops me from efiling; just adds an extra step to the process. I decided I should post recognizing the good experience I had today.

Hi, JB. I live in Kansas. Do you know what County she lives/works in? Return will be a part-year return, of course. Schedule S is the form you will use to back out the income from the time frame she lived in Ohio. Is she W2 or Schedule C? Kansas has a new law in 2013 where 'business income', rental income, entity pass-through income, etc. isn't taxable. Let me know your questions as you run across them. We'll get it worked out. Bart is in Missouri, but I believe he does a large number of Kansas returns, also.

I'm not positive, but I'll go out on a limb to get the conversation started. I think it is netted against the SH basis, given that the LLC has elected S-corp status. I don't think there is COD income in this particular situation. Please note that I'm not certain; just giving my opinion and hoping that others who are more knowledgeable will join the conversation.

I tell my clients that as a preparer I'm required to efile (which is true). I just fail to mention their right to opt out. I now have no clients who paper file .

. So sorry NE. I had a respiratory infection in February. Took several weeks (5) and an antibiotic to kick. Don't wait too long to go see the Doc if it doesn't seem to be getting better.

I, too, hate daylight savings time . . . and C Corps where the owner makes a substantial loan to shareholder, has no loan documentation, and is not treating the loan as an 'arm's length transaction', making payments, charging interest, etc.

Bump.

Thanks. I wasn't smart enough to realize he had morphed to 'Mr. Pencil'. I'm so glad he hasn't been away for as long as I thought he had!

I am required by the bylaws of each of the non-profit Boards I sit on to make a donation to the organization in order to serve on the Board. I have always deducted these. This doesn't seem any different to me (other than it's obviously a non-cash donation).

Box 16 (State Wages) are less than Box 1 by an amount in Box 14 designated 'CAR'. Client is in sales, and does have a car allowance, but why would the State wages be lower by that amount? Any Arizona preparers? Thanks.

Client needs return for HOA. Previous preparer filed 1120H. Expenses are around $40,000, Gross income from Dues, etc. is about $36,000. HOA has an ongoing fundraiser where members sell gift certificates. Total sales are around $160,000 even though net income from this fundraiser is only about $8,000. The way I read the rules, 1120 must be filed because the 60% test isn't met (on GROSS income) and therefore 1120H is not allowed. 1120H has been filed previously, however, with similar numbers. Am I misinterpreting Gross Income? Do I have to file 1120? It also seems like the tax burden will be smaller with an 1120, because I think I can use the loss on related income/expenses to offset the unrelated income. Any help would be appreciated. I don't want to make this any more complicated, and if I'm incorrect and an 1120H can be filed, I will do so. Thanks!

If it is inherited, you will need to figure out if an appraisal was done at the date of death so you can start your basis calculation.

Not sure what your question is, but I think the following is an interesting article. http://www.timothylindstrom.com/uploads/1/2/5/8/12581180/the_role_of_letter_rulings_in_conservation_easement_contributions__estate_planning_journal__feb_2013.pdf

Agree with Gail. I think he has to file.

$11K is a pretty big plug. Do you have her bank statements and the method she uses for tracking during the year? Might be an extension project. If I am off a small amount, I will plug sales or supplies depending on why I'm off, but never more than $100.

I haven't seen him so far this season, and I'm not liking that.

If she actually received a check, she cannot roll it over. She is going to have to pay tax on the distribution. IF the money did go trustee to trustee, and the account simply isn't titled correctly, you can correct the error (to add the name of the deceased to the IRA titling) and you will have to be prepared to respond to the CP 2000. Code Section 408(d)(3)© prohibits rollover treatment for an inherited IRA, so if she took a distribution (i.e. received the check directly) she's out of luck. This HAS to happen by trustee to trustee transfer. NO 60 day rollover time period allowed. There has been a tax Court case on this and the taxpayer lost. If, as you state in your post, the check was made payable to the taxpayer, I would not treat it as a rollover. I do not think you will be successful in arguing your way out of the assessment when you receive the CP2000. http://www.ustaxcourt.gov/inophistoric/beechsummary.sum.wpd.pdf

JB, I was just thinking about that a few days ago and wondering how long it had been. I'm glad you're happy! I know you miss your high school sweetheart, but it's wonderful that you have this second opportunity.

I help some of my older clients who don't use the internet. They sign off on the ultimate values/conditions, but I do look them up for them. I probably shouldn't, and it takes an incredible amount of time, but they are grateful. These clients tend to under value the items because they are scared of the Feds. I do send clients to the Salvation Army and other websites that help value, but sometimes I have to help them along. The ultimate value assignment is theirs. If clients give me a crazy high value, though, I do look up value ranges and review my suggestions with them. I have a small practice, and I know the majority of my clients very well and am in contact with them throughout the year and during this time, so it's a bit of a different situation. I still hate form 8283. Hopefully I'm not breaking any law.

Almost as much as I hate people who make 30 trips to Goodwill during the calendar year . At least I've got most people trained to give me an itemized list of the items they dropped off. Takes forever to value and enter! (I could take the taxpayers' values, but sometimes those are outrageous.)

Client is a practicing attorney in one State. Takes a job in another State but has to sit that State's Bar exam in order to fulfill the requirements for the Job. In this particular case, I am wondering if the Bar Review fees and exam costs would be deductible. I think yes because 1) it is required by the employer (she had the job before she sat the bar), but I can also see 'no' because it would be a minimum requirement for working in the field in the new state. I have researched and cannot find a specific answer for bar expenses for a second state. (I know they would not be deductible the 1st time around because they qualify the taxpayer for a new profession.) Thanks.

If it was a trustee to trustee transfer, I believe that the 1099R is wrong. However, were beneficiary IRA's established? If not, and if the IRA is set up in just daughter's name, I believe you will have to correct that and include the name of the decedent in the registration. Daughter did not commingle any of the inherited money with her own, existing IRA, correct?

Since she is not a spousal beneficiary, she would have had to set up a beneficiary IRA rather than a rollover. This would mean that she would have to take her RMD annually. Did the money go directly to the fund company or come to her?

I could do it last year; I don't know why it won't work this year.

My system won't open two returns. I've tried several times.