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Re: the 179, you can't create a loss with it, and you don't take depreciation at all on an asset that is bought & sold in the same year. I think your client wouldn't take any depreciation against that which is abandoned.

The unified credit is $5.49 million for 2017.

The smells are what bother me more, especially the papers from heavy smokers. That gross smell gets on my hands too. Years ago, the firm I worked for had a fish market as a client, and the smell on those papers was nauseating and probably the worst I've ever experienced.

Thanks for posting this!

You can choose to use the GDS method instead of MACRS, but you must use the same method for all of the assets placed in service during that year for that entire class. I do think that is what you were saying in your original post, and that it isn't necessary to use that other method for all of the classes globally. Abby is right, you must have a global box checked somewhere.

Yes.

They are an expense on the books but aren't deductible on the return. Nondeductibles are reported on Sch K, line 18c that then flow to a similar line on the K-1s, and is also included on M-1 line 4 if the partnership is required to complete that schedule.

Any premiums on policies where the partner is directly or indirectly a beneficiary to the contract wouldn't be, those are a nondeductible expense. Item #10 under Premiums: https://www.irs.gov/publications/p535/ch06.html Group term premiums on coverage up to $50K fall into the fringe benefits category and can be included and deducted but premiums in excess of $50K wouldn't be.

^ that. BHoffman is correct that the IRS system will still accept an extension even if a return has already been filed. Haven't some here filed extensions for clients that haven't brought data in when it gets close to the filing deadline, not knowing whether or not those clients will be coming in or have moved on to other preparers? In those cases, the preparer filing an extension in that circumstance doesn't know if a return was filed by someone else or not.

Your client could check with the county (superior) court to try to find out if it's been settled. If it hasn't and if a co-executor was named then that person would be asked to take over the duties. If no co-executor and not settled, then the court must appoint someone. It wouldn't fall on your client, but she could petition the court to be considered for the role.

I'm not going to load the OR program to see, but maybe this screenshot will be helpful. Why not call Drake and ask to be sure? They are very friendly and should be glad to answer any questions you have.

Unless 2016 was ordered as download only. Doesn't ATX offer that as an option?

Cynthia, welcome to the UNOFFICIAL forum that is not directly associated with WK, CCH, ATX or any other vendor. This forum is privately owned with members that still mostly use ATX, or are like me that did in the past and have moved on to other vendors. Since we were overrun with spammers/scammers more than once, the owner of this site decided to put in the challenge questions to make sure that bots weren't getting through. Sorry the questions were not to your liking. Using the link Elrod provided will allow you to log in for access the knowledgebase, support, other areas related to the program and your acccount, and also the official forum if you'd rather pose your questions there.

If you are scanning docs in, you may find that it's easier to enlarge on your screen.

I roll over as they come in too, and I also use my tax program to track progress like others here do. I do still have a master spreadsheet for all clients' work and ones by month that I still use to indicate projects' final completion dates.

Correction - it appears that even the 3468 isn't attached to the S corp return in certain circumstances. From the 3468 instructions: Also see the section that follows that entitled "Shareholders of S Corporations, Partners of Partnerships, and Beneficiaries of Estates and Trusts" on the second page of the 3468's instructions for the details required to be provided to the shareholder if this is the case for the return you are working on.

Is there anything on the K-1 line 13? Code P perhaps that would have the details on a supplemental schedule? I think Margaret is correct that the 3800 isn't used for an S corp, only the 3468.

If you look at the instructions for line 9 of the form, I think that you don't need to allocate any of the amounts from the 1095A if that policy doesn't cover anyone outside of the H-W's tax family, and if no other tax family purchased coverage for anyone listed on the return you are preparing. If that is the case, I think you check "No" on line 9 and fill in either annual totals or monthly amounts for the wife only.

No, please see Bulldog Tom's from Friday.

Thanks, Black Bark. I'm not worried and responded as I did only because someone else mentioned it.

When I used ATX I did something similar for every DE client that had credit for taxes paid to other states. ATX never got to the correct credit without overriding, so I'd link the lines for those overrides to the appropriate lines on the other states' returns in case there was a subsequent change to the returns, I wouldn't have to manually recalculate those credits again, it was automatic.

Joe, this site is for tax professionals using a specific brand of software not used by the general public. We do not answer tax questions posed by nonprofessionals here. I'd suggest that you hire someone to prepare your return.

Oh, I think we have lurkers from the official forum that either choose not to join or read without logging in. We also have, or had, at least one IRS agent as a member. I haven't seen any posts in a while from that person though.

^ Grandmabee is correct and has perfect timing. That email from IRS newswire just showed up in my email 4 minutes ago. If anyone didn't get it or doesn't subscribe, it is IR 2017-16.

IRS site still says it will begin releasing on 2/15, but it seems the extent of scrutiny depends on the content of the return and credits claimed. The quote below is taken from the IRS site and says right there that some of those early filers still may not have their refunds until the end of Feb.