jklcpa

IRS rules do not prevent the rollover. Other software including my provider's has rolled it forward in prior years, and mine is still doing so for the 2019 tax year. Mine also flags the fields to alert the preparer to check the information, and the flags must be cleared by the preparer before the e-file is created.

Jan 27th. ATX can't send it on to IRS until MeF for individuals opens on that date.

IRS site has the revised form (rev. Jan 2020) that shows the floor at 7.5% so it shouldn't be long before the software vendors have the revised form available too. Are you using ATX or something else?

MeF for business submissions opened on Jan 7, 2020, and IRS includes the 990 in the business submission section of MeF filings. Are all the required forms finalized and available for e-filing through your software?

The first one doesn't have enough of a label to determine what it is. It could be a per person/per capita tax for anyone living in that town or even the township's earned income tax paid separate from withholding if the person owes that and isn't withheld from W-2 or owes on s.e. income. The next 2 in the list are property taxes. The occupation tax is this:

1096 is a summary and transmittal form for paper filing. IRS instructions specifically state that a 1096 should not be submitted when 1099s are e-filed.

NECPA, I'm praying for you, your sister, and your family. If there is anything I can help with, please don't hesitate to ask. Sorry that I don't have a recommendation for a printer because I may be shopping soon too, so I'm interested to hear from others on this subject as well.

Right, the IRS FIRE system has been open for filing for more than a week now.

^^ This way. Because it's community property each owns 50%, there's no need to elect gift splitting. Husband and wife will each file a return, and each return will report 4 gifts of 150K with no gift splitting.

Ah, I see. Thank you, and I apologize for any ongoing confusion! So it seems that the article from Accounting Today incorrectly included sole proprietorships in with the other business entities.

And this is the blog by a NJ CPA firm, Hill, Barth & King LLC: https://hbkcpa.com/nj-passes-salt-10000-cap-work-around/

@Max W Ed, that's an article from a year ago and is not the legislation being asked about. The current legislation was passed in Dec 2019 and signed into law by the NJ governor this week. Give me a couple of minutes more and I'll find a blog from a NJ CPA that also made mention of it recently.

Interesting. Does CT's newer law also allow the state income tax as a deduction on the Federal return at the entity level? I think that is the point of NJ's new law.

That's how some states have ensured they get their taxes from nonresident owners of pass-throughs, by collecting it at the entity level and then the indivudual claims the taxes paid on their behalf along with withholding, estimates, and extension payments made. In those cases, any state tax withheld be claimed as paid toward the liability on the state return, but it would also still end up as a deduction on the Federal Schedule A subject to the SALT limitation. In my state, the passthrough entity withholds at the top marginal rate, and if the nonredient is due any refund then they have to file. This new NJ law is totally different than that above. I haven't looked at the law itself, but the way that linked article is written, it sounds like NJ is going to allow the entity itself to take a deduction for the taxes paid and pass through a lesser net amount of income. It's trying to shift the deduction to the entity, not passing through a credit or deduction that would appear anywhere on the individual return

Are you calling in for technical support of the product or are you asking tax questions? Whether technical or tax-related, you could try asking here. Most of our members are long time users of ATX, are knowledgeable, and willing to help. Even if its a technical issue, sometimes others here have run into the same or similar problem and have something for you to try, or may have a workaround. In addition to calling technical support, as a user you also have access to the ATX official forum where you could trying posting, and there's a Facebook group called "ATX Tax Software Support Group" that you could join. That FB group is not the one linked to in our header, although you're welcome there too.

For those that aren't aware of the legislation that NJ's governor signed into law this week, this will allow flow-through entities and sole proprietorships to elect to be taxed at the entity level instead of at the personal level. This is totally different than the Schedule A SALT limitation workarounds that were to utilize charitable donation/tax credits that other states tried and that were ultimately shot down. So far as I know, there's been no word from Treasury or IRS to know if this method will also be barred. Here's an article with some more information about it: https://www.accountingtoday.com/news/new-jersey-governor-signs-bill-to-bypass-salt-cap-on-small-business-tax-deductions

That may be true for 1099s but SSA BSO is open for filing, and the SSA submission file creation in ATX shouldn't be affected by the MeF opening date since that file doesn't go through the ATX server and is a direct upload to SSA. I just filed through SSA BSO and had no problems (not ATX though).

This has specs and talks about running Win 10 on an older computer. https://www.makeuseof.com/tag/how-to-make-sure-your-computer-can-run-windows-7/ If your internal hardware isn't up to spec, maybe you should consider upgrading to Win 8.1. It is still supported through sometime in 2023 and may be a better match for the hardware in this old machine.

cbslee is correct. The IRS FIRE system is open, but ATX doesn't produce the file that the user can get to in order to file directly on the FIRE site, and the tax pro would also have to register to use the FIRE system too, not something ATX users do if filing through the ATX software.

Since ILLMAS may not be on again before answers are posted, I'm going to share more relevant facts about his client's situation that were provided to me. Husband died in 2019. A revocable trust may be involved. In 2013, several rental properties were put into a H-W LLC. LLC has filed as a partnership since its formation. Properties in the LLC have very low adjusted basis. One appraised for ~ $700K and sold for $765K in 2019 after husband's death. As far as I know, husband, wife, and properties are all in Illinois, not a community property state. Questions are: the amount of step-up where, and at what basis, is the sale of the one rental reported how to deal with the LLC and the other remaining rentals in its name, and how are those are moved back to Sch E

I checked too and found that prior years' opening dates were announced in press releases, and I couldn't find anything yet for this current season. I did find the free file page below that specifically said that e-filing is currently closed and reopening date is anticipated to be mid-January. It looked like NY opened for filing a few days ahead of the Fed. Sorry that isn't very helpful. https://www.tax.ny.gov/pit/ads/efile_addit201.htm

It's ok. The topic is still timely and relevant because of these filings now coming due.

Being an ERO you can e-file the 1099s through the ATX software. For W-2s, you must have a user id from SSA that is obtained by creating an account the BSO (Business Services Online) section on the SSA site. Once you have registered with SSA and have that number, you can create the W-2s in ATX and use the ATX e-file function to convert that into a data file. That data file must be uploaded directly through the SSA site. Alternately, W-2s can be created and filed directly on the SSA site, but this isn't going to have the roll forward features that your tax software does.

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