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I know that a signed statement is required when the taxpayer is relying on the safe harbor for QBI related to rental real estate. Is the same true for those with rental real estate NOT relying on the safe harbor but that DOES qualify as a trade or business? Do I have to have a signed statement attached? If so, could someone point me to the requirements for that, or better yet, does anyone have a statement they'd be willing to share? Not trying to reinvent the wheel here. Thanks!

They're both sec 1250 property, but you have to separate them because the building is depreciable property and the land is not.

Exactly, and I don't like to report anything to IRS that isn't required or necessary. Since I'm unsure, it will be reported. The post was as much as rant as anything else. Part of my annoyance is that this person comes to me every few years and does her returns by hand in other years. She makes little mistakes here and there, and she carries out the results to include the cents. I'm just really fed up with people in general right now.

Client is unsure if 1099 was issued for the sale of her former residence, and the gain IS definitely fully excludable and doesn't exceed the $250K exclusion for a single person. The state has a newish form that asks various questions to determine whether gain is taxable, excludable, exempt, etc, in order to determine if state income tax should be withheld from the settlement, but the settling attorney didn't fully complete the form (ugh!), so that is no help. The fact that no box was checked to indicate exclusion makes me wonder if a 1099 may have been issued. Would you pull a transcript to see if a 1099 was filed, just report it anyway with code H even if 1099 may not have been issued, or not report it and hope the client doesn't get a notice? IRS transcript page says that the report may not be fully updated for the current year possibly until July. These helpless clients are making me more than a little short-tempered at this point. Grrr!

Sorry, ATXers. My software is the same as in previous years and is unambiguous with the checkbox labeled "dependent of another".

Thank you. I can't open that file though. Do you have a link or convert it to another type?

Might be a totally stupid question, but I'm in a brain fog with this one. Filing a NJ-1040 on a part-year basis. Single, senior over 65 with income on line 29 of $5,000 and filing only for refund of withholding. She moved out of NJ on 8/7/18 into sister's home in PA because of terminal cancer and died in Jan 2019. Still owned the NJ home for all of 2018 that was her primary residence. Does she meet the eligibility requirements for the property tax credit since she moved out of the home in Aug? I'm hung up because of the quote below that references other property. Does this now apply to what was her primary residence but has become "other" property when she moved out?

Works for me. I read this topic and used that pesky back button and it still changed it the lighter gray to indicate the topic had been read. Thank you, Eric!

Here is the (safe link) to the IRS IRM https://www.irs.gov/irm/part21/irm_21-004-006r covering refund offsets that includes the ordering rules and some snips below from that IRM that may help. The individual's personal tax debt would be satisfied first, and then any taxes that are under the business master file. As an officer of the business and person signing the 941s, he would be responsible for the debt, but I, too, think you are out of luck with this. The IRM on this is quite extensive, and I know that you don't like links, so if you want to find this for yourself you can search for "tax refund offset IRM" and it was the first item that came up for me and has the "irs.gov" address. Anyway, here are the snips:

QDRO covers qualified plans that should also be referenced in the divorce decree. IRAs aren't covered by QDROS and their division used to settle the split of marital assets must be covered in the divorce decree. It should reference the mechanics of division and may be labled as "transfer incident to divorce" or may mention "rollover." Either way, if this is referenced in the document in either way, it would be considered a transfer incident to divorce and would not be taxable, AND someone should make darn sure that the custodian handles and labels this properly! I would have to look up whether this is an exception to the one-rollover-per-year rule, but my gut says 'yes'. ETA - keep in mind that trustee-to-trustee transfers don't count toward the once-per-year rule, and multiple transfers are allowed.

The client is already concerned about missing documents, so use that and ask her to have the daughter's help. You could ask her to have the daughter call you, or you could set up a conference call where you can ask the client's permission to find out about the POA, or you could set up an appointment to meet with both of them and discuss in person. ETA- if conference call won't work, ask the client to call you from the daughter's house next time she is there visiting her husband. She and daugher could talk to you on a speaker phone and get permission to ask daughter about the POA.

Thanks for the error codes that have been provided so far. Maybe the errors were caused by me moving some topics posted by new members, and that usually doesn't happen on an ongoing basis. Eric did say that there was an update recently, that he couldn't replicate my issue, and that he wouldn't have a fix for it anyway,. If the issue is caused by the forum's software, it would have to be corrected by the vendor.

Hmm, I don't know but I had a similar problem recently where the forum continued to show that there were unread posts but I never got any message or error code, but I think you are describing the same thing. I talked with Eric and he couldn't replicate the problem. I cleared my cache, cookies, and history using the utility build into Firefox and also the older way through the Control Panel, and then rebooted. I haven't had the problem since then. What your describe could happen if using the "back" button to return to the general chat or main page of the forum, but I wasn't doing that either. I always use the "browse" tab to return to the main page that shows all the forums but it wasn't clearing them as read, and I'd have to manually mark the forum. Tagging @Eric to alert him of the problem too, and your error code may be helpful to him.

They can file jointly, but each of the two gain exclusions is calculated for each individually and limited to $250K for each, not a combined exclusion of $500K as any other joint couple would have. IN other words, if one as a gain of $300, it would have a taxable gain of $50K. So, it is acceptable to claim both on a joint return, but I can't tell you whether or not it is possible within ATX or how or where to input in that software. Is it possible to add a second 8949 and indicate that the first is for taxpayer and second one is for the spouse?

Because the taxpayer is only 48 years old (under 59 1/2), the earnings withdrawn will be considered as income and subject to income taxes and a 10% penalty tax. The 10% penalty may be waived if you meet one of the exceptions.

Thanks!

FDNY, it's part sec 101 of the Victims of Terrorism Tax Relief Act of 2001 that was H.R. 2884 found in this link. Check out the full text here: https://www.congress.gov/bill/107th-congress/house-bill/2884/text And the code references are there in the text of the bill, specifically referencing sec 6013(f)(2)(B) and sec 692. Also, there's this non-official news brief: https://www.gillibrand.senate.gov/news/press/release/gillibrand-reminds-9/11-first-responders-survivors-of-possible-tax-relief-available-through-irs , and this Journal of Accountancy article that came out shortly after the bill passed. Hope these links help with your documentation.

Mine is a crosscut also that makes confetti, but it wouldn't meet the new requirement of the chip being 1mm or smaller in width.

Gah, what next! There's always burn or mulch too. One more great reason to go totally paperless. Maybe I'll offer my chips to my neighbor with the dirt farm that could churn it in with his used mushroom soil compost, and no one would touch it then.

If anyone needs a reference for this, it is Reg 1.6013-1(d)

Because the deceased's tax year for the individual return ended on the date of death, and on that date of death the deceased's marital status was married, and because the widow(er) remarried, that person gets to choose MFJ or MFS.

I'm starting to panic more than a little. I got the flu in late Feb and was so sick for a full two weeks that I couldn't work and then was finally able to work enough to meet the March 15th filing deadline because I had the accounting or bookkeeping in good enough shape to complete those. It's taken a full month to recover completely, and now though I'm in a real hole with the individual returns. How ever many I finish in a day, it seems I'm getting double that many in.

Came from this pdf from the IRS site: 4491_filing_status (1).pdf

file the deceased as married filing separate

How was your predecessor coming up with the figures for the 4562? There are no fixed asset schedules for any of the clients in prior year files or workpapers? If this former preparer was using another software program to generate the figures for the 4562, it might be easier to purchase that program too rather than starting to input all from scratch into ATX in the middle of this season, then deal with moving all of it to ATX when you aren't so busy.