Pacun

I don't like to override anything on any return because if items change, that override will give me different results. I remember about 8 years ago I posted an issue with a simple override, ever since, I have not use it.

She has a choice but she already told you which one she wants (schedule C).

or zeros for that matter, right?

It has been simplified. Open form 1099-SA and enter the distribution amount and the portion of distribution that was used for medical expenses on the same form. After that you will go to 8889 and check the months he/she was qualified as before.

I like your title. lol. Actually it is bad news when Eric gets only a few donations for such a useful resource. Thank you for reminding me.

I like efile because in case someone has filed, I get a rejection... at that point I question them and I solve the issue before two legit returns get to the IRS.

From my other post "Since you have to use 2019 on both EIC and child credits if higher, be careful because you have to manually select both. on Sch EIC Step 5, 2 you have to check the box. Then go to Sch 8812, 6a and manually enter the 2019 amount"

moving it up just to help another post.

The reason you have to restart the computer is because ATX 2020 stays resident... o when you click on the icon to open it again, nothing happens. You have to run task manager and "end" ATX 2020. Then you will be able to open it without rebooting.

That family filing jointly will receive $1,200 for the filer with SSN, $500 for the 16 year old for the first stimulus and then $600 for the filer and $600 for the child for the second stimulus.

If a couple didn't get any stimulus because one of the uses ITIN, how much will be the first stimulus if none of them are in the army? (one with valid SS number and the other with ITIN MFJ).

Yes, it is not checking the age... ONLY earned income.

Correct, don't wait to the last day.... but feel free to start as soon as the IRS opens up... based on that report.

Based on the suggestion above, stop and start the print spooler then: Right-click the Start button. Click Run. Type services.msc Right-click Print Spooler — you might have to scroll down to find it. Click Stop. Do the same to start it. or open the command prompt as an administrator and type: net stop spooler and then net start spooler.

If you have another printer, please change your default printer. Update the drivers for your printer. To isolate the issue, make a pdf printer your default, print the return to pdf and then print the pdf file. Also, open 2019 and print from there. If ONLY ATX 2020 is the one with the issue, you might have to reinstall. What version of Windows 10 are you using? How much RAM does your computer have?

I love this subject every year. I have yet to see that the IRS computers cannot handle the incoming returns. When was the last time that you/everybody had issues on the first day of filing?

Why did he take it out of the market? What was the intent when he purchased that second home? Prior to 7/2010, did he own the home? Why didn't he continue to rent it after he fixed it?

What's wrong with entering the number twice if available?

On another post, I suggested that if you didn't prepare 2019 tax return and the TP has different kinds of income, the best is to prepare the 2019 tax return correctly on ATX (from the copy they provided) and then roll over the return to 2020. That way the software will grab only the earned income from previous year.

No and yes. It does it automatically for EIC but you have to check the box. You have to enter it for CTC. See my other post that someone just made a comment. Addition: I just saw your comment on the post I suggested.

ILLMAS it depends. Let's say that someone will get 4K refund without any IRA contribution and if they deposit $6K in their IRA, they will save $2K in taxes. I would tell them that they don't need any money to fund their IRA since they would get $6K refund which is the amount they need for the IRA. In this case, I will use option A. If tax payer owes $10K in taxes but if they invest $6K in an IRA, they will owe only 8K, I will use option B because chances are that they will not have $8K to pay their liability plus $6K to fund their IRA.

Randall, You have the opportunity of tax planning even if the clients say they want to pay in 2020, you might want to see if they will make more or... less money in the future. Paying $6K now in taxes is not as good as paying $3K or less in a year and another $3K or less in 2 years. What if your clients put their hands on a quarter of a million dollars within the next two years...... I guess they put the money back and amend returns. Also, since you didn't mention the amount, it is not worth it if they only took out a few hundred dollars out.

On the above post.... there are three figures that are wrong but the idea stays. $33,667.00 should be $33,333.00 which is $100K\3. The same number is wrong on the next line and finally $66,333.00 should be $66,667.00. My head some times betrays me and sometimes refuses to use calculator. It is too late for me to change it, but may be an administrator can make the changes and delete this post.

Remember that the tax break is only for $100K. That means that if I took out $150K. I have a choice of paying everything in 2020 tax return which will mean that I will pay $5,000 in penalty and taxes on $150K. If I decide to take the breaks, I will have to pay taxes and penalty on $50K (no break for this portion of the distribution). Then I will have to deal with the other $100K that do get a break. I will elect to pay taxes on the next three years and possible to put back the money so the tax liability dissipates. If I decide to put back $33,667.00 before April 15, 2021, my 2020 filing will reflect only penalty and taxes on the $50K. If I don't put back any money after those $33,667.00 mentioned above, but on April 10, 2023, I put back $66,333.00, I will pay no taxes on the distribution on my 2022 return AND I will have to amend my 2021 so I get back the taxes I paid. I love to say comprende compadre? Let me know if I am wrong. I think I will be the first tax preparer proven wrong but that's OK.

I think the best advice will be to wait for form 8915E.