Pacun

I guess the solution is to select electronic payment VS paper. If selected properly, run efile file creation and then you will be asked when you want to pay and HOW much you want to pay. Amount to be paid is auto populated BUT you can select any amount that is under the amount. For people that don't have money to pay, I ask them to pay $1 so that they know I filed when they are debited $1.

I guess you don't trust your 4 backups since you are installing in different folders instead of the ones suggested by Windows.

I get it every other week. You don't need to restart, you need to "end task". Open task manager look for ATX2022 instance and "end task".

I thought that when you inherited stock, you start wearing the shoes of the deceased. Meaning, no step up basis and you inherit the gains and loses also.

I think you need to treat this as if they bought stock, except that now wash sales. A few items, usually a few bucks are earned or drops and they are ordinary income but they are tiny sometimes.

I guess no much interest in crypto despite de fact that the potential of big profits exists for 2023 and EVEN more for 2024. Read between the lines please and remember that the potential exists.

I just received an update on this situation. They issued a 1099-NEC and I told two of my clients that they had to pay social security taxes because of the form used. Sure enough, they issued a 1099-NEC with 0 and they will be issuing a 1099-Misc this week. So, I will have to amend my 6 clients and exempt them from SS taxes. By the way this is ONLY for DC day care "teachers".

Daycare workers who were considered "teachers" received up to $17000 in 2022 and they will get it for 3 years, I believe. 1099-NECs were issued. Since this is work related, I reported this using 1099-NEC flowing to schedule C with 0 deductions since this was received by virtue of job title. 1099-NECs were promptly received by each taxpayer in February and they were informed in several meetings to set aside money for taxes. Yesterday, the "teachers" received a corrected 1099-NEC reporting 0 income. I wonder if that money will be tax free and taxpayers will NOT pay the IRS but will pay ME for amendments. Any info about this will be appreciated.

My brother owes me 9K and I withdraw that amount from his account by using my binance.us account to buy 5 Ethereum coins. What is the basis for my Ethereum coins? Same situation except that my bother gifts me $9K and he has never gifted anything before. What is the basis for my Ethereum coins? What about if audited, how can I prove the IRS that I have basis on the coins if my bank statements don't show that I have purchased the coins?

I think you can use the basis: FMV at the time of death or an appraisal 6 month later. If you sell it within those 6 months, you can use the selling price as the basis if it is sold to a non-related person.

Actually, the return was too much for the auditor and the manager was at our last meeting. The manager knows about taxes and my clients situation and she didn't question the mileage and understood that the vans were not personal vehicles and was easier to deal with her. I am glad she came to the meeting and show the auditor how to conduct the interview. She was happy with what we showed her and we are moving along. Of course there were some items that will be taken out but she will be add some deductions that were not included.

Auditor wants to see gas receipts and client doesn't have them all. Bank statements show that each trip to the gas station is about $80. I explained to auditor that gas stations ring your gas separate and that $80 will not fit in a regular vehicle... (I have a Rav-4) and I can only fit about $55. I guess auditor thinks that my clients goes to gas station to spend $80 in snack just to have a tax break and he does it every other day.

This year I have forgotten to click the "donate" button so that the electricity/maintenance is paid for this site. Please don't make that same mistake and I will click it soon.

I guess you have to start with the US-Japan tax treaty.

I don't think you are missing anything, I think you are taking $1,400 for the spouse by checking a box that should not be checked. Logically, why will you benefit from a spouse who lived apart from you all year?

For 2020, the employee retention credit was not taken. I have read in one place that I have to amend, get the credit and reduce my payroll expenses by the amount of the credit. I have also read that employee retention credit is tax free. Which one is correct?

My question was answered 10 years ago by Jack from Ohio. Go to the state efile form and unlink it (on top).

The message reads: "The IRS submission ID referenced in the State Submission Manifest must be present in the efile data base. " Does any one know what it means? I need to confirm my idea.

If he is a non-dependent, then he is not a child, correct?

Well, my client told the auditor that he took his vans to a friend mechanic that didn't give him a receipt. When the auditor left, I told him "you should at least use Jiffy Lube because they write down the mileage when doing oil changes". He said, the vans don't fit in their installations, which I didn't know. But I have seen his van and they are tall and all of them have 2-4 ladders on top. Another interesting thing that I noticed in this audit, is that the auditor has access to all years. I thought they only had access to the year in question and then they requested access for the adjacent year but I was wrong. I believe that the IRS will have to accept actual expenses in a review. This client was audited in 2008 but during that visit, the auditor said that he was within the industry's mileage allowance or something like that. Thank you to all of you who have replied to this post.

client made a million dollars home repairing and has 4 vans. Auto deductions using miles is $34K. For some reason the officer sought it was only one van and thought it was excessive. She was always asking about personal usage and I explained to her that it was a van full of materials, tools and you name it. The front seat of those vans barely have space for the passenger. She wants logs but she said that she would take amounts from the bank statements. Actual expenses are $25K in gas and maintenance plus 5K in car insurance. I told her that without depreciation, we are almost to the amount claimed but she wants to see the charges, which we are highlighting for her. Reporting a million dollars, I wonder what the industry average for auto expenses is. I told her that auto expenses for construction people was ordinary and necessary but she didn't entertain that thought. Any suggestions will be appreciated.

If your client owes 10K then each will list $2,500

There is no way to super cede a return using efile, as the second 1040 will be immediately rejected by the IRS efile "acceptance department". The only way to be efile-accepted is with a regular 1040X.

wrong post

I would add, create the new efile file and then transmit it. Don't forget to explain that you are adding 1099-int that were left out and as a result lines, 1, 3 and 5 are changing as well as the tax liability and other lines.