Janitor Bob

Actually....I kept digging and discovered that he did home improvemnets for people on the side to the tune of approx...$4,500.00...hence the Sch C.... Actually, the guy kept very nicely completed and organized records of all of his income and expenses...both Sch C and rental activities neatly separated and detailed.... After speaking to him, I realized that he is actually very intelligent and very good with numbers and tax-related subjects...He just did not have time to file and went through both of his parents being very ill over the past 4 years (with both passing away at different points during this time. ....Man...now I went from being annoyed at his stupidity to feeling bad for him.

New client pops in on Sunday afternoon...I review his stuff W-2, interest, Sch C, Sch E...I figured this would be one large return, but easily completed without extension as long as I had all the needed information....So I Sit down with client and start digging for information....I ask for a copy of his return for last year. "I did not file last year" he states.....Hmmm..OK...we need to get that done ASAP.... "In Fact, he continues....the last time I filed, the tax return said 2003". ....CRAP....now I gotta get the 2004 return filed by 04/15, or client will lose that potential refund...So it looks like an extension for 2007 and my tax season does not end as neatly as expected.

This year, the 8863 opens automatically if you check that box....but last year I do not think it did. I would just tell client that, in preparing this years return, you discovered an over-looked item from last year...and that you would gladly do a N/C amendment to get them some additional money.

Client placed into service two-year old vehicle in her business. In Asset entry it has a life of 5 years...since two years old when placed in service, do I change the recovery period to three?

I understand now....Thanks

I am confused by "Fiduciary" return...what do you mean? Is this just a normal 1040 that would be signed by the son? Deceased mother's had no income after death and..AGI for year of $13,890 and taxable income of $3,289 and amount due IRS of $6.00. Can I just do a 1040, have son sign and send a check for $6.00?

All I want to do is file this 1040A return for an elderly couple that normally would not need to file. They have interest and social security so the return includes a 1099-INT and 1099-R. No refund or balance due, of course. If I check the box for "Stimulus Only" return, I get an error message that only forms 1040A, 8901, and W-2 are allows. If I do not check the box for "Stimulus Only" return, I get an error that direct deposit information cannot be entered if no refund.... Someone Help please!

Client wants me to file their extension electronically, but does not want to send payment now...Can I do that?

Farm Rental income went to son, but I nomineed part of it to deceased mother for her portion earned prior to death

Taxpayer died in June 2007...Gross income for year of $13,890 from farm rental, Social security, and interest. Taxpayer has no assets as all was transferred to son's name shortly after her death. If I file her a normal 1040 as I have in past years, she owes IRS $61.00. How do I know If I need to file a 1041 estate return? The attorneys did not form an estate...they stated to " just file as if she was still alive".

ATTN: Software Developers, Return Transmitters and Authorized IRS e-file Providers/EROs To avoid delays in the processing of an Economic Stimulus Payment (ESP) return, please remember when one dollar interest is used, it must be carried down to the Total Income (SEQ 0600) and Adjusted Gross Income (SEQ 0750) lines. Currently, there is a large volume of ESP returns being delayed because the one dollar amount was not entered on both lines. We apologize for any inconvenience this may have caused you. ---------- This has been an IRS e-file QuickAlert

wow...53 years....now THAT's a Frikkin marriage!

Has anybody seen Chaz (the guy who stands on the corner by Woody's Market and drinks warm Corona)? I have not seen him in several weeks. The last I saw of him, he was climbing the light pole in front of Chili Jilis in just his underwear (and a sock on one foot) shouting "Bingo!" and waiving a scratch-off lotto ticket. The guy aint dealing with a full deck, so I'm kinda worried about him.

Don't be silly Margaret.....Parachuting with a Frikkin banana is not only dangerous, but also illegal in most states...unless of course, you have a frikkin banana parachute license.

WOW....That is one of my all time favorite places!! My daughter and her high school choir are going on a week-long trip to Gatlinburg and Pigeon Forge that same time...Maybe they will sing for you and Mrs. Booger! ,,,But I know what you mean about needing a vacation...I think we all do. With my wife being so sick for the past few years, I have not been on a vacation since Disnyland in 1998. Finally...Mollie (soon-to-be-fiance) and I will head to key West for a week of much needed R & R the end of May.

To me, they do not seem to be a permanant improvement like a roof or windows, so I would expense as opposed to depreciate ...but then I also jumped from a roof to see if the umbrella would slow my descent.

I think the 1099-R is correct....but I am confused by the part of the Separation Agreement that states "he is liable fpr 1/2 of any taxes incurred due to the transfer or withdrawal of the annuity. ...So now she owes state taxes because she withdrew the annuity and he is responsible for 1/2 of that. Is this obligation something that I, as the tax preparer, need to deal with, or is this obligation just between the two of them? It is tricky, because I will be doing returns for both of them..

Huh?

It sure looks like a leagal separation to me....They appears before a judge and it was assigned a case number from Miami County Common Pleas Court....It looks Identical to divorce decrees that I have seen except that it states "Separation Agreement" instead of "Decree of Divorce"...I also see where there was a QDRO that assigned the annuity to the wife. Not sure if I can file them MFJ (which is better for them)..or if I need to go MFS and HOH

Well, I do not see an actual judge's signature, but it states that they did appear before Judge Jeffrey Welbaum and it was assigned a case number from Miami County Common Pleas Court. It looks identical to Divorce Decree that I have seen except for the words "Separation Agreement" instead of "Decree of Divorce" It would be MUCH better for them if hey filed MFJ and split the refund, but I want to make sure I can do this.....If not, I will file them as MFS and HOH...

How would I know? The document is a "Separation Agreement"...spells out who gets various assets, custody of children, etc

Thanks...Yes I meant MFS, not single

and I also see where it states the MFJ filing, it also states "for 2006"....so this year I guess they will file whichever way is better? MFJ or MFS...Correct? ...However, they have lived apart for the last 6 months of 2007, so I suppose they could file single and HOH?

OK...I finally had time to really read this document...and it is NOT a divorce decree...It is a Separation Agreement...does that make a difference?

OK....So I finally have time to read the document....It is NOT a divorce decree...it is Seperation Agreement...Does that change things? It states in the agreement that the Annuity belongs to him, but that he will assign the entire annuity contract to her solely and that he is reponsible for paying 1/2 of any taxes resulting from the transfer or withdrawal of the annuity. ....So it look like the 1099-R is correct?