Janitor Bob

I just had a cline tbring me a still hot-from-the-oven loaf of banana bread....and yes....it was indeed.....FRICKIN BANANA Bread! It tastes frickin amazing!

Thanks...That is what I explained to the client (leaving out the "great american president" part)...She just is not happy. She is 81 and "does not plan on being around another 5 years...let alone 27.5" "I suppose the tax benefit will just go to my dumbass son....I hope he gets the house and it falls on him....the good-for-nothin bum"..... This ranting about the son went on for about 10 minutes, but I truncated it here.

I agree 100% that the new floor should be depreciated....I would just like to use a shorter life than 27.5 years....As there is No way that this house (as it exists today) will be around that long...and the floor (although it did add to the value of the home) did not extend that life....Has anybody had success in using this argument to depreciate over a shorter period....say 10 years?

@4.26!~

Thanks! Wait a few minutes and I will send you my checking account info as well!

When Lila the giant dog jumps up on it and knocks it off the hinges and cracks the frame

9.73^

Thanks...I just know the house and it will not be standing in five years...let alone 27.5. I think the new floor is probably the best part of the entire rental property...The property itself is almost fully depreciated.

Client has rental properties...In one of these, she installed a new hardwood floor for approx. $2,500.00...Should this be expensed or depreciated? I am leaning towards depreciate as it seems to me to be a permenant improvement that increases the value of the house....but what life should it have? 27.5 (residential rental property) seems too long.

Oh man, that was a good one!

I would say you are correct abount the $504....I do not think you need to do anything with the sec. 125 amount

black licorice makes me sick...I do kinda like the red...and especially the purple.

I'm interested to hear why you are glad the ATX board is back....I will not post or respond on that board, so I will ask you here.

After the stunt they pulled last year...it would be difficult for me to ever post on the new ATX forum. I think their product works great this year....but I just cannot forget that they pulled the forum from all of us with no warning and no apologies....To post on the new forum now would, in my mind, be like forgiving them for what they did....I am nowhere near being ready to do that.

I know I do not file a 1310 because there is no refund....but I want to file electronically....so I guess I will just make sure client (daughter) has paperwork ready if IRS requests them?

She does have papers where the court listed her as the executor.....She is the only surviving relative.

Wow....thanks...this time of year some of the obvious seems so difficult

no

Client is a sole proprietor....event planning. She paid health insurance through an individual policy....Can this, in any way, be deducted....First time I have ever had this particular situation. She was NOT eligible for any other insurance plans.

Congrats!....Let the spoiling continue....and increase!

I want to electronically file a "Stimulus Payment" 1040A for a taxpayer that died in 2007. He would not normally need to file, but does qualify for the $300.00 stimulus payment. Do I just have my client (taxpayer's the daughter) sign the 8879? She would like to get the stimulus payment to pay for his head stone. Do I need to file a 2848 or just have her sign? She does have a power of attorney and she was appointed the representative of the estate.

OK Tom...quit sugar-coating things...How do you really feel? :-)

Welcome Back to the ATX Community Discussion Group! Back by popular demand! The ATX Communities board has been reactivated for the use of all ATX users

Make sure the $1 is carried all the way to AGI

The check box is at the top of the 1040A Filers Info tab. If checked, it puts the requested "Stimulus Payment" at the top of the 1040A