Lynn EA USTCP in Louisiana

I allocate sales price percentages across all assets, according to their original cost basis percentages.

Black BART, 2018woeks fine, though ACKs are slightly slower. I am still waiting on an ACK for 2016 and have not been able to EF 2017.

JohnH, the client for which I need to EF 2017 IS in a hurry to EF that year’s return as she needs a transcript for that year for her son’s FAFSA application. Admittedly she is tardy on filing that year, owes $ to the IRS and state, and had to collect the funds for my fees. The return languished on my completed, waiting for pickup shelf for several weeks until she could pay me. Now that my fees are paid and EF forms are signed I cannot EF until ATX gets its act in gear. If I am not able to EF by Tuesday next week I will contact the client and ask her if she wants to wait for EF top reopen or paper file.

Bumping this thread back up for a variety of issues - (1) has anyone been able to EF 2017? (I have not). (2) I efiled a 2016 days ago and it is still at transferred to agency, awaiting ACK. Anyone else have better success with this? I have gone to EF status page on their support site; no news. (3) has anyone else been able to communicate with your ATX rep regarding renewing for 2019? I've sent mine an email and left a voicemail message - no response yet. (My rep is Aaron Seiffert; last I heard from him was late April when they invited me to switch to ATX Access - I declined). (4) For those who have renewed were you able to secure a better discount than the 10% offered on my renewal invoice?

We won't be told, if at all, whether or not our clients' data was compromised until after the 5/31 deadline to renew with discounts !!!

Form 8821 might be more appropriate - the tax pro would receive copies of any notices issued but not be responsible for responding. IMO, form 2848 carries with it representation rights and duties to respond.

Have you filed extensions for them yet? I'd do that today, and then keep trying to efile the 990's

The issue about going to Tax court is the taxpayer needs an invitation to file a tax court petition, i.e. the notice of deficiency. The NOD will give a specific time deadline to file the petition and once that drop dead deadline is passed the TP is SOL re filing the petition.

I am going to Scotland in June. Staying with family in Blairgowrie

Max they do have a conversion from QB process. I never tried it. Annual renewal/update fee is about $300.

on the k-1 (1065) at the bottom there are tabs - input, detail, allowed amounts and carryover, and PTP. I enter the k-1 info on the 'input' tab which when you click on 'calculate basis' the basis section opens at the bottom of the page. The other tabs do not have a calculate basis section . Hope this helps.

Thanks for that clarification .

Their value for depreciation purposes is the lower of their basis (their $1 cost plus their parents basis - purchase price plus any improvements) or FMV at the time available for rent. The $1 purchase price is a smoke screen, and a gift tax return 'should' have been filed for the gift of equity in the home from the parents to the sons. Ask to see the paperwork (if there is any) in case there is mention of a life estate allocable to the parents' use of the home until their death. If no life estate then there is no step up in basis. They could do a QJV splitting the income and expenses (according to their ownership %) and reporting on their respective schedule E's in lieu of a formal partnership return.

In addition to Medlin, I suggest you look at Howell Software which I have used since 1987.

No

Yes

My state (Louisiana ) allowed me to schedule the full year's estimated tax payments for 2019. I tried to do that on irs direct pay but they only allow you to set up a direct debit via direct pay 30 days in advance of the payment. So, I've paid my 2018 taxes and my 4/15 estimated. Sometime after 5/15 I will schedule the 6/15 estimated tax payment.

duplicate the return. recreate the efile in the new copy of the return. efile

Click the option on the invoice to show all the forms

See if this is helpful - https://www.irs.gov/payments/pay-taxes-by-electronic-funds-withdrawal

Did you do the marriage worksheet ? I never have, but know it is an option.

For this purpose, the SEHI deduction is the same as for the actual SH. Did I correctly understand your question ?

The family attribution rules are applied regarding the SEHI. The presentation for that was correct. See IRC Code Section 318's Family Attribution Rules.

It will not show until the final year.

Could he fund an IRA to get below the 401%? Maybe borrow the $ from dear mom ?