Lynn EA USTCP in Louisiana

On the 1120S, schedule K, line 17 (page 4), line 17d, click on that grayed out line, and it will take you to the underlying worksheet to enter 199A information for lines V, W, X, Y, Z, AA, AB, AC

If net s/e income is less than $400 no s/e tax is due. You still have to file the tax return and the pertinent schedules.

The 1041should gave ‘initial’ , ‘final’ boxes to check in the section just below the address on the first page. When prepping the k-1’s they too should have a ‘final’ box to check.

Is the 1041marked final? I am not an expert in 1041s but it is my understanding that all losses flow to the beneficiaries in the final year.

I didn't follow the script, but did do a 199A supporting worksheet in my own tax return - it works perfectly.

Here in NOLA tax season (at least at my office) always has a slow start. My barometer is Mardi Gras - most folks start getting their stuff together after that. Most of my clientele, though, have more complicated tax matters so tend to wait 'til all of their docs are 'final'.

My client has Roth IRA as well as regular IRA and pension distributions. When I looked at line 4a it showed only the nontaxable Roth IRA amount, $13,314, while line 4b showed the taxable amount of the regular IRA and pension distributions, $20,780. I think line 4a should include all amounts, $34,094 (Roth, IRA, pension) and line 4b is correct at $13,314. Anyone else run into this issue? PS - I tried ATX chat feature and the little wheel just turns and churns and no one comes on the line. Thanks !

Yes, with Tom Gorczynski

FB also has an 199A group

It is a tricky deduction (reduces taxable income, not a tax credit). I will try to walk you through it tomorrow.

I am home taking the day off today. Send me an email tomorrow with your phone number and a time to chat. I will call you. My email is [email protected]. You are using ATX, right ?

I am more concerned with the fact that for 2016 and 2017 Ohio corporate returns were NOT filed. Guess should pull out my TaxBook ?all States edition and look there to see if the entity had an obligation to file Ohio after moving out of the state. They remain in good standing with OH SOS.

Yes. Ohio formed corporation now doing business in Louisiana . His income has declined since moving to La. and we discussed dissolution along with reserving the trade name.

Right click on the item, a list of options should come up including ,not junk’, and the ability to tell the system that the sender is approved.

Nexus is now in Louisiana. They moved from Ohio to La June 2015

New client moved to Louisiana from Ohio June 2015; they sold their OH residence and have been renting in LA. They continued to use their OH tax firm for 2015 2016 and 2017 returns, 1120S and 1040. For 2015 the 1120S filed Federal, OH and LA corporate returns. 2016 and 2017 only federal and LA were filed; none to OH. Does TP have a corporate filing obligation to OH for 2016 and 2017, and now 2018? Thank you,

you could file MFS without an ID number for him - it would be a paper/mailed return.

Bulldog Tom, I will report back. But, it will be a while before I receive this client’s tax info as this return contains LOTS of moving parts. Usually it is late March, early April before all info is in.

Margaret, I am going to report the 1099- misc income on sch c, back it out with the description, designated housing allowance, then make a ‘dummy w2’ in my system for the housing allowance. I do not think I can get the housing allowance to show up in ATX otherwise,

This clergy is a cantor that works for the congregation at Rosh Hashanah and Yom Kippur. You are right about the housing allowance - it’s not in the contract but stated in the congregation board minutes. Thanks ,

My understanding is that for the housing allowance to be 'nontaxable' it must be designated in the employing contract and BEFORE the first check is paid to the clergy. Further reading in Hammar's Church and Clergy Tax Guide did have one or two lines regarding contracts that cover more than one year. So, I think in the long run my client is ok with the contract covering 3 years. The other issue with this client is that the contract designated all of her remuneration to be housing allowance, and the congregation's 'bookkeeper' issued her a 1099-MISC with that amount in box 7 instead of the W2 with all boxes of -0- except Box 14, $xxxx.xx housing allowance.. My client wanted me to call the bookkeeper and I refused to do so. There's a workaround for this.

My clergy client has a contract that encompasses 3 tax years, with dates of service listed as: September 9 -10, 2018 September 18-19, 2018 September 29-30, 2019 October 8-9, 2019 September 18-19, 2020 September 27-28, 2020 For the clergy experts here, should the clergy go back to the congregation for a new contract in each of the next ensuing two years? Or will this one contract, covering 3 tax years, suffice? Thanks, Lynn

comparison is due to be released Monday 2/4

Are you printing ‘page’ or print packets. I found innthe payroll program that if I printed page the preparer header info was left off. Also, are you going to the second tab to mark what forms should be included on the instruction sheet?

Roberts, I know folks who have done all 3levels in one year. Level 1may be done online. Level II is in person, and could be done in the summer at NTPI Las Vegas. Level III at NTPQI Orlando in November. It ‘s doable .