Lynn EA USTCP in Louisiana

Oh - thank you. I missed that part. "now with egg on her face" !!!

From what I read of the bill windows were not included. SEC. 40402. Extension and modification of credit for residential energy property. (a) In general.—Section 25D(h) is amended by striking “December 31, 2016” and all that follows and inserting “December 31, 2021.”. (b) Phaseout.— (1) IN GENERAL.—Section 25D(a) is amended by striking “the sum of—” and all that follows and inserting “the sum of the applicable percentages of— “(1) the qualified solar electric property expenditures, “(2) the qualified solar water heating property expenditures, “(3) the qualified fuel cell property expenditures, “(4) the qualified small wind energy property expenditures, and “(5) the qualified geothermal heat pump property expenditures, made by the taxpayer during such year.”. (2) CONFORMING AMENDMENT.—Section 25D(g) is amended by striking “paragraphs (1) and (2) of”. (c) Effective date.—The amendment made by this section shall apply to property placed in service after December 31, 2016.

5695 ; yes

Cathy, I guess I'm not understanding your dilemma. Act 375 d/c'd the $18 credit for 2017, stated that for 2016 it was either the $18 credit OR the tuition deduction. Repeat of 47:297(D)(2) does away with the $18 credit altogether. What am I missing in your quandary?

The excess scholarship is shown as income on the child's tax return.

Cathy, remember in prior years LDR (on behalf of the state legislature) offered both an education CREDIT and a school/tuition DEDUCTION. Up until (I think) the 2016 tax year taxpayers could take BOTH, if they had qualifying children and expenses. For 2016 the legislature changed the rules so that taxpayers could take the measly $18 (reduced from the prior $25) credit OR the (up to) $5,000 school/tuition deduction. New for 2017 the legislature has removed the measly $18 credit and left taxpayers only the option of the (up to) $5,000 school/tuition deduction. Does this help? Lynn

Cathy, I will re-read this in the next few days. I will also send an inquiry to Barbara reeves, LDR Tax Practitioner Liaison, to see if she has any other comments on this issue,. Remember for 2016 those with children had a choice, either the $25 (then $18) credit, OR the school tuition deduction. So the legislature appears to have left in place the tuition deduction and removed the minuscule credit. I went to the LDR Practitioner meeting in BR Alastair November -'I will also check those materials for comments on this.

Start your research with Pension Protection Act of 2006 and IRS Notice 2007-50. There are volumes of Tax Court cases regarding conservation easement contributions which ultimately, per the Tax Court rulings, failed. Lots of rules to be followed to be successful.

I have one client with PMI noted on their 1098 from Wells Fargo. While most years she calls every day about the status of her return. This year I have to give her credit for being patient as we await the software updates.

Isn't this done via form 5329?

IRS projected date is 2/22

The only place I know of is the organizer. I have never looked for it on the tax return.

Today. From a FB group: Per NATP and filing of amended versus superseded returns to reflect the extenders: NATP attended today’s NPL Practitioner Meeting with the IRS — it was noted that if a taxpayer has already filed and they are affected by an extender provision, they should file a 1040X even if it’s before the filing deadline. A second original return could be flagged as a fraudulent return — do not file a superseded return. NATP recommends that the taxpayer not file the 1040X until they receive their refund or their tax payment has been cleared as to not have anything get crossed in the mail.

So far only one client is impacted by the extra, $2400 MIP, so that return is on hold until .....

Did you go onto the ATX Support Page, click on efile status link and then when the file came up click on 'rehang' ??

I tried that, Abby Normal, and don't get in. And I'm logged in - I think it's broken and they are not about to spend resources to fix it.

And yesterday Abby Normal you told me I'd probably been banned for writing derogatory comments !!!! I thought the official board was nonfunctioning (since I could not access it) and this post proves it !!!

I haven't been able to get into the 'official atx forum' for several months. When I click on it I get kicked to some other screen.

I have the HP laserjet 2300. When it starts to act up I buy refurbished ones for under $200. I've been able to use nonHP toner cartridges, at $25 each without any issues.

Mine freezes occasionally when I enter the officers salary in the detail section (1120S) of 1120-E. Luckily all other info entered prior to that had been saved. I start it again and then all goes ok......until the next return.

IMO the 1098T is NEVER going to be correct. Yet again the educational institutions have received a reprieve from being required to accurately provide info. Their lobby is better than ours.

I am still waiting for ACKS on 1099's efiled on 1/27. When I check the efile status on the 'official' ATX support page the option to Rehang the file is not available (the words are there but there's no check box to ask that it be done). Still waiting on the ACKs for my 1099's.

Yes, he will get a 1099R for the distribution of excess contribution. Since the contribution was excess, not deducted, he has 'basis' in that money. By completing 8606 you show his basis in the money and he should pay tax on only the earnings. That's howmI see it; others may chime in with more information.

I am not a CA resident. Do you have CA Sch CA 540NR open? That form does the allocations between total and earned inside/outside CA. In the 'Subtractions' column there should be a 'bunny hop' arrow to take you to an underlying schedule for the allocations.

The $10,000 cap is specific to Schedule A