Lee B

I have been doing this on my own tax return since the first year it was allowed, just as Lion described. Very easy. Also have most of my clients who qualify doing this also.

Copied from IRS Website: "The IRS is now opening mail within normal time frames. The IRS has also made significant progress in processing prior year returns. As of January 29, 2021, we had 6.7 million individual tax returns in the processing pipeline. For refunds that could not be issued in 2020 because the tax return is being corrected, reviewed or awaiting correspondence from a taxpayer, the refund will be issued as a paper check in 2021 per our normal processes. Taxpayers are encouraged to continue to check Where’s My Refund for their personalized refund status. How long you may have to wait: It depends on where you sent your tax return and where it is in the process. We are processing returns we received over the summer due to the extended July 15 tax filing due date and, in some cases, are processing tax returns dated as early as July 15, 2020. However, we are rerouting tax returns and taxpayer correspondence from locations that are behind to locations where more staff is available, and we are taking other actions to minimize any delays. Tax returns are opened in the order received. As the return is processed, it may be delayed because it has a mistake, is missing information, or there is suspected identity theft or fraud. If we can fix it without contacting you, we will. If we need more information or need you to verify that it was you who sent the tax return, we will write you a letter. The resolution of these issues depends on how quickly and accurately you respond, and the IRS staff trained and working under social distancing requirements to complete the processing of your return. What you should do: Other than responding to any requests for information promptly, there’s no action you can take. We’re working hard to get through the backlog. Please don’t file a second tax return or contact the IRS about the status of your return. SPECIAL NOTE E-filing your 2020 tax return: To e-file you will need to enter your AGI from your tax year 2019 tax return. If your 2019 return has not yet been processed, you may enter $ 0 (zero) as your prior year Adjusted Gross Income. If you used the Non-Filers: Enter Payment Info Here tool last year to register for an Economic Impact Payment, enter “$1” as your prior year AGI."

The instructions for 1120S just say that it should be a separately listed line item under 17V.

Excellent point

Partners with self employment income can also deduct office in home as UPE.

The taxpayer should have additional info i.e. a letter from the Dept referring to the specific program under which the loan was cancelled

Are you referring to a Schedule C "office in home" ?

The IRS has announced they are finished making additional "expedited stimulus payments" even though payments may still be in the mail. "As of January 29, 2021, Get My Payment will no longer be updated for the first and second Economic Impact Payments. " This apparently means that the "Get My Payment " tool will not reflect any of the expedited payments made during February. Well that really throws sand in the gears!

I posted a copy of a detailed article from Forbes about this issue in the Covid 19 Forum on Feb 7th.

Really, give me a real life example that makes sense?

How is this a legitimate W -2 ? No combination of these numbers make sense!

According to The Tax Book, IRA - Yes, 401K - No

Rita, I really like your insight on all the stuff we deal with

That's what what is so insidious about them. They have learned how to spoof any email address, just like scammers spoofing any phone number. Last year my wife received phone call from a scammer and the spoofed phone number was her own cell phone number!

In my experience that won't work Abby has you pointed in the right direction.

Be very careful, there are a lot of scam emails just like this, purporting to be from will known businesses that we all deal with. In years past these emails were a bit crude with obvious grammar errors and were easy to spot. I was reading an article several days ago about how the majority of these emails were coming out of Nigeria. They did an in depth interview with a Nigerian engineering student who said he made $ 50,000 last year doing these emails.

When you open the return in last year's program, also update the forms, which may clear the mismatching error message.

Actually this trail of breadcrumbs leads to Form 8915E

See IRS Notice 2020-50

Yeah ATX has a long history of problems with state forms early in the tax season. My experience usually went like this: 1. Problem with an Oregon Form, usually a business entity form. 2. File a support ticket, no response from support 3. After about a week, the support ticket would get closed 4. Miraculously, a few days later the problem would be fixed and the form would work

Copied from The Journal of Accountancy: "The IRS instructed lenders that have erroneously filed or furnished Forms 1099-MISC, Miscellaneous Income, reporting certain payments on U.S. Small Business Administration (SBA) subsidized loans as income of the borrower, to file and furnish corrected Forms 1099-MISC that exclude these subsidized loan payments (Announcement 2021-2). Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, the SBA is authorized to pay six months of principal, interest, and fees on covered SBA loans. The Consolidated Appropriations Act, 2021, P.L. 116-260, provides that these payments are not includible in the borrower’s gross income. In addition, Notice 2021-6, issued Jan. 19, waived Form 1099-MISC reporting requirements for these payments. If a lender has already furnished Forms 1099-MISC that report these loan payments to borrowers either before, on, or after Dec. 27, 2020, (the date of enactment of the Consolidated Appropriations Act, 2021) the lender must furnish to the borrowers corrected Forms 1099-MISC that exclude these loan payments. In addition, if a lender has already filed with the IRS Forms 1099-MISC that report these loan payments, the lender must file with the IRS corrected Forms 1099-MISC that exclude these loan payments."

Copied from Pub 596: "Income That Is Not Earned Income: Examples of items that aren't earned income include interest and dividends, pensions and annuities, social security and railroad retirement benefits (including disability benefits), alimony and child support, welfare benefits, workers' compensation benefits, unemployment compensation (insurance), nontaxable foster care payments, and veterans' benefits, including VA rehabilitation payments. Don’t include any of these items in your earned income."

What is qualified improvement property examples? Examples of such qualifying improvements include installation or replacement of drywall, ceilings, interior doors, fire protection, mechanical, electrical and plumbing. Excluded from the definition are improvements attributable to internal structural framework, enlargements to the building, and elevators or escalators

Just a thought, how does a high school student meet the "availability for work" requirement and draw this much in unemployment???

Doesn't ATX still have their forms list showing status and projected availability dates?