michaelmars

Maribeth is correct. Who cares if the irs knows it was reported, why open an estate just so they can follow the income. If you get a notice, answer it. Her answer is practical and the way i would do it.

he gets both he can own 2 houses and he can house his parents. but the parents shouldgive the money to him and he should pay all expenses. you are allowed 2 homes and you are allowed to house your parents.

IF an investment the expenses will be added to cost basis

alot of companies offer the calc on their website under investor relations

easy solution is to form a new LLC each time so the entity avoids too many swaps and thus dealer status

http://finance.yahoo.com/taxes/article/104...'t-Tell-You

DISREGARD

CIty and state go on same forms it203 & it360. should be what u need

me too, i don't always get state filing copies when i print everything. i posted this before and last year and the year before that, only business returns and ATX is clueless as to why. i must say that it happened 85% of the time last year and only once or twice this year.

MAYBE he rented it the last few months to convert it. Perhaps Mr & Mrs Howell III wanted to rent their own boat this time around.

I don't believe you guys really have these problems, for 2-3 years ATX swore only i had the print menu items jumping around as i clicked them. Either you guys are lying or a major tax preparer software company with impeccable integrity and a policy of always doing whats best for their customers was lying to me. Next you'll tell me there is no Santa Claus either!

i had this the past few years but only once this year. its a pain but after i click all i want i would collape and then move the client doc section back on top.

i figured the entry at top of date business started would do it but oh well -thanks

Got a client that uses 20% of home for business. but this only started 10/1/07 how do i enter the percentage so that sch A items transfer correctly? - anyone have any clues?

i was locked out this community for about a week since the server changed. I appreciate your help in getting my ISP fixed. -Michael

THE KB DOCUMENT YOU NEED IS 16568

i had this in the past and there is a kb on it, but somewhere in the program you have a file duplicated, from memory from last year it has an extension .mcb or .mcd. thry searching for that in the kbs or mention it to tech unsupport

thanks thats great!

i wanted to delete a post but edit is just that, edit - it would not let me delete it, is there a way?

omit

leave as is, just encourge people to but nt before such posts

IF YOU do business in NY you should do a return, after all a tenant may issue a 1099 showing rent paid and NY will not know of the expenses to offset it to a loss, plus the loss may carry over! NY has a new form just for this situation, i forget the number but its the same as the federal passive loss limitation calculation

no one resists efiling more than me, but its mandatory in NY

profit from rentals is not subject, even for a re professional. management fees are subject.

but don't send it in now, wait for a notice or it will be lost forever