ljwalters

I had one of those call last thursday I told him to come friday and plan on spending the whold day. He did and we filed 4 returns that day '07, '08, '09, paper filed and Efiled 2010. No way I was doing the on the 18th. He hadn't filed since 2000 except for 2004 seems he thinks he only needs to file years he thinks he is going to owe. I told him if he didn't want his refund to come to me and I would file and accept the money. Averaged 2000 per year except for 2010 only got back about 212. Go Figure. Linda

Yes thanks to every one. Especially those who jump in and kept me from making a huge mistake when I wasn’t in my right mind. This was the worst tax year ever for a sole proprietor as far as person upset goes. First in February I had to make the decision to put down Two Horses that were both born her over 30 years ago. That was real hard to say the least. Then you all know about Buddy, my constant companion and friend to all my clients, especially those with children. Then Saturday two days before the season was over, with a client in the office I get a call that my 86 year old sister in-law is in the ICU in Madera (two hours away) heart attach. My husband had to go by himself, kind of understanding. Finished my last return yesterday at about four o’clock. Last night I had a nightmare that I forgot to transmit his return. I ran out to the office and everything was filed and accepted. Just goes to show where my head still is. Oh and by the way the client with the partnership had to be extended her mother past away before she was able to complete her review. I guess I won’t get my snowmobile trip with Ann in the hospital. But all is well I’m still breathing. And the Granddaughter just got here. Thanks for listening. Here’s to a better year in 2012 or at least a calmer one. Linda

This is good to know I now run ATX 06 thru 10 on my vista computer and was offered an upgrade to Windows 7. Now I am thinking that is not such a deal for me. Never thought to ask what would run on windows 7. Linda

California Return shows the total Federal AGI from railroad retirement tier2 and then adjusted it all off under pensions and annuities. I didn’t notice it before I sent E-File. This is a simple return and there would have been no CA Tax any way, but why did program send a CA return with 0 adjusted gross income. Should I amend to at least get the figures correct? Return is exactly the same as last year. Linda

Thanks Linda

The 7004 for business returns does not seem to have a form similar to the 8878 for signatures. Is this correct? Linda

Easy question. HAA HAA. What form do you give the client when you efile an extension with a balance due. Linda

Thanks every one. Your right she is not an employee. That settles every thing. I guess I’m just not thinking to well these last couple of days. I just got back from the vet to put Buddy down. Very Hard. And at this time of year. And Jainen I ‘m sorry I barked back earlier. Thanks for keeping me from making a mistake on this return. Maybe I should just quite for a couple of days to get my head straight. Linda

Jainen, The “this is Legit” was referring to the office leased out to contract workers. The partnership takes in well over $450,000 income. And the income is split between X and herself. The office in home is of course solely used for business. Bookkeeping, Contract seeking and Data Gathering. She is not licensed to do the work her company does. She does Every Thing else. I Do take offense at the fact that you “assume” the office in home is a joke. Bring on the audit. All tax returns I do are clean and ready on my part. I take office in home. It is still an available form and deduction, is it not? All that aside, THANK YOU for leading me to the right paragraph on Sch E. What if it is not under the partnership agreement, can’t take them on the E, does it mean she can not take them on the A? Linda and Buddy

Client is general partner for LLC. There is an office down town but she works mostly from home. She does not have an office at the "Office". All the space is leased out to her contract workers. (yes this is legit) How do I add an office in home to her personal return. Do I have to use a 2106 and put it on the A? Or is there some way to link it to her K-1 to go towards her SE income. Her portion of the profits was over 75K this year. Linda and buddy

Thank you, Thats why I read this board, to correct my misconceptions. Linda and buddy

Thats good to know. Thanks for your help. Linda and buddy

IMHO there is no loss. This property was not used as income generating of any kind, therefore is personal property and no loss. Please correct me if I’m wrong. Linda and buddy

Sorry to hear that necpa, I had to drop my insurnase a year ago, over #$700/mo. I pray for healt each night. Need to make it 5 more years. Linda and buddy P.S. Tahoe for a wek of snowmobiling April 21.

Thanks bcolleen

Client came in as asked me about the mandatory distribution he needs to take in 2011. He wants to know how much he needs to take. Is there a website that will calculate it for you? His IRA consultant told him to as his Tax prepare. I know it needs to start in year you turn 70.5 and I know it is based on total of all IRA and 401K monies. That is the extent of my knowledge. What do I tell him? Linda and buddy

First question, Oid is reported as interest correct? Second question 1099B 2 entries on same stock cusip everything. On the Detail sheet it only shows the first entry which seems to be a return of capital or principle. No entry for the second one. I am guessing that the second one is the profit. The principle is coded long term. Do I enter with 0 basis and use long term? Client seems to think it was a muni bond. And the oid is linked to it also. And why would the 1099OID have a description of long term OID? Does it make a difference if it is considered interest? All confused Linda and buddy

Thanks Linda and buddy

Use the Elections and statement worksheet. Linda and buddy

Thanks Pacun Linda Actually I had already read this once, I think I,m just brain dead and a little fogggggyyyyy from hayfever meds.

Does medicare part B qualify for the self-employed health insurance deduction. It seems to me I heard something about this at update this year, but I may be wrong. I can't find anything today. I'm ready to quit. Never had allergies so bad. My yard is still flooding from last week and its 80 degries at 8:00 pm go figure. Linda and buddy

Give me a date or something to search on and I would be pleased to read your post. Thanks Again Linda and buddy (searched "Form 982" and " Cancellation of debt" got nothing.

How do you get the sale of a residence to show up on the schedule D with a loss non deductable of course. Linda and buddy

Client called the lender and could get no answer to why they have not received 1099A or 1099C since this happened in October of 2009. She did have forwarded mail. Has given me all the documentation for the insolvency but we have no bank info. To go on. What would you do? Lina and buddy

Filer is in a rest home, Daughter handels all the financial stuff. Filer does owe. The amount is so small it would not generate a return on IRD (amount $173). Thanks Linda and buddy