ljwalters

Wells Fargo sent 1099R in deceased wife’s name and social. Marked 7 normal distribution. How do I handle this do I need to get it corrected? Linda and buddy

Thanks Linda and buddy

Did you change the birth date also. This should have kicked it back. The match SS Last four and BD. Linda and buddy

OK no E-File of S Corp. Does Colorado need a copy of the Federal 1120S. Linda and buddy

I called Colarado E-File help line. They said I could E-File the S Corp. But I can't find the form. What is the Form # and Where do I find it. Waiting Linda and Buddy

Has anyone ever suggested that their client try paying estimates monthly instead of quarterly and would the IRS have a problem with that? Income is mostly from alimony and then disability. Barely enough to pay living expenses, she can’t manage $450 every four months. I suggested she try to pay monthly for nine months cutting the amount down to $203. Will the IRS have a problem with that? Linda and buddy

Thanks, I thought that was the way it shoud go. No land because it is a condo. Linda and buddy

The POA is SUPOSE to include IRS tax returns in the wording of the document. He would not sign as surviving spouse. He would sign her name and the word “by” his name “POA”. That should work for surviving spouse also. Linda and buddy

Again sorry for your loss. As for the name goes--- If the first name is Santiago and the last De Hernandez the just run the last name together with no spaces (DeHernandez). If the last name is Santiago De Hernandez then try the first name plus the first for of the Last (Santiagodehe). I have several of these and these are the ways I have gotten them thru. Linda and buddy. PS you can always call the EFile lhelp line and they will tell you exactly how the want the name. Thats how I got the info.

Thanks KC. Am I right to start the depreciation of his old basis over at 27.5 years? Linda and buddy

I read pub 503 and found nothing about not being able to pay a parent for child care. SOOO. Why can this Grandmother not be allowed to accept payment for carring for the baby. File her own tax return using SCH C. Not arguing just asking. Linda and buddy

Client owns rental condo with ex-husband. She filed a quit claim deed this year, so now she owns 100%. How do I add the additional depreciation to her asset sheet? Facts, I think this was supposed to happen during the divorce 5 years ago. She gave nothing in return. I am guessing I would add the remaining of his basis to her asset worksheet, and depreciate the rest over 27.5 years, leaving her portion the same. (Similar to the way you should handle a 1031 exchange is this right? Thanks for your help Linda and buddy

Does this mean if the child pays say $100 per week for parent to provide child care after school for the grandchild The adult child can not claim these payments for childcare credit? I did not know this. If the child care is provided at the grandparent home is it a different story. Linda and buddy

L.S. Be sure you fill out the work sheet for line 1, 2, and 3. Check tabs at the bottom. Irf the taxpayer did not make an additional contribution then line 13 should be 0 or blank. And the cacher is the double entry on part II line 15. you must reenter the amount of qualified distributions or you will get a figure on line 17 which you don't want. This is a tricky form, it took me several years and a couple of amended returns to finally get it right. Linda and buddy

>Seems like a slam dunk. Changing to 1099 without any change of duties is pretty blatant. < The employer started with 1099 went to W2. My only concer is that the employee was warned before she started working that she would be 1099 for the first month. But that doesn't make it right.

Ditto. I tried putting in the same info in a 2009 retrurn (bogus of course) and the election page did NOT pop up. They seem to have changed the program in some manner. Speaking of program changes, my first self-employed medical insurance SE deduction went just fine. When I went to recreate and efile the return (after 8879’s returned) I almost sent it off with 3,000 dollars additional taxes due. The program updates had reversed the deduction and I had to go back in and enter the amount on the SE form. This could have been a disaster. I found the change truly by accident. I may be just ranting BUT if you have any of those still sitting in your open files you might want to check on them be for completing for efile. Linda and buddy

Client, a medical assistant, worked for a doctor for 5 months before quitting. I won’t go into the reasons. She received both a W2 and 1099 misc. When I questioned her she told me that the doctor told her after hiring her that she was changing payroll companies and that she would be “paid on 1099” (dr.’s words) until the change over was complete. The 1099misc was for first 3 months of service and the W2 was for one month. First is that legal reason to pay an employee as contractor. Second, client didn’t agree but she didn’t say no either. There was no written contract stating 1099 wages. She wants to file the 8919 and SS-8. Is this verbal statement at time if hiring enough to cause client to loose. Which way would you go? Linda and buddy What a year?????

Veeeerrrrry innnterrrressting. Pretty cool Catherine. Linda and buddy

Don't forget both the Estimates and the withholdings are also divided. Linda and buddy

No Go. She makes to little cleans houses for a living and he has social security income higher than the 50% required for support. He lives in a motor home on her property (3 acres). But she does cook for him take him to all his dr. apts shops for him. She also makes sure he takes his meds and doesn't fall getting in and out of bed (one time this happened and instead of calling her, he called me to take him to the dr the next day). I happen to do all his financial work including paying bills and handling the movement off his various investments and taking him to the bank to make the gifts each year. None of his other 4 children will put up with the Alzheimers, but they don't like her getting paid. He only claimed her pay as a deduction one year because of an annuity he cashed out. But she claims it every year. Good idea though Linda and buddy

Ok, Thanks bcoleen. Maybe that is why I couldn't find any thing in my research, I wasn't including under 18. Linda and buddy

I have never done one of these before so if this is a stupid question I am sorry. Father pays daughter for help in caring for him. This is income to her but is it subject to SE tax. Father is 92 years young with the beginning stages of Alzheimer’s. It can not be considered a gift because he gifts each of his children $12000 per year. What do you think, SE tax or no SE tax? I seem to recall some rule about no SE tax for family members. Linda and buddy

I was inputting auto expense for a small new business (a mere 680 bus miles). All of a sudden the message “choosing standard mileage is an election to exclude vehicle from MACRS per Code Sec 168…” When I check the election tab, it has put her info under the partnership information. I start another return that has standard mileage for a different sch C and that one does not bring up this election. Which is right and how do I fix the other one. Is this election new, wrong, or something I have missed all these years? Linda and buddy

The 1099B was sent by wells Fargo share owner services and states right on it that they do not calculate cast basis. I am guessing she needs to go back to the former employer. What about the w2 is that how you would handle that part? Linda and buddy

I am use to dealing with a complete w2 marked corrected. But, in this case I have the original w-2 and a form w2c. The w2c shows a change to box 1 only not box 3 or 5. Then in box 14 it shows $ 35k+ ISODD. What is this and would it change the ss wages. Then I have a 1099B from the same co. that shows a sale of stock for $40K+. There is no form from the company payroll explaining stock purchases or same day sales, or even basis. Client left this company, should I send her back for more info. As for the w2 do I just input the old figures and change just those to boxes and mark corrected. At a loss, tired, hungry and grandchild is bugging me. Linda and buddy