ljwalters

It does sound like it is for the employer’s benefit. So what is the problem? Did pub521 say that the employer had to force the transfer or just be to his benefit? Just my two cents. Linda and buddy

Yes it is a client. I know he has never refinanced, because I have been doing his taxes since he purchased the home. The strange part to me was that the 1099C said not responsible for debt. But, the 1099A said he was responsible. Why would that be? I have about 6 of these this year and thought this would be the easy one. 1 a short sale and 2 foreclosures and 2 bankrupts. And I have a very small practice (less than 100 clients). Linda and buddy

She was asked at the interview if she had any tattoos. And then where they were. Only the one on her leg, above the sock line and below the knee was asked to be removed as a condition of employment. Fire fighters some times where shorts evidently. She is with Calfire. I did not give her the deduction but had to ask. He was hoping for a job search cost deduction. After she removed the tattoo, she got a job at another station in a different town. The cost was $1300. I can see why she went to the expense, a lot of cities are lying off police and fire, not hiring. Just a sign of the times I guess. Linda and buddy

Client was required to remove a tatoo on her leg as hiring requirement. Would this be job search expense. She is a fireman. I said no. but she is insistant. Linda and buddy

Thanks Elfling Linda and buddy

I read that a spouse who is disabled and can not care for himself is a qualifying person for 2441 credit. I can not figure out how to get the spouse to come up as qualifying person. I have checked disabled on the 1040 filer information. Any Ideas. Client is in office. Thanks Linda and buddy

It was primary residence but it was never refinanced so it sould have been a nonrecorse loan. Linda and buddy

I just read that you can file a duplicate return if you make a mistake on your original return if filed by deadline. I always thought you had to file an amended return. Is this new or have I always been wrong. Linda and buddy

What is the depreciation life of new windows in a rental home? If not 271/2 years how to input it? Thanks Linda and buddy

Same old story client lost home. received both 1099 A and 1099C. The 1099A box 5 liable for repayment of debt is checked yes. Fair market value lower then balance. The 1099C has the correct amount loan less fair market, but the box 5 indicates not liable for dept (checked NO) Do I not use the 1099C Linda and buddy

I had a client come in December to file, 06,07,08,09. He had a business and even had payroll in those years. He doesn't seem to have time to bring me the info I need (helping some one move, or needs time with his kids). I finely told him the IRS doesn't care if you ever see your kids again or if the friend down the street ends up on the street, penalties and interest are still accruing. They just want the return done. Finally he brought me some more stuff. OUCH! He bought a house with his parents for 230,000, then six years later sold it to his parents for 957,000, thru an escrow and gifted the 230,000 to his parents for their down payment and they got a loan for the rest. Shortly after that the parent lost the home to foreclosure. I told him he needed a lawyer. This sounds like fraud to me. And that I would work under the lawyer if he wanted. He tells me his parents CPA told them there would be not consequences to him (financial). So, I told him to go back to their CPA. Those were his only two options. He left my office to think about it and called me to say he was picking up his papers. That was two weeks ago. I finally revoked the POA I had and would sure like his stuff picked up out of my office. Clients like that I don't need. MY sad story Linda and buddy

thanks kc

Have a client that I decided not to do his 4 years back taxes. He doesn't have enough info and seems shady. I already have POA on him and Need to cancel it. I have convinced him it would be in his best interest to hire an attorney (or his moms CPA that got him into the trouble in the first place). He is coming today to pick up his papers. What is the process of canceling the 2848? and is it better for me to cancel it or the client? Thanks Linda and buddy

I just read an article stating that the renewal dates for EA's this year has been postponed. Has anyone else hear about this? I seemed to have lost the correspondence, and can't remember the exact dates. Linda and buddy

This client purchased in 2002 and sold in 2009. He actually had a profit of about 45K. It wall all eaten up in sales commissions but stil, with as many forclosures and short sales I have seen in my area it must be a miricle. Linda and buddy

Thanks everyone. I have just one more questin. WHY am I worring about this on Oct 15th? Am I nutts? I have never had so many clients wait until the very last minute before. A couple of them actural owe big bucks. Linda and buddy.

rfassett Does that me that you have successfully e-filed a return with negative AGI? I just talked to E-fie services and they said it would not be a problem Thanks all Linda and buddy

I got mine a week or so ago on the website and was given my old number P00021616. Linda and buddy

It seems to me that a negative AGI has to be mailed is that correct? Linda

Thank you so much That is what I was looking for. Linda and buddy

I sent that already. The bank agent tells there is an actual form and the IS says there is not. When I tod the Bank agent what the IRS told me he still argued with me, so I told him to fax me a copy of the form he needs so I could find the form no. on it. Linda and buddy

I just had a client that is on extension tell me that he needs an acknowlegement from IRS that the extension was filed. This is for a loan company. Does any one know what exactly they want. There is an acknowledgement giving acceptance date for the 8879 would that work and what form is it. Linda and buddy

Wishing you a Happy one frome here too.

A couple of years back at one of the seminars, I think it was Las Vegas. There was a court ruling discussed where the courts ruled in favor of the tax payer who deducted mortgage interest reported in parent name. This was a case where the child took over payment for an ailing parent that could no longer maintain the home. The tax payer paid all the bills and the taxes and repairs on the home. Has any one else heard of this ruling and if not how to start in my research to find it again. I couldn't find the old CPE booklet that discussed this ruling. Linda and buddy

H V Ken The one time saver I would most like in proved is the print menu. It would be really great, save paper and time if we could the pages we most often print on the Preferences menu. Linda