TAXBILLY

N/A for 2008 returns. taxbilly

I had the same problem many years ago when I had my first one. taxbilly

There's nothing to question. It's merely an entry on a form that might be used. In this case it isn't. taxbilly

Schedule E, top of the page. taxbilly

I would not make a Box 20A entry. taxbilly

Is each buyer paying you separately? If they are then I would set up multiple 6252s. You may eventually run into a case where one buyer may not pay you. taxbilly

To protect yourself I would suggest he get something written from the union that he is required to do this. If he ever gets audited he will blame you. taxbilly

Is he an employee of the union and if he is does the union require that he does this? It would be highly unusual for the union not to reimburse him if it is part of his job. taxbilly

Yes on the amend. No on the other. taxbilly

Equipment donated: sold at zero. Vehicles kept: disposition is : converted to personal use. When and if he sells them he will possibly have a gain. taxbilly

It threw me the first time until I checked the worksheet and remembered the 0%. taxbilly

Thanx Wayne. They are coming fast and furious. taxbilly

The tax rate was cut to zero in your case so it is correct. Follow the worksheet for that line. taxbilly

2008.7.0.156. taxbilly

Julie is asking if you put in the OK income as well as the OK tax withheld. taxbilly

May you have many more! taxbilly

Are the FEIN numbers the same on both? taxbilly

It never ceases to amaze me how the clients are willing to give the government an interest free loan on their "big" refund during the year but then want us to rush the paperwork so that they can get their refund instantly. taxbilly

This is done to make sure the bank gets the actual return that was filed. taxbilly

The new law covers purchases from 1/1/2009 to 11/30/2009, not 12/31/2009. Why? Just to make things more complicated. Why not just paper file and save the client the cost of amending later? taxbilly

Yes. taxbilly

I believe your assumptions so far are correct. taxbilly

I make no claim one way or the other. The reg, as you suggested, is not clear. taxbilly

It's not an article. It is the reg. taxbilly

http://www.taxalmanac.org/index.php/Treasu...%2C_Sec._1.62-2 taxbilly