Randall

Anyone efile an amended 2019 yet? Is the procedure the same. I've prepared it in ATX 2019, created the efile. Everything seems to be set. Are we good to go for these with IRS or do we wait until Friday like the 2020 returns. Also, how do the states work? ATX prepared the Ky amended as well and the creation of the efile is set up. I assume it will go thru.

Is there a special form for those who didn't receive the stimulus payment? A client said she 'heard' you need to have this special form. I think this is input on Form 1040, line 30. There's a worksheet which shows the amount to go on 1040. But I don't think there's a new form? Just looking for some verification here to offset something a client 'heard'.

I found the box. I was looking all over for it.

I've had this happen in the past. I never had to reboot the computer but I have had to restart the ATX program. I'll see if it happens for 2020.

Where's the box to check?

Are you saying ATX will automatically calculate EIC based on 2019 earned income? I have a client. Did not qualify for EIC in 2019, was only 24 years old. In 2020, she is 25. Her earned income(W2) went down. But she drew unemployment and her AGI is over the limit. So would she be able to use her 2019 earned income or would she still not be qualified in 2020? I didn't see anything automatically from ATX.

As I understand, the option for using 2019 earned income is only if 2019 is higher than 2020. My client has higher 2020 earned income and went above the eligibility level. Therefore he can't opt to take the 2019 amount. And ATX doesn't have anything in his case. I'm assuming from your comments that if 2019 was higher than 2020, ATX would have these options available?

They took the full 100k. I double checked with him to be sure. The Fed would probably not change over 3 years (unless like you said, they got a windfall). The Ky would help them to spread it out. I will run it by them again.

A client just informed me he will not pay it back and wants to pay tax on the whole amount in 2020. So I don't think I need to wait on Form 8915E. If I mark the 5329 code 12 so there's no penalty, the regular tax will just calculate as usual.

I think the 8889 is now available in ATX.

I just re-input it in the other worksheet (not the original 1099R input sheet). And I put nine zeroes for the SSA1099.

I entered info from 1099R, checked the box at bottom of input screen that it was due to coronavirus. Nothing shows up as taxable. On Form 5329, I checked the code 12 so no penalty is calculated. I understand that a person has 3 years to pay it back without it being taxable. But I also saw where the taxable portion would be prorated over 3 years. I can't find anywhere to input this info. Form 8915E is not yet available. I'm not sure if this is where I would input it. I didn't see any elections for this available either.

For ATX, something new this year? I input 1099R and SSA1099 info with tax withheld. Doing the check return, errors saying I needed an EIN for the payers. The 1099R had the payers ein but the error came up anyway. It took me to a worksheet and I input the 1099R ein again on the worksheet. For the SSA, there was no ein. The error message said I could input nine zeroes which I did and the error message went away. Anyone else encounter this?

No clients yet. But for my own $1200 stimulus, I received an accompanying letter that was labeled Notice number 1444. Fortunately I saved the letter. I did not receive this for the recent $600 stimulus. I'm wondering if this is the only thing to receive, not a separate end of year form. And I received a check in the mail. Not sure what people received if they had direct deposit.

One thing to note, when you turn off 'Services' for ATX, if you don't complete the whole process in one sitting, 'Services' will be turned back on automatically when you restart your computer and another 'Server' folder will be added.

I got this link from ATX support that walks you thru the process. In the past I did the import method. https://support.cch.com/kb/solution.aspx/000048812

Thanks jklcpa. Yes, that's the situation. That's what I was reading too regarding the IRA contribution. Thanks for the heads up on SEHI. I was thinking of the IRA but there would be no SEHI deduction.

As for compensation requirements for IRA contribution eligibility, is Box 1 or Box 3 the determining amount. Just wondering regarding the s corp health insurance deduction. If that drops Box 3 down to zero, would Box 1 amount still allow for an IRA contribution.

Whoa. But I can understand when you pass these things so late in year

I only do a few. I always order the forms (red originals).

Any word on when the filing season will start?

I'm waiting on my new computer. It should have been here a couple of weeks ago. The support number I have from sometime back is 1-800-638-8291. Not sure is it is still current. I don't know what the concierge number is.

ATX still hasn't updated the worksheet. Both go on Line 30, but the new worksheet has two separate lines. They're calling it EIP1 and EIP2.

I saw the IRS instructions on line and the worksheet does have 2 separate line items, one for each stimulus.

I do it the way Margaret does. I'm working on mine, a little each day. I noticed the questionnaire did not have anything about receiving the stimulus.