Randall

My understanding is with multiple IRA accounts, the minimum distribution must be calculated on each account. But the actual distribution (total of minimum amount on all accounts) may be distributed out of only one of the accounts. Has anyone experienced a problem when this is done this way? That is, IRS letters assessing penalties for no distributions on the other accounts. I would assume the IRS would trace the ssn from all accounts and realize the distribution from the one account covers all the accounts. But I'm wondering if that is so and would there be a need for follow-up letters and explanations, copies of statements, etc. to clear things up.

I remember that discussion. Something about a late 2014 DOL ruling. IRS extended the previous conditions to 6/30/2015. Has anyone heard anything about IRS ruling on that beyond 6/30? As I recall, we were uncertain how to treat 2% S Corp shareholders. My understanding now is that the S Corp shareholder will have to include premiums paid in his W2 not only for income tax purposes but also social security and medicare tax purposes. I would also advise shareholder to pay his premiums with a personal check and not a business check. Then shareholder also take SE health insurance deduction on 1040 p.1. For other employees, if employer wants to help employees with their health insurance, the additional pay must be included in W2 and have no restrictions on how employee spends the money.

I've gotten more info. Some stays may only be 2-3 days but one was 6 weeks. No cleaning service except in between rentals. Yes furnishings are there but you can rent furnished apartments, etc. I suppose you can go either way. I've decided to go with it as a rental.

Thanks DANRVAN for comments. I keep going back and forth. I'm leaning toward rental now. There's no meals or dialing cleaning services.

A side question. If the original return has not been filed yet, is the refund deadline two years from when the tax was paid?. Say 12/31/xxyear for W2 withholding.

Working on a past year return. Client's farm hit by tornado in 2012. Want to claim the casualty loss in 2013. I think any 2012 refund is lost. Is there some input selection for 4684 to carry this over from 2012 to 2013? Or do I just enter it in 2013? If I enter it in 2013, how do I show the fixed asset depreciation ending in mid 2012. That carries over to 4684 in 2012.

I have the same version.

I opened a return and it was there. I opened a new return and added the voucher.

Has the renewal time period started yet? I haven't received any official notification from IRS.

Thanks for the references. Seems to support what I thought. Non-rental. Client materially participates. No losses. Profit so SE tax will apply.

Client rents a house thru the HOMEAWAY service. It's short term rental like motel accommodations. They pay the local lodging taxes. Just want to verify that this is not considered a rental business but a regular business (Sch C not Sch E). In my case 1065 but no Form 8825. Also, depreciation would be 39 year non-residential.

mcb39, I've done that in the past with no problem on the efiling. Do you really think that would be the cause of the efiling rejection?

Thanks. Spouse was deceased in mid 2014. Filing as surviving spouse. I moved the deceased spouse (husband) to the spouse line and used surviving wife as taxpayer. Efiled the extension in the spring and no problem with the efiling.

I received a rejection error code IND-510, spouse ssn cannot be same as ssn used as primary on another return. Does this mean possible fraud use of the ssn? I remember the topic was discussed previously but I can't remember the procedures. Do I need to paper file the return? Is there a special reporting form also regarding this? Also, is there a publication of all the rejection error codes? I know there used to be in the past but I can't find it.

If using COGS, I use other and list it as contract labor for 1099 subs.

Good to know on the rollover instead of duplicating. Thanks.

I had a trust return earlier (2014 calendar year and final short year in 2015) so I don't think I had any carry over numbers. You may just have to input the beginning numbers. Yes, duplicate the return, rename. My efiling was rejected by ATX for reason of it already being filed. I called ATX and they did something to set it to go thru the efiling process. I will have an estate income tax return coming up with a FYE of 5/31/15 and another final short year ending in 2015. No, you don't have to wait for the 2015 forms or 2015 software.

Are you talking about the efiling of the 2nd return in the 2014 software? I think you have to call ATX and have them do something on their end to allow the 2nd return to go thru.

For Ky, this form is not required if efiling with a Fed PIN.

It's already been two and a half years on my laptop and one year on my desktop. Win 8 and 8.1. No need for me to update to W10 because I'm not getting a new system. For those actually planning to get a new system, they'll just have to read your comments and Eric's comments and make their decision.

Jack, true, I'm a one man office. There are budget constraints. But even then, if you're buying new, I still can't see buying a 5 year old os. Getting used to the new interface is minimal.

I can't imagine buying a new system with W7. It may be supported until 2020 so buying today may be ok. But what about next year and the next? What about buying when there's only one more year left of W7 support? By then, maybe W11 or W12 will be out. Will you be afraid of the latest os? Or will you be confident enough by then to go with W8? I think this will go on and on. I've always liked to buy the latest, use it as long as I could, then buy new with the latest. I was fortunate enough not to have to buy new when Vista came out and could continue using my xp until W7 came out. I may have bought Vista, may have gotten burned or not. I don't know. But W8 has been out almost 3 years. Get the latest and learn the new interface.

I disagree. If I were buying a new system today, I would go with the latest os. W10.

I agree Eric. I have 8.1 but I don't want to update to 10. I see no benefit at this time and I shouldn't be in the market for a new system for several years out.

And now the divorce lawyers can have more business. Same sex divorce.