Randall

Yes (agree with Bulldog), if business mileage. I would offset distribution. Debit to Auto Expense, credit to distribution (if enough already there to offset). I don't understand the debit to compensation since that should flow thru the W2 payroll reporting.

I too use pdfFactory. But I have Acrobat. I like to print in pdfFactory. Then from pdfFactory, I can with one click convert to Acrobat. I can do a lot more within Acrobat so I like to have my pdf files in Acrobat.

I like to do the Sch L but not for clients with just rental activity.

They're out there.

Sales people are always making comments like this regarding tax treatment (fully deductible or whatever). Tom is right.

To correct a corrected 941-X, do we just add a 2nd 941-X in ATX Payroll, then use the previous 941-X numbers as our original numbers in the 2nd 941-X. That's my approach unless there's a formal way to do it. I plan to enclose a copy of the first 941-X. To correct a corrected W2, I'm not sure how to do it in ATX Payroll. Do we just override the previous W2c info with the corrected amounts from the original W2?

And while on the subject, I'll copy my previous post here: Ohio LLC, all members non-resident. Just a small loss. I'm not seeing a filing requirement. The composite return 4708 seems to be if there is tax to be withheld from nonresident members. Is there any filing requirement at all?

I've efiled IT 1040s. But with the IT 4708, I didn't even see the EFile info available in ATX.

Anyone begun correcting the 941 and W2 for S Corp shareholder in light of the recent IRS notice? Do I understand that we can back out the amount of the insurance premiums for Boxes 3 & 5 and request a refund for the additional FICA tax paid?

Thanks

What about an estate with no income but there's an EIN. Do you file a return just to close out the EIN or just let it ride?

Ohio LLC, all members non-resident. Just a small loss. I'm not seeing a filing requirement. The composite return 4708 seems to be if there is tax to be withheld from nonresident members. Is there any filing requirement at all?

For election to write off organization cost in first year (less than $5000), I don't see an election option in ATX Fixed Assets or on the Elections tab. 4562 instructions say no statement is required. Do we just enter it as an expense with no 4562 and no entry in ATX Fixed Assets?

I don't enter the cents either.

I was just hunting and pecking around. I wondered why this wasn't there somewhere in cyberville. Now if ATX can present this in a one click function on the Print menu, that would be great.

I make sure I have copies of their statements in my file showing the dates. Withdrawal out and deposit back in.

Go to the Fixed Assets tab. Change printer to a pdf printer (so you don't have a bunch of paper printed) . Highlight an asset. Click on Print Page. A menu pops up. Select the various options including Asset History. Click Print, then OK. See what shows up. That's what I'm referring to. ATX used to have an Asset History report. Then it stopped for a few years. I recently noticed this was available. But to get it, you have to highlight each asset. With a lot of assets, that takes some time. I can do it and print each asset to my pdfFactoryPro and it saves each asset into one file. I can then convert to Acrobat. I then have this all in one file. It's nice but I wish I could get it all in one Print option in the Print function.

Margaret, the Pages & Worksheets just gives you a list of the tabs at bottom of 4562. The Detail Report doesn't give you the history.

Is there an easy way to print the asset info including the asset history for all the assets at the same time? I don't see this option in the print menu. The only way I see how to do it is to go to Fixed Assets, highlight each asset, print page (popup menu appears), then print.

Pacun, I took the original question as an individual receiving a K-1 from a 1041 so I didn't get the connection of your first comment.

I agree with Gail of VA. Not sure what Pacun was getting at.

Did wife inherit 100% of the IRA? If so, I think I would just report it on her return and with a statement explaining the 1099-R being incorrect. Also, make sure she has the account changed to her name and ssn.

Also, check me on this. I read it as applying only to the 2% S shareholder, and not to his employees. If S Corp has paid some of their insurance, it still needs to go on their W2 for income tax purposes and FICA tax.

Skimmed thru it. Sounds like relief for 2014 and first half of 2015. But I'll have to read thru it more thoroughly.

Treat them as one. The original W2 for the numbers that have NOT been corrected and the corrected W2 for the numbers that were corrected.