Randall

I like to combine my Fed & State letter. Last year, when setting up the return for efile, the Fed portion of the letter used the efile wording but the state (Ky) wording remained as if it was a paper return. Once I actually created the efile, the state portion of the wording in the letter changed to the efile wording. This year, even after creating the efile, the state wording remains as if it were a paper return. Anyone else see this going on? I do see (and saw on this forum) that ATX is no longer having the piggyback system. Any quick way around the letter problem other than editing the wording on every return?

I'm not sure if I had the same problem. I installed QB2011 on my new computer. I tried to copy the older QB versions to the new computer. Didn't work. I had to use the cd and reinstall. QB2010 seemed to go ok. But the earlier versions wouldn't install. Kept getting a message that a QB program was currently running. QB tech person told me to go to task manager/processes and end task for QB (such and such) with the 32 at the end of the file name. That worked. As for restoring old QB files, I always put my client company files in my own filing system and not the QB default file (I could never find them that way). I have labeled them as to which QB version they are from. I do this because many clients don't upgrade their QB for years. Not sure if this helps but just in case.

Yes, your fees are too low. I thought my fees were low and they are. I'm a CPA too. I've been quoting higher fees for new clients and raising my fees a little each year for existing clients. I've never had the guts to double the fees though.

I do online updates too. But I've always updated with the new CD when it arrives, then immediately do an online update too. In the past ATX has said the CD will not overwrite any online updates that came later than the CD update. I sent this into ATX to see what they say. The funny thing was that the Rollover Manager listed my returns under the 'Rolled Over' category. They just weren't listed in the Return Manager. Also, the backup files were there under the ATX Program Backup file which was done automatically. When I used the Restore function, the file that automatically displayed showed nothing but when I browsed, I could go to the ATX Backup file on my HD and select it and it filled in the Restore window and I was able to restore the returns I had completed. Whew! I will probably not update with the CD anymore because I will have a lot more work completed by that time and can't take a chance.

Instead of unchecking, I usually do the opposite, click on custom, then check the forms I want. Not sure which way is better.

I was able to do a restore from the backup file. The returns are back in ATX. A little scary though.

Just received the latest ATX CD, 12.30.2010. I installed and when I opened the program, no returns in the return manager. I haven't done too much so far, just a few W2/941 returns. Anyone else have this? I wonder if I did something different.

Is this something specific to ATX? Or are certain states just opting out of the IRS piggyback system?

Finally. A voice of reason.

I'm going to start efiling business returns, 1120S, 1065. Although I think I can only do Fed. I have been postponing this because KY isn't ready and the piggyback system isn't available. But I think I'll go ahead and efile the Fed and paper the KY. Also, I've got to get myself more efficient with time. Stop wasting a lot of time going thru emails, snail mail, and other attention distracting things. And I plan to sleep in a little later here and there. I think that will help me be more alert and more productive overall and get more done.

You should check a little further. You can have a 'in kind transfer'. That is, you can own Stock A and Mutual Fund B and have them transferred from one brokerage account to a second brokerage account without selling the investment. You still own Stock A and Mutual Fund B, it's just held in a different brokerage account. If the client wanted to changed investments from a mutual fund to a stock, a sale of one and a purchase of the other would be needed. The cash from the proceeds could have then been transferred to the 2nd account and the client would not have received any money. With a sale, a 1099B would be generated and proceeds would have to be reported on the tax return (minus basis giving a gain or loss). If there is no gain, AGI wouldn't be affected, but if this wasn't reported, the IRS would be using the gross proceeds from the 1099B and showing AGI higher.

It was custom built by my local computer tech consultant I use, not a name brand. It has 16g RAM and a solid state HD (only 150g) with 2 regular HDs (1 terabyte each) set up on the RAID system. I use the solid state HD for the OS an other apps and use the regular HDs for data, etc. Although ATX told me I couldn't separate their program from the client data so ATX is on the regular HD.

Why open 2 years of the ATX program? I use my pdf files for the previous year. I have prior year returns, worksheets, client docs available in pdf and can reference the info while working in the current ATX program. Just got a new system, W7 and 3 monitors (23in). The 3rd is set up for client viewing and mirrors my primary monitor. Recently used the ATX planning function to go over some things with clients. They could view the 3rd monitor while I went thru various scenarios. I could show the ATX screen on half the monitor while showing their return in pdf on the other half of the monitor. For my two monitors, I can use ATX on half of one monitor while using the other half and two halfs of my 2nd monitor and basically have 3 documents (client doc or a research doc) viewable for myself while working in ATX.

If you're talking about 2010, you can get him set up on payroll, pay a bonus for 2010, issue W-2, etc.

He knows he has 18 properties. He knows the location of these properties. He knows the distances. He should know approximately how many trips he's made. He can use repair and oil change invoices to see his odometer readings at specific dates. I think he has enough information to make a reasonable estimate of his business usage. Yes, by all means, from now on, get him on a log.

He has a mileage log. It's in his head. You need to convert it from his head to a piece of paper.

(Besides, even a specialist would never use a general tax prep program like ATX for this. It requires a high-level fixed asset manager.) Calling tech support is two or three times worse, because they will barge ahead with further assumptions not related to what you are asking! Thanks. I agree. There's no way I was going to call tech support. I know ATX is limited and I will have to appoach it as you suggest.

If rental property given up in a like kind exchange has suspended PALs, my understanding when a gain is deferred, the suspended PALs are not released and must be carried forward with the new replacement property. How do I input this in ATX? If I mark the old property as final disposition, the suspended PALs are released in Form 8582. Do I keep this property open in ATX for future years, showing a Sch E property with no income and expense in future years, just so the property is not marked final disposition until the new replacement property is disposed of in the future. If so, how do I relate these two properties in ATX or do I just have to manually note this for the future? Is there a way in ATX to adjust the suspended PAL from the old property to the new property so that it will be assigned to the new property in the future?

For a like kind exchange, how would you input the following in ATX? Property given up is rental real estate, same as replacement property received. The property given up is included in Sch E ATX records and consists of several asset entries (land, original cost of building and 2 bldg improvement entries). In the asset records, if I use the like kind exchange option, these are carried to Form 8824 automatically but listed as four items. Do I allocate the exchange value for the four different items? But then how do I allocate the amount for the new replacement property with the adjusted basis (for the deferred gain)? I would like to show the old assets as sold at NPV with no gain and no loss. Then on Form 8824, manually input one item for the whole exchange value, leaving me one asset with a reduced adjusted basis. This will list the old assets on Form 4797 with no gain or loss. How should I show this thru the ATX?

I think the requirement is effective for payments made in 2012, reporting 1099s in Jan 2013. But I don't have an official citation. This was from a PPC source.

Yes, but it does point out some of the flaws. I do expect some changes but I don't know to what extent.

Yes and then they cut off your electric.

I thought if everything reverts back in 2011, the step up basis also returns.

Yes and get copies of statements showing transfers (both sides), amount, dates so you'll have documentation if IRS questions it later.

When you give it back to the new client for the new year, are you telling the client NOT to make any entries in the new year until you give your changed old year back to them? Or is there a feature like QB's accountants copy that I don't know about. Also, what if the client has a newer version than your 2002 version? Are you still able to exchange files?