Randall

And remember if there are capital losses, you can carry them forward each year. Give a them the worksheet and let them know to retain them for future years.

I probably still have them somewhere. I won't do past returns unless they are for the years I have on my current computer. When I get a new computer, I have to put the most recent year ATX program on it so I can use the rollover function. But even that's a hassle. I keep my previous computer in my office so the most recent years are available to me.

I cut back years ago. I still send about 30 for people who fill them out and request them. All others just get the Eng Letter and the ATX questionnaire.

My returns don't print the zeroes. But I'm not sure how I got this. I remember a few years ago setting something but I can't remember now.

I put in a call, they assigned a case number. I got the response which I already knew, that the form wasn't available for efiling. I responded for them to get it on their 'to do' list. Hopefully they will get it done at least for next year. Ha.

Yes, other tax programs have the Ky 741 available for efiling but not ATX.

ATX does not have the availability to efile the Ky 741 (equivalent to Fed 1041). Ky accepts this form thru efiling. Other tax software programs can efile the 741. I've been trying to get ATX to make this available. Does anyone else have this problem with their state equivalent of the Fed 1041 or any other forms. It's a hassle to print out and have the client mail the state form (along with a printed copy of the Fed form).

None of this should be that complicated. But on and on it goes.

I'm counting. Ha.

I have one of these. Divorce happened years ago and child is grown. I have not accepted anymore of these since. Only one or the other.

That's funny. I remember those dorms with the pay phone in the middle of the floor.

People wondered about ATX a few years back. Owned by Walter Kluwers now and they have TaxWise too as a smaller package. So I guess as long as they have the profitable business they'll keep it.

Insurance companies should provide an annual statement showing the activity. People should save these annual statements. It's doubtful your client has that saved. You'll probably have to estimate his cost basis.

The only problem with this being an election year is that the election is in November and if one party wins all, they won't be able to do anything until January, 2025, after the due date of Jan 1, 2025.

Anyone dealing with this yet? Just opening it up for discussion. Seems outlandish but then what else is new?

I don't mess with this stuff. Too scared. It may work for some and some may be more knowledgeable about this. But I keep away from it. I'll just have to close program when I get the message and reopen. I don't like it but oh well.

It's running now. I was able to create the OH efile.

I just clicked on the arrow next to 'some forms' and the Sch Credits shows up as not yet approved.

I just had my first OH return. I can't create the OH efile either. My message doesn't specify which form hasn't been approved yet, it just says some forms. I do have the Sch Credits in the return. I looked at ATX release forms list and this form is not listed as not yet approved. So I don't know what the hold up is.

I thought if they got the full credit ($2000) as nonrefundable, just a deduction of their tax, this pending bill would not affect it. Only if they got a refundable credit.

Most of my returns are KY but I'm near the border and have a few OH clients. I havn't tried an OH return yet.

I'm in a similar situation as OP. Land line in my office, doubles for fax. I don't get many faxes anymore, just come ons for vacations and such. A few of my clients have my mobile number but I usually don't like to give that out to clients to avoid calls at any hour. I'm trying to hang on a few more years, cutting back, hoping I don't have to get two mobile lines and all that.

Just to confirm, it will not affect those who get the non-refundable credit, max $2000. Is this correct? I have a few early returns getting the full $2000 as non-refundable credit. My understanding is that this pending bill would affect the refundable credit.

Yes, these are absurd. And organizing as one entity and electing to be taxed as another entity. Who thinks up this stuff? I'm not an attorney but the so called protection sounds like a load. Small business people don't conduct themselves as said entity. I had one client years ago (sole proprietor), built a garage for his customer. Never got paid. He sued the customer for payment, the customer sued him back, my client lost, never received payment, had to pay him $25k. Then an attorney suggested he work as an LLC. Ha.

I tell clients the legal protection is between them and their attorney. I can't comment on that. But for tax purposes, I tell them 1065. Even if it comes out the same in the end. I have some clients with multiple rental properties, two owners (not husband and wife). They use single member LLCs to own each property and the single member is a two member LLC with both partners. SMLLCs are disregarded and the two member LLC files the 1065. Only one 1065.