TAXMAN

I think if open for business and had no sale this would be amortized but could it it be written off under the start up rules as long as they were open for business?

Catherine That's what I thought even though the 1098T has no numbers on it. TP still paid and still went to school. Now if I may ask if school cost 2600 and we got non repayable grant money of 2500 and scholarship money paid to school of 1500 and school refunds to tp 1400 can I choose to pay the tax on the scholarship money on daughters return and take the ed credit on mom and dad? I think somewhere I read this is ok.

OK I am not sure. In 2015 TP received 1098T with the box checked includes amount for the next spring. TP had more than amount needed for ed last year without using the amount billed for the spring amount. In 2016 TP finished and paid a payment for what was still owed. 2016 Form 1098T has absolutely no #'S on it at all. So question becomes what do you do with a payment in Jan 2016 that paid for the spring quarter since the 1098T has no numbers on it?

Is there a way to move the little page printer icon away from the print return icon in the atx program? For some reason I keep hitting that page one instead. Just asking.

I received an email from State of West VA stating that in this case TP would NOT owe WV tax. TP brought me a losses statement today showing losses at least 2 times what they won. Maybe this why they don't owe the tax?

OK, I understand about VA's law. Its WV that I am concerned about. I read on page 16 of their book that west Virginia source income of a non resident does not include gambling winnings except certain lotteries. Based on this I think maybe TP does not owe tax on the slot machine winnings that they have. Would this be a safe assumption?

OK, I understand about VA's law. Its WV that I am concerned about. I read on page 16 of their book that west Virginia source income of a non resident does not include gambling winnings except certain lotteries. Based on this I think maybe TP does not owe tax on the slot machine winnings that they have. Would this be a safe assumption?

TP a resident of VA went to WV to play the casino's. Hit one for 6k. West VA withheld no state tax per the W-2G. I figure TP owes WV tax on this money as a nonresident. Am I correct?

In my case it appears students funds came from part time work, loans and what ever else tp could find. Moms and dads income would not indicate any financial help. In fact when asked mom and dad said they just could not afford to help. Even so, I believe TP cannot be claimed and is entitled to the refundable portion of the AOC assuming all other facts are met.

Does SS have copies of the W-2"s? This may be another place to look.

My mind is shot. TP has a child that turned 24 during 2016. Still going to college. Child has not finished 4th year yet. However child working part time jobs made 9K in income. Does this 9k income and being 24 take the dependent away from mom and dad? Appreciate imput. All I read under qualifying relative rules say's dependent is gone.

I just noticed that ATX put an error on checking and Efile if you skip the sales tax question. A lot of my clients don't remember if they did or did not pay the tax. How do we respond when even the client doesn't know?

What I noticed was the software. The checking and the efile for that line 61 box was there one day, the next day it was gone and the next day it was back. I wonder what the software providers know that we don't?

To my Virginia friends. I am seeing on state county,school and govt w-2 where the TP is having to contribute to the VRS plan. This amount is not included in the Box 1 of the W-2 but is included in the box 3 and 5 amount. I also see in box 12 with an e code for a very small amount. Is the amount that the TP is putting into the vrs account eligible for the credit. I don't think so but open for other responces. I know that the 414(H)(2) don't qualify. The amount except for the code E # is not on the w-2 anywhere. Found on pay stub when there was a wide variance between Box 1 and box 5.

I roll as returns come in. That way I know how old a return may be in the system. Gives me a heads up on order to work returns if all info is there.

I got back 5 this pm. Was getting worried.

To my friends that know social security laws. Question is if TP receives ss$ for himself (age 63) and the kids being under 18, in school, and dependent on TP's return and TP earns more than the allowance. I realize TP may have to pay back SS. Does TP have to also pay back what the kids got?

Which questions do you think we could set the masters at?

Got one of those last week. Deleted it asap

Am I the only one not seeing this in my ptin account?

I have read and reread them. I tend to agree you don't have to be a farmer in prior years. What I was concerned with is that TP was dependent on one of the base years with no income.

To my more experienced farmer guru's. Question concerns base years. TP is a farmer in 2015,2014,2013. In 2012 tp was listed as a dependent on mom and dads return and had no income. Question becomes can TP use Schedule J for 2015 as tp has not filed this return. Tp's income for 2013-2015 is healthy from farming, does not work anywhere else. TP was buying baby calves @ about $100-200 raising them to be stock cows and selling them for $1200 to 1500. Thanks to who all may be able to answer. A pleminary view at 2016 looks like tp may have net of $40k.

Does anyone know what the new security issues will be in ATX 2016 returns? Another site says ATX put it in a blog but I can't find it.

I noticed in the instructions for form 1040 on page 1 paragraph 1 it states:"An estate(or other person) required to file an estate return after July 31, 2015 must provide a statement that includes the estate tax value of property reported on the return to both the IRS and any beneficiary who receives property from the estate." Does this apply to an estate filing only a 1041 passing out stock? What kind of statement is required and what must be in there. Would a copy of the inventory filed in court house suffice? The values for most of what I have seen is provided by the broker when transferring the assets to new party. What if no filing is required(1041) as all assets may have had joint owners, POD, TOD etc. Am I overstating of overly concerned?

Does this affect renewal of PTIN #'s?