mcb39

Please check your PMs. NY is still driving me nuts.

These are my thoughts exactly. I have a lot of those timber sales and unless the seller gets an estimate of the value prior to the cutting; there is no basis. They never turn out that badly because of the CG rules even though basis is zero. You are correct in that they are selling the gravy, but still own the land.

www.timbertax.org

$7000 minus $1300 = $6900 for taxable amount. Just had one of these yesterday.

I have had one Identity Theft so far this year; one of the same ones from last year who had a PIN to file with. We talked to Identity Theft yesterday and, yes, he was compromised, but they did not issue a refund to the culprit. However, they won't issue one to my client either until he paper files. He finally got his refund in Nov last year. BUT, the gentleman that I spoke to informed me that the PIN program has been taken down because it is broken and is not working. Imagine that!!!!!

I had to manually play around with both MA and MD to get rid of the errors. NY is still my bane, but will see where we go today.

Still haven't found it. It was there all right in the 2014 return. Do I have a form that is not updated or what? Am getting resigned to paper filing NY and efiling the other seven.

Still cannot find it. This is the second day on this return and have cleared all the red marks for eight states except this one.

I sure hope so. Thanks a ton.

Well, I have one of those too along with the eight states for my WI resident. NY is driving me bananas.

Last year the code 10 entered the exception box for the NY Ptin. This year I cannot find a place to enter it. The program does not allow me to override the box and enter the number. I am sure I am missing some input sheet or something. This is preventing the efile of a return with 8 states. Help Please.

Of course, you all know that I did bill my recalcitrant client with the attitude. Did I get paid? No. Do I care? No. She is never welcome here again.

Lucky You!!!!!!

Lynn is correct. Also, the GP is SE income as is the percentage of the profit for each active partner. Goes to Schedule E, page 2. Since the Partnership does not pay any taxes; everything has to flow through to the partners in some fashion. (I am not knowledgeable about S Corps, but I have plenty of experience with Partnerships.)

I guess that means NO! I was trying to read the Bad Debt rules, but still told them NO! They said "Forget it, we don't want to trigger an audit"!

I had a client this year who began a small business of Zumba classes. She wanted to know where her Women in Business credit was.

And this reminds me of the attorneys who give out tax advice and have no idea what they are talking about. (Not all attorneys). Just had a client tell me that her daughter stole her husband's credit card many years ago and ran up a huge amount of debt. Daughter refused to pay so dad has been paying $500 a month for years. (Daughter had filed bankruptcy). They just paid off the debt in Dec. Their attorney told them that they should be able to take this on their tax return as a "hardship deduction". AGI of this couple is $163 K. Can anyone lead me in a different direction with a cite that would allow this deduction; which I have denied.

I found out how much longer I can be Nice, yesterday. Had a woman in tears (literally) because she insists that because she got married on Dec 12, she HAS to file single. Husband just sat there shaking his head. Neither one of them were prepared. He did not have an accounting of the estimates that he paid and neither one of them had their papers from the Marketplace. She said the lady from the Marketplace told her that it didn't matter how she filed, but she would end up with a huge penalty if she didn't file single. I see an extension on the horizon. After they left, I waited for one more pickup and then took a nap. Never came back to my computer until this AM. Right now, I would like to tip the desk over and let the papers fall where they may.

I still may get this chance because I hear that someone else is stirring the troubled waters. However, I am finished with them. Am glad that I cleaned the slate and I never have to deal with this girl or her mess again.

I love this

So far my only identity theft victim this year was also a client who got compromised last year and filed with a pin this year. I asked the auditor the other day about this and his thinking is that the system is broken because he is hearing a lot of this. The pin solution is not working. (Although, it has worked for some of my clients). Also, want to thank all of you for your remarks, solutions and advice regarding my anger management issue. I feel so much better now and am happy with the way it was resolved. All that remains is a dull ache; which will fade.

No hugging went on. When I handed her the folder, I said "Here is a check for your Mother ($75 full refund) and here is a bill for you. She grabbed it, turned around and left. Never got time to introduce her to the back yard.

It might be interesting as I did the work last year for final return of deceased father. Since that was not her return, I don't have to give her any of that information. Same situation last year with wrong codes on 1099's. Poor little rich girl who inherited all of daddy's retirement, pensions, life ins, etc; definitely needs an attitude adjustment. I wouldn't take her back under any circumstances. Jack is correct. I have nothing to say to them.

I wouldn't believe a thing that Wells Fargo says without positive verification.