mcb39

I guess that all of the above is the reason why I purchase the All States handbook every three years. Wisconsin has enough reporting peculiarities of its own to merit assuming that other states do as well. And so our season begins!!!

I have clients who have as many as seven states and don't have a problem. You always have to break the portion for the state apart from the Federal total. You do the separations on the bottom of the W2 information entry sheet. Then you have to file one Federal return and a resident or non-resident return for each state. It is hard to generalize the answer for you because every state probably treats these things differently; and then there are reciprocity states. You seem to be making this harder than it is. The software will do the work if you enter it correctly.

I got the notice from the IRS. I wondered at the time what businesses would be allowed to use this ceiling in 2015 since the notice states that it isn't effective until tax year 2016.

What is an eligible business for years prior to 2016?

Check into Quicken. I use it for all of my small business clients; as well as myself. (also by Intuit; much as I hate to admit it.)

I also use the word "Continuing"

Received my certificate of completion for 2016 AFSP. May not seem like much to some; but this is HUGE for me. Moving forward.

If there is training and education involved in any business (including my own); I create a category under Other Expenses called Education.

Just had to write a letter of explanation to IRS because my 87 year old client received a 1099 from Wells Fargo. This was as a result of class action lawsuit against WF for excessive charges of mortgage interest. They really laid this elderly lady away. Had to straighten out that mess in 2013 and get the money back for her. It was her own money. Now the IRS wants her to pay tax on all of it. We had already claimed the amount she had claimed on Sch A in prior years. Somebody is trying to drive me nuts.

Renewed my PTIN and have my credits for AFSP. In view of all of our health issues this year; that is amazing.

Zero success; especially from investment companies who issue 1099 R.

Just returned from a 3 day tax seminars. Teachers addressed this issue and flatly stated that if it is in box 3, it goes on line 21; if it is in box 7, it goes on C or F.

You can have it on three computers under one license.

I believe that there is some guidance as to whether it is reported in box 3 (other income) or box 7 (non-employee compensation). I have done it both ways depending on the circumstances.

Not to mention our medications, our pets and our inner hungry times!

IMO, State Sales Tax is one of the most confusing and complex issues that we deal with; at least in WI. I, for one, am glad that ATX is charging it up front now because otherwise I have to pay it on my WI State Tax Return.; along with all my ebay and other purchases that do not charge sales tax. One more end of year job that I don't need.

Another "Thank You" to jmdaviscpa. I just shared that info with my tech support and he was happy to get it. He had actually called me because of the issue, just as I was reading that board. I was able to tell him which file to remove and he can use that for all the other clients who do not want Win 10. This board is awesome.

Am waiting for the link to be fixed. I have been researching this very question for over a week. However, in my case, the entire house was sold; so Mom is one of the four who get a share. Yes, it is definitely a gift and basis is whatever Mom's basis was when she acquired the property. There are possibly some obscure calculations to be done. Also, if sold at a loss; no capital loss can be taken.

This is one of the reasons that I have a jump drive on board whenever I am working on a tax return. I export the return to the jump drive any time I make any major changes and, of course, when it is finished. This also allows you to import any return into the program on another computer for whatever reason.

WI has all of those too; plus they squeeze in Road Construction season. Right now, though, we are having beautiful early Fall weather. However, the freeze warnings are right around the corner.

Actually, I never depend on just one resource. And, Catherine, you are correct. The best source of information by far is this board. I also like having separate references for 1040 returns and businesses. This year, WI brought back their WI Tax Book after a year without it. This an amazing source of information.

I hate to be a naysayer here, but I have always used Quickfinder except for two years; once several years ago and last year. I hated it both times. Am returning to Quickfinder this year. Perhaps it is all in what you are used to., but I had great difficulty finding answers in the Taxbook quickly. I ended up hardly using it. On the other hand, Quickfinder is in my hand and on my desk more often than not. I agree with Catherine as to replacing the States book about once every three years.

That's odd, because she has not had to sign or commit to anything. I have no doubt they will put the pressure on when she does well. When she went to class last week, there were several students there that were already or would be working for other accountants. There were also students who wanted the knowledge to keep abreast of things for their own businesses.

Thanks Rita. I am sure she will do just fine. She is somewhat familiar with ATX, but is very confident that she needs to know more about tax prep in general in order to be more help to me. She will also attend the seminars with me. The biggest factor here is her sincere desire to learn. Last year she did all the busy stuff, but she WANTS to know how to prepare tax returns with software and feel sure of herself when she is doing it. We are very much of like minds. In fact, she is my first cousin and in May, she had breast cancer surgery exactly one month to the day before I had mine. How ironic is that?

She told them up front that she was not going to be working for them, but wanted to have more tax preparation knowledge. As I said, she is paying to take the course.