kcjenkins

My old eyes find it a bit harder to read, but if it is a cost-saving thing, then I will be nice about it. And I will make another donation, as well. I imagine the bandwidth will stay high throughout tax season.

It would help is you gave us some idea of the amounts involved. If the amount is not that large, he'd be wise to just accept that W-2, since after all, he should have had it deducted. So he has not been cheated, he just got a larger check than he should have gotten. While the code does say that the employer is responsible to pay in the taxes, whether he withheld them or not, it also requires him to 'gross-up' the wages to include the amounts paid in for the employee that were not withheld. So he would be owing tax on more. And it's not worth losing a job over, in most cases.

You have to be in the Return Manager screen, then follow Jack's instructions. You can edit the Companies list the same way, from the Options menu.

I agree with Tom. You should not ignore it, because the IRS will be matching it to the return. But you should zero it back out as it is not taxable income, but a refund of a portion of the purchase price, reducing basis.

Donny, if the client bought the land and it already had mature or nearly mature trees, some part of the cost should be assigned to the trees, and that would be his basis. If he bought land with just saplings, he would not have any basis in the trees, so all the sale proceeds would be gain, unless he had some expenses to harvest them. If he bought clear land, and later planted the saplings, his basis would be the prep costs and cost of the saplings, which should have been capitalized at the time. If he bought the land with the trees, he should get an appraisal of the tree value at that time. The County Extension Agent can probably help him there.

Taking the last question first, if you do an efile of the 1099s, you have to have checked the box that you have a signed 6847, Dennis. If you use the check return function, it will always direct you to check that box. Of course, if you mail them you do not need it Tom, once you have created any tax return for a business, such as setting up a tax return, or setting up the 1099-Misc, setting up another one for 1099-int, for example, is just a matter of clicking on 'New', then selecting the 1099-INT and then when you open it, go to Tools, Companies, and select that payer. The info page will populate, and you are good to go. You can set up a return for W-2s the same way. Just click on New, select a 940, then a W2/W2C form. Open it, click on Tools, etc...... You can add the 4 941s all at once, or as you need them.

It would only go on the Sch F if the client is running a tree farm. If he merely makes a one time or an occasional timber sale, it goes on the D.

Yeah, right! :lol:

Just the one you corrected, Tom.

Click on 'New" and select the "1099-Misc" form, and, if you want to efile them, a 6847. Then open it. Input the Payers info into the Payers Info page, which should be the first one to open. If you already have set up a tax return for the client, the info should be in your Companies database, so you can pull it into the Payers Info by clicking on 'Tools', 'Companies'. Then click on the 'Input' tab at the bottom, and you are ready to start inputing the workers info into the 1099s. If you want to efile them, you just click on the E-File icon when you have them all entered, and the program will take it from there.

I believe you need to download the Pub on Partnerships, and do some serious reading, because this is one of the most convoluted and complex areas of the entire tax code. And the rules are very detailed and have to be followed, and at the amounts you are dealing with, you can not make mistakes. Over the years, partnerships came up with all sorts of tax maneuvers, and then the code was changed to defeat those, and then more were thought up, and more code changes to defeat them, etc, until this area of the code is horrendous. But we are stuck with it. You need to start with the Pub, then narrow in on the areas that are specific to your client, and go to the actual code and/or to research sources like Kleinrock, RIA, BNA, etc and be sure you understand the options, before you advise the client. I've been doing this for many years, but I would not advise this client without doing hours of research to be sure that my advice was totally up to date. Between the code changes and the many court cases, this is a minefield for the lawyers.

To qualify as alimony, it has to state in the decree that his obligation to pay it stops with her death, which is something you have to read the decree to determine. Consider all the seven tests that must be met to be alimony.

Atticus, it's not SuperMom's signature that is missing, it is the client's signature. She forgot to get her to sign it before sealing the envelope, or at least that is what she thinks happened. There's always a slight chance that it was signed, I guess.

I got an email from ATX yesterday which said that the online products would be updated soon. Heres what I got: To access your online products, please go to www.myatx.com and log in. Look on the right-hand side of the home page for links to all your online tax research products, including Federal Tax Expert, Federal Tax Bulletins, Kleinrock 1040 and much more. Any online products not currently updated for 2007 will be updated soon. If you have not already visited myatx.com this tax season, please note that the log-in procedure has changed. If you need assistance, please click the Need Help?link on the log-in page. If you used the ATX support site last year, look on the Help page for the link that says “I’m an ATX customer. How to I upgrade to the new authentication system?”If you are a new ATX customer, please refer to the instructions that were included with your tax software. Below is the schedule for shipment of printed products. Book Scheduled Ship Date CCH®1040 Express Answers Shipped on 01/18/08 Business Quick Answers 01/28/08 CCH® U.S. Master Tax Guide: Kleinrock Edition 02/11/08 Below is the status of products on that are available on CD: Federal Tax Expert - has been shipped. All States Tax Expert - ship date will be announced soon. If you have renewed or purchased an ATX package recently, your printed and CD products may be in transit. Once a product is shipped, it may take 5-7 days for you to receive it.

IRS will return it to her for signature. Of course, that will take a few extra weeks, which she may blame you for, but it's just something you have no control over now. You might want to send her a letter explaining what will happen, and offering her a discount for next year's prep, as an apology. Does not cost you anything if you lose her over this, but does offer her an incentive to forgive you.

I remember when we did everything by hand, with the help of a 10-Key adding machine, of course. And we could not afford a copy machine, which at that time were huge and expensive. We used Carbon paper, and lots of white out. Then went to carbon sets, with differnt color pages. I had white-out in five differnt colors. And we would want to cry sometimes, when we had finished a large many-page return, only to have the client return to pick it up and say "Oh, by the way, I forgot to mention that I sold some land last year. Is that going to make a difference?" Not like now, when you make one change and that 'flows' to all the related forms. You often had to just start over from the beginning, because a change to add a Sch D also meant that AGI changed, which changed the Sch A, which might change other credits, etc. I remember using the overlays when we first started doing them on computer. Schedules printed ok, but the signature forms had to be done with overlays.

OK, that was fun. Now, to actually answer your question, Colleen, you click on My Controls at the top of the page when you first log in. There look at the left hand side of the page, and find Options, Board Settings. There you can choose how you want to see the board. Also, under Display Modes, you have three choices: Outline - shows you one post with a list of the remaining posts at the below it, in tree format. Standard - this display mode shows the topic in the standard layout of one post above another, in the order selected by the administrator. Linear+ - is similar to standard with the added benefit of having the first post of the topic always shown at the top, no matter what page of the topic you are on. Most of us choose Standard, I think, but some like Outline better, etc. And remember, when you open a thread that you have already been reading, if you click not on the name of the thread, but on the little orange box just before the name, it takes you down to the first unread [by you] post in the thread. So while you can not get 'last reply listed first', you really can get something better, the unread posts only, in the order they were made.

On the top of the Options page there is a box to check for 'print this worksheet'. Make sure that that is not checked in your master form. Same thing in the billing form. When you put in the billing amount, make sure that box is unchecked, and you will not need to remove it in the printing process.

Sounds like a bug in that form, which is something that does occasionally occur in early days. Send an email to the 'Suggestion Box', and explain the problem and what it should be doing, and you will probably get a response within a day. They have always been prompt in fixing that sort of thing.

Yes, it's easy to do. Go to the AR page, sort it the way you want it sorted, mark all the ones you want in the list, or just use 'mark all' if you want them all, then go to 'Reports', and select 'Export marked list". That will create an excel file which you can then open with Excel, and you are set.

No, it can not be §179d, but depending on the facts and circumstances, it might be expensed as a repair. The dollar amount is not the deciding factor, it's whether it is a repair or a full replacement. Without knowing the details, you have no way of knowing whether it was wrong or correct.

Especially since that would have given callers a 50/50 chance of actually getting someone who knew the answer !!!

Right, the first thing to do is to determine if she should have not claimed herself, and while you are at that, also make sure she does not have some MORE W-2s and/or interest statements, unemployment, etc. Once you are sure that she SHOULD claim herself, you would file a paper return showing all income. Ignore the original return, because it was never accepted into the system, so this will be her first filing. If, however, she was properly claimed by someone else, [her parents, perhaps] then you would be able to efile the return, once you unmark the box for her claiming herself. Include all income, of course, and efile just as if it were the first time.

Darn, I want one of those. All I got was a little Asian woman who wants me to lie down so she can walk on my back, and I don't have time to lie down! Foot rubs I could get while still working. Do you want to trade? Nah, I doubt if your new lady would like that......

Don is correct, I was wrong. No support test for EIC, so he's good to go.