TAG

2023 Form 1099-R : Box 1= $120,473 / Box 2a Taxable= blank / Box 2b= Taxable amount not determined Box 7 distribution code= J He thinks he started doing Roth IRAs (Vanguard) about 2013. I've searched for any worksheets to determine if any of this is taxable or not, but have not found any help. Please help me. Terry

Does anyone know what Drake is doing with their customer support? I tried to call them yesterday (10/06/2022) and their pnones lines were not answering. I called today and got a message.

Has anyone fouind the "secret" of getting a client their past year's refunds being "lost", misplaced, in the IRS' system; even though the tax returns qwere E-filed and accepted by the IRS. I've got 2 clients waiting for refunds from 2020.

Wht are the reporting requirements for the PPP forgiveness for a partnership ie, form 1065?

Cathrine, You need to contactyourUScongressman. Terry

I have 3 clients that still have not received their 2019 Federal tax return refunds. the IRS "where's my refund" site says "We have received your tax return and it is being processed." Does anyone have a solution for this problem? Thank you, Terry

I got into a slightly heated discussionwith my new partner's son, who is a preparer. A remodeling Sch C (not a current client) called and asked if we would E file his self prepared 2019 tax return. I asked and he stated that he self prepared the return and could not E-F the return in Jan (I suspected that IRS had shut down E-F then) and the reason he wanted it E-F was because he was going after Small Bus "free money". The son said we can't do it because we had to prepare the return. I asked him and he said it was part of the ERO requirements. I think he was suspecting fraud and I told him to prepare an engagement letter stating we were only E filing a self prepared return and have the persp client sign it. I know I've gotten too old. But I'm curious, who's correct?

You must "sign in" to see the donate button. Thankyou for the reminder and a BIG THANKYOU to Eric!!

jklcpa, THANK YOU !! Terry

Thank you so very much. Terry

I tried searching my username, "TAG" but that doesn't seem to work.

I got lucky and found the oldest post; it was dated 4/10-20 but when I went to find it again it wasn't there.????

How do I find 2 topics I posted in Feb, Mar,or Apr 2020 in the "General chitchat"? I tried my acc't name "TAG" and I scrolled through all the postings, but could not fine them. I've gotten old and my eyesight is no longer very good. Terry

The taxpayer moved back into a house which had previously been a rental. It had started out as her personal residence, then she got married and moved into her husband's house and rented out her old residence for approx. 2 years; now they moved back into her house. They are not doing this to try to save on taxes when the sell the house; they plan on living there forever. Are their any tax implications I need to address because of this? Thank you, Terry

Catherine, THANK YOU. what I thought but my partner had me confused!! Terry

Schedule C YE 12/31/18: Business was sold 1/31/18. It was a Sch C and operated for the month of Jan. Should the ending inventory (which was sold 1/31/18) be listed on the Sch C or should the Sch C ending inventory be listed as -0-? My brain is frazzled! And thank you.

And yes, this is a voluntary "come clean".

Thank you very much , Medlin. Excellent advice.

We picked up a new client, an self-employed electrician, who got behind with his tax return filings. Should these past tax returns be sent to the IRS in one package or what would be the best strategy? Thanks. Terry

Because of health reasons, I'm thinking of selling my accounting & tax practice. How are accounting & tax practices typically sold?

What 1099 / W-2 software program do you recommend?

Thank you Lynn.

I have a very disorganized, mentally slow, and lazy client who doesn't know how much he paid in for his 2016 Federal estimate tax payments. What's the easiest way to get this info from the IRS?

Can Ohio's 1040 be EF'd? It's Sunday, Drake's not open. I called them last week and got different answers. When printing the Ohio return the print out is just numbers, not the form look alike. Thanks, Terry

Elrod, I've been a member on this site going back to the original site and I remember when you first started doing taxes. I've enjoyed you humor & your wit, I am truly saddened on your leaving. I sincerely wish you the best. May God bless you. Terry