NECPA in NEBRASKA

He is her dad. She doesn't really want to put his name on the lease, so it's up to her what to do. I would have had a heart attack if I got a check for over 100 grand that I didn't know was coming, but I would be really happy. I will gladly pay the taxes.

That;s what I thought. The 1099 will come to her. I can only see that she could nominee income if she collected it and it is actually owed to someone else.

One of my clients got lucky today and received a huge check from a well that was drilled on a lease that she won many years ago. She wants to split the income with him. I may be making this too difficult, but I'm not sure if just issuing a 1099 as she wants to do will work. He doesn't actually own any of the lease, so does this make it a gift? Maybe sheI should ask her attorney about this too? She would split the income after the taxes have been deducted. I will keep researching, but I thought I would ask if anyone knows something quickly. Why does this stuff always happen when I'm swamped? Thanks!

I just had to talk my step-daughter out of quitting her job and using her 401K. She wasn't even going to ask me,she had no idea that she couldn't take it out without being penalized. I told her that having a job that is making her sick is not one of the exceptions to the penalty, she needs to find another job before she quits.

I just had 8 update.

I am so sorry for your losses.

I had one woman tell me stuff about her husband that almost made me vomit and it's not even like we were remotely close.I needed a therapist after hearing all of her issues.Then she stiffed me and didn't pick up her corporate taxes. She wanted to come back last year after being gone five years, but I told her I was too busy.

I've had two of them this year with coupons from national firms. If either one of the coupons was used by the clients that received them, they would have a heart attack when they got the bill. They both get discounted returns from me because they are so easy and have both suffered from job loss and illness.

I'm afraid that I may have to take one and don't want to. I have some respiratory thing that is now making me dizzy and I haven't even taken Mucinex yet. I am tired and feel like I got hit by somethingvery large and sound like I've been smoking.

I have a client that was an attorney employed by a large corporation that is not a law firm. They let her go and then gave her a back bonus on a W2 and a large settlement sum that is called non-wage damages in the settlement papers. We were expecting a 1099 Misc with the amount on line 3, but it is shown as gross proceeds paid to an attorney. Her attorney received his 1099 separately. I am showing the amount on line 21, but wondered if I should also show it on a Schedule C and then back it out as a settlement expense. She was definitely not self-employed and performed no services for the company for this money. She is willing to get her attorney to ask for a new 1099. Thanks! Bonnie

Thank you. It's not very user friendly.

How did you fix it? I can't get it to not be 100%.

That takes a lot of guts. Most mothers are smart enough to take everything that they need with them. You are way nicer than me. I do have candy sitting out for kids, but they don't get meals.

That joke immediately reminded me of my Grandma. We used to watch his show at her place and she loved him. Thanks.

I am only worried about conflict, because she said mentioned that she didn't want him to think that he was cheating her. If she thinks that is how he will feel, then I really don't want to get in the middle. I only took her on last year because her parents are long-time clients. I'm not looking to take him on as a client. They have separate finances and don't pay their bills together, so they aren't looking at their taxes in the same way. She wants the biggest refund and so does he. They don't plan on sharing the money according to her.

Last year, I took off 4 days in March and went to Colorado with my son, girlfriend and sister so that they could ski. I paid dearly for it when I got back, but it was worth it to spend the time with him and take a little break. Once he graduates from college, he will probably move to an airline hub (if he can afford it) so that he doesn't have to commute so far to work and I will be pretty lonesome.

Each parent paid for their own house. Apparently the kids have been staying at the father's house with their mother. I would not mind the comparison so much, but I see no need to prepare a return for someone that is not going to have me file their return. He has his own preparer. I also seem to have a conflict of interest here.

This is a local bank and she has been there twice and received the same answer. That she is not getting one. She said that they weren't especially nice, because she switched.

They both sound good, but I can't have them on my diet.

I just spent 20 minutes on the phone with a client asking me if they should split the kids or what. They both have houses and pretty much stay at his place. He has a child with his ex, but can't claim it this year. I asked it either child had spent more nights with her than him and she didn't think so, but wasn't sure. So I went down the tax tool flowchart for her asking questions and telling her how much I expected she would get. Now she wants to bring him to her appointment tomorrow so that I can tell him what I just told her so he doesn't think she's trying to screw him over. He is not and will not be my client. Fortunately, she makes too much for EITC to come into play. Her parent's are great clients, or I wouldn't spend so much time on a short form return. Thanks for listening. Rant over.

I just want to avoid having to deal with a CP2000 later on. I will just hope that the bank didn't send it to the IRS and not the client.

Thank you. I see so many 1099's for trustee to trustee transfers, that I thought that they all should be reported.

My client rolled over her 401K into an IRA at a bank in 2012. In 2013, she took out the entire amount and rolled it into another one at a different bank. The bank told her that she would not receive a 1099R because she switched institutions. this makes no sense to me. I thought that she would get a 1099R with a code G or something. She has been to the bank twice and they keep giving her the same answer. She thinks I'm crazy, but I would rather deal with this now and not down the road. Thanks!

Thanks, KC.

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