joanmcq

Damn, how long is the name? I’ve gotten messages that the names are too long and have been truncated to fit IRS specifications (usually when spouses have different last names) but never the error message you indicate. Are you using ATX?

Yes, different format, but it has it all.

I just got the gain/loss statement for a client. Haven't looked at it yet. Ugh.

I found the election in ATX. Now do I just delete the 4684?

Did Block maybe file the IRA distribution with a code 3 for disability and check the box that he is under normal age of retirement? Then it does go to line 7.

File it

Delete the form & reload if necessary?

MW is our friend. I use it a lot. Pacun, I use the itemized lists for Sch D LT & ST gains. Roll them over each year.

Yup, all taxable in good ol’ US dollars.

I only print to PDF, so it’s not like I’m wasting paper. I used to uncheck all of the worksheets from my client copy except depreciation (print everything for my copy), but I’m leaving more as I get older.

Do they have non taxable income? Disability maybe?

Thanks for the reminder! Just donated.

This one I didn’t learn about until this year, although the fire happened in 2020. It wasn’t finished and re-rented until 2021. Do I need to check a box in ATX or does filing the election take the gain away?

I'm trying to work out a casualty and it doesn't seem to be working out properly. Client had her rental torched by a disgruntled tenant. Basically the shell of the house was left standing. Client had insurance that covered the rebuild entirely. When I put the numbers into the 4684, it is showing a HUGE casualty gain which I don't think is right. Here's the numbers: Original cost basis: 169,188 Depreciation: 81,680 Adjusted basis: 87,508 Insurance received: 253,105 Gain showing: 165,597 ALL of the insurance was used to rebuild the house. What am I missing?

The staking is indeed other income per the coinbase article. I have two clients I haven't started yet that my husband informs me they both have crypto. Ugh.

You forgot reporting the $200 as income. Other income . Basis is $10,200.

The drum for my brother was approximately $25? It was a few years ago and I don’t remember.

More information: the EIN she used last year & this year is the one from her LLC. Since it was applied for under XYZ, LLC it failed the name match this year. Husband is in the hospital. Does anyone have an idea what I should do?

ok, I finally got the Letter 147C from the IRS and guess what! She filed for an EIN for an SMLLC she started years & years ago. So the EIN she filed to be a household employer is ??? I guess she never closed down the SMLLC? What should I do with the return? File with the old EIN for the SMLLC? Have her husband get one for his own care?

She only needs the one semester to qualify for the credit. Whether its worth it or not to take the AOTC or not is up to you & the client.

I'm using a Brother MFC-L2700DW since before I moved which was over 5 years ago. Still working great. Get the toner & drum from InkJetSuperstore.

You'll have to go into the W2 worksheets and mark any W2s (and any other documents) that they aren't taxable to PA. Pain in the butt.

Client was mistaken, the contributions he thought he made for the last 3 years (all of the nontaxable contributions) and were marked in his organizer, he did not actually make. They were contributions to his taxable account. So do I just delete the 8606? Mark the basis as zero and file it?

I’m using a Brother and it has been a decent all in one.

I have. And I get the result above. the question may be moot; it turns out my client did not make contributions the last 3 years.