joanmcq

I've also got an OR return to struggle with. It seems OR allows a deduction for foreign tax paid regardless of whether you took a foreign tax credit or deduction on the federal. Is this allowed if you didn't take the credit because of the exclusion? reading the info on the OR website leads me to think its ok...

well the 4684 is required for a casualty loss regardless, so that's nothing new. As for the rest of it; heck I thought the sales tax on cars was going to be an adjustment to income; I guess they didn't want it to reduce AGI. The Forbes article said it was available if you took the income tax deduction, but not if you took the sales tax deduction. But a deduction for cars was always available for the sales tax deduction!!! Yep; new forms, new charges.

Ok, now I'm trying to input foreign employer info. I have the FECWKST open, but the info doesn't seem to transfer to the 2555, nor can I find a place to enter it. I'm about to chuck the election to file joint and just have them file separate since he only became a resident alien in June. AAARRRRRGGGGH!!! And I still have a bunch of Schedule C clients to do...(but at least no biz returns). I've also got an OR return to struggle with. It seems OR allows a deduction for foreign tax paid regardless of whether you took a foreign tax credit or deduction on the federal. Is this allowed if you didn't take the credit because of the exclusion? reading the info on the OR website leads me to think its ok...

I'm trying to enter the wages for the W-2 Data line 1 on form 2555. there is no bunny hop as to where the data comes from and it is a white calculated box. Got any ideas how to get the amounts in there? this is a hard enough return without having to try and figure out the program...

It depends; what happened? need more info about the investment to determine how to treat it. The Rev Proc only deals with the Madoff scheme, if I remember correctly.

KC is right. who in their right mind would WANT to use SMR for 18-wheelers? all expenses should be itemized and listed, mostly in 'other expenses', not under 'vehicle expenses'. And since OTR tractors are depreciated over 3 years, its unlikely using accelerated depreciation even makes any sense.

Joyce Ann Carpeneto, Oct 1, 1960-Sept. 11, 2001. Forever young, forever loved.

Client's husband (not a citizen) got an SSN while here as a student. He moved to Chile, working for a US nonprofit in 2005. a year or so later, he married my client (also my cousin!). They moved back to the US in 2008, at which time he got his green card. From what I understand, I file him as dual status for 2008, attaching a 1040NR showing his US-source income for the period he was in Chile in 2008, and file an MFJ return with his US income and all of her income, Chilean or US. Can this return be efiled, or does it have to be paper filed?

But if the foreign earned income exclusion does not apply to civilians working for the US military (which I believe jainen is correct on), then the number of days out of the country does not matter. He doesn't qualify, period.

Thanks all! haven't been on here much since I had been getting ready to teach my first class, do the extensions and get ready for vacation...leave on Saturday!!!!

T'wouldn't be any worse than the shameless marketing of Reagan. I was at my dad's house taking care of him the week Reagan died. Since my dad was a Fox news fan, we had it on all day. All Reagan, all the time. hours of commentary on how long the line of people waiting to pay their respects when nothing else was happening. Then, of course, the deification of Regan by y'all conservatives. I wasn't a fan of everything Kennedy did, but I have always admired how he and his family dedicated their lives to helping those on the bottom rungs of society.

I was just on the phone with an auditor asking about an amended return a client had filed. They are auditing or at least reviewing, all of them. She was pissed because she was processing amended returns when that wasn't her job, everyone was processing amended returns and they were taking 16 weeks to get them out because of the FTHB credit. They're looking at if you deducted mortgage interest in a previous year, RE tax, etc.

how can you call health care a 'massive usurping of individual rights'? Are they taking away your right to purchase private insurance? No. By objecting to this, are you taking away my right to buy affordably priced insurance? yes. How many of those objecting are on Medicare?

Well, I did go & re-up. got the 10% discount and I don't have to pay for the program until December. had to pay shipping & tax though.

She asked for more docs than on the IDR because she suspected underreported income. You'll have to prove all deposits that were NOT taxable income..that was the removal of the transfers. She found 20k at this point you couldn't justify. Figure out what it is or there will be a 20k adjustment upwards.

Yeah, I found it scary too. Only thing he didn't mention was the 'birther' thing. Scary how an apparent wingnut once ran a fortune 500 company. But my dad was a genius once, before he started watching too much Fox news. Rots the brain, that stuff does.

PY or NR is the same form for CA, the 540NR. If he did not move to CA, none of his income would be community property or CA source. She is taxed in CA on her CA income. CA starts with fed AGI, & then apportions tax based on CA income to non-CA income. She is a PY resident & he is a non-resident. For NJ, lets see if an NJ specialist weighs in!

I heard that. If they are paying additional taxes, alot harder to get rid of the product...now the talk would be about 'lost revenue'. Smart move!

well, when CCH bought ATX all the customer numbers changed. so that isn't odd.

Not true, the new legislation allows for a rollover to a bene IRA, which can then be distributed over the bene's life expectancy.

The thing is, water has been overallocated for years, and its been known for years. I read an article where a farmer was quoted as 'cutting back' the acres he was planting in cotton, and the hardship it was causing. The question I thought was why was he growing a water intensive crop there in the first place at all??? The amount of land that was devoted to orchards and vinyards that cannot be let fallow in drought years has increased sharply over the last 20 years, increasing the strains on the water system. Large areas of the valley (Westside) should have never been irrigated in the first place and are slowly becoming poisoned by selenium buildup. The water use policies in this state and around the west are asinine to say the least.

If she converts to an inherited IRA, she only pays tax on the RMDs as they come out. I am currently writing a class on retirement distributions and I've never heard of a pension being coverted to a Roth. An inherited Roth 401k can be converted to an inherited Roth IRA...

First of all, the girl who died was not working in a cherry orchard, it was a vinyard. No shade. And after she collapsed, the foreman refused to take her to the hospital, insisted she would be ok for over two hours after she collapsed. I don't see many of you working in the sun in 100 degree weather; actually its been over 100 the last week in Sac. There are advisories all over to stay indoors, etc, because the heat mixed with the bad air is causing a lot of breathing problems. the OSHA requirement is to have shade. An ez-up costs $100 bucks at Wal-Mart. And guess, what? They're portable, so you get a few and move them to where people are working for the day. Not really hard. And as to water with no cups? Kinda hard to drink from that cooler faucet, but who cares? They're lucky to have that job dammit! As for KC, the delta smelt is an indicator species, and a low spot on the food chain. When you don't have food, there are no salmon, or bass or other things that people like to eat. Oh yeah, who cares that the salmon boats have been beached for 3 years now for the Sacramento salmon runs due to lack of fish? need to send all that water down south to grow COTTON (water wasting high pesticide using crop being grown in an arid area), and ALFALFA(very low value crop) grown by farmers that spray irrigate rather than using drip systems that do not allow for as much evaporation. So the fishermen lose their LIVELIHOODS, the southern central valley farmers take the water from the north and complain when we don't want our water systems drained dry.

6 rentals isn't that many, really. SFRs wouldn't make you an RE pro, especially if he has a full time job as well.

Before you get too hung up, verify that the 1099-Misc was NOT included in the gross income of the Sch C. Taxbilly is right; regardless of the 1099s they should have given you the total income; I then back out what was received on 1099 for the 'not received on 1099' entry line, and enter each 1099. That way the total income is reported regardless. I have had a couple of CP2000s (this is a CP2000, isn't it?) where the income was duly reported but they got the notice anyways. so we showed how we came to that figure and got a no change. The penalties is the accuracy related penalty, and it is automatically assessed whenever the underreported tax is over 5K. Interest you are NOT going to get abated. I have had some luck in getting penalties abated lately.