joanmcq

Heck, who knows whats going on...I cancel my paper during tax season. Actually went through february this year before it got put on hold.

Found a chicken in my backyard today. I heard the sound...of Chickens!

The difference is that Newt & Livingston (and most of the Reps) screamed so much about what a moral lowlife Clinton was for having an affair. So they are getting beaned for being hypocrites, not so much for having an affair. I really dont care what consenting adults do behind closed doors, but if you try to persecute me or mine for being immoral, dont get caught doing it yourself.

OK, so I have to manually enter info on 1116, I suppose? oh well, I tried.

Or does it? I enter the amount on the K-1 entry form, but nothing flows to the 1040. Nothing is showing up on either the 1116 or the line 51 worksheet of the 1040. I think last year I just re-entered everything on the 1116, but is there an easier way?

Thank you! Where is that from? If its the instructions, what page? I'm in the NR/PY instruction booklet, and I swear it doesn't mention Sch INC anywhere.

I've at this late date (been using the software for about 6 years) started using the sort features in the efile and return managers. I only check a return is 'complete' after its been accepted by efile on both federal and state. So I can sort returns by incomplete, and efiles by 'created' , 'held' or 'rejected' and compare that way.

Ok, got an MA return, paper filing because I'm not sure if out of state preparers can efile and there's been so many problems with MA efiles. got a Schedule INC with the W-2 info on it. Do I still have to attach a paper W-2? If so, where? The instructions keep saying not attaching one 'if necessary' is a 'frequent error' but I can't find out 1. when one is necessary, and 2. where to put it. I know where I'd like to put it....

I always create the efile before I print it too; catches little oddities like the preparer not rolling over, or I forget to input the refund data...and last year I dont know if the checkbox for efiling was even there, and for some reason the CA part of the letter would always have mailing instructions unless you created the efile.

Yeah, I like the 'will be efiled' too. It definitely wasn't there last year. And I could never figure out who was filing (and 'sucessfully' at that) before the client got the return.

God DST sucks. If they changed the clocks April 20th I wouldn't mind so much. Doesn't save any energy either by all the studies done.

Put it in as though the 1099-R existed.

High income means limitation on itemized deductions. Can also be a limiting factor.

The client I am researching are neither; RDPs with one working and the other going to school. The working partner is supporting the student, but the student took out $30000 in loans to pay tuition, books and transportation expenses. The working partner is paying most of everything else; all of the household expenses. But I ran a quick calculation in Tax Tools with the info I had, and it doesn't seem to work for them. However, the Tax Tools calculates half of the household expenses as support provided by the student for the student...even though the student didn't pay them.

Cant file LLC on two Sch Cs, even if it was the right kind of activity. Can't be any kind of state licenced entity.

Yeah, you only fill out the R/NR if MA income is earned while an NR. MA source Interest goes on line 7a, and there is a nice exclusion for up to $2000. Wages should flow based on the W-2. There is a worksheet for line 14a on which you put resident and nonresident income. I'm in the middle of one where the guy was NR but telecommuted to MA. Not taxable to MA. But his employer reported MA income. And I agree, this return is as bad as the CA one. NY is a pretty good horrorshow too. But at least I'm really familiar with CA!

Is she the beneficiary of the IRA? If a beneficiary, she can make RMDs based on her age if the owner was already making RMDs. the IRA remains a beneficiary IRA. She cannot roll the remainder into her own IRA, and all withdrawals are taxable.

I agree. You would have to own a huge amount of properties; large apartment complexes or commercial buildings that required a significant amount of time. I've had as many as 6 rentals at a time, with one of them a duplex and one a 4-plex apartment (in a bad neighborhood; that one required a lot of work and attention), and never spent more than an hour a month on them.

I agree with Janitor Bob on everything but Bart; I don't know him so I can't comment. Oh and Carolynn, before this year you could not file a H/W biz on two Sch Cs. They were a partnership on a 1065. The 'joint' Sch C box is ONLY for those of us in community property states, where it was, and is, still an option.

Thank you!!! I have tax tools at my office...and I've never explored all of its benefits. Guess I'll take the files into work...

Of the IRS instructions? I see only the standard deduction worksheet for dependents on page 32.

I used to have a support worksheet, to help in determining if you provided more than 50% of a person's support. I remember giving it to a client that was trying to determine if he could take his parents as dependents. I just cruised through the instructions to the 1040 and couldn't find it. Does anyone know if its still there, or have such an animal. It listed different kinds of support & expenses. Also, do loans count as support? I think they do, but I am so fried right now...

Or 'yins' if you from Pittsburgh.

If you qualify for RE Pro, you would be taking your OIC on your Sch C, for your real estate BUSINESS, if you had a qualifying OIH for that biz. All RE pro does for rentals is make them non passive for income and losses. And unless you elect to treat them as one activity, it is pretty difficult to make RE pro. What the CCH article referred to was that if your RE activity was to the point where it would be a trade or business, it goes on the C. RE rental is a passive activity, not a trade or biz in the sense of a Sch C activity, and does not qualify for OIH.

Thanks for the trick. However, code P on a 2007 1099-R referrs to an excess contribution taxable in 2006. So the info has to go on the 2006 return, not the 2007. Unless, of course treatment for a Roth is different than for another type of retirment plan. Does anyone know?