joanmcq

I've got about 75 extensions filed (including my own) and waiting to hear back from a client that owes about $16k, how he wants to pay. Got a few more to review. So frikkin tired AND have a headache. Still have to figure out my estimates and review my assistant's return-wife bought a PTP. Really tempted to just go to bed right now though.

Should already have a big PITA fee!

Ask the client what they want to do. Because except for IRA deductions there ain't much you can do to reduce their income. And no, passive losses c/f until passive income. They'll like it when they sell the property. Or tell them to just stop making so much money.

I've got one of these. Pretty straight forward if your client isn't an SSMC and has to file as single for ND :P

Like I said the ones I let pay with the refund live across the street. I've also been doing their returns for over 10 years, and they've never failed to come over with cash in hand in about two weeks. I told them one of their now adult kids stiffed me the year before (for $60, an EZ) and I wouldn't have wanted to be in the room when that conversation ensued!

One of the reasons I take credit cards now! I will extend credit to some clients; hold a check until payday and I just had one ask for a max of 21 days, and I'll nudge him if I don't see it then. Some of my early clients ask to pay when they get their refunds, but they also live across the street from me, so collection is pretty easy.

I don't think you put it in as -. Just the amount nomineed

Hell, put it on extension. They should get a nice refund with all of the depreciation to catch up.

My state letters are still showing up with a paragraph that says the return has a balance due and then gives instructions to pay by EFTPS. Might be that I haven't fixed it on my laptop where my assistant does most of the rollovers. But I am getting really sick of going into each $(@: letter and deleting that crap.

I've started adding the comparison to most of my returns. I think I'll start putting it in all of them.

You can. I do an adjustment on line 21 though. IMHO it's better for the IRS matching computers.

Oh I needed that!! A literal LOL, I was howling!

LLC fee isnt deductible as tax paid. It's not income tax.

It doesn't. I do an adjustment on line 21 for ordinary income. Any items that have special tax significance like qualified dividends, nominee. I override the withholding on the withholding worksheet.

Yes to all!

And even better when you can have two returns open: MFS done at the same time, 568 & individual return.

The C shouldn't be an issue,but this error is coming up every time there is a C & an E. I've had a C & E since I started doing taxes. And this issue has NEVER come up until an update about a month ago.

Just mark everything 'so not compute gain or loss'?

It's a pain because this pops up even when the Sch C activity isn't passive! Never did this before.

Partnership went out of business. It was a retail store, and they sold some of the display cases, but the computers & other equipment were distributed out to them. How do I account for this in ATX & on the return? My brain is mush right now.

The IRS disallows the FTC a lot. Just send in the documentation from the 1099-Div.

CA Sch CA NR, and the return should be a 540NR

What kind of entity?

There are boxes on the A & D lines to simply put in the proceeds & basis. No need to put in any dates. Sweet if there aren't any adjustments- like those #^{+ wash sales.

Taxpayers abroad aren't due until June 15.