joanmcq

No thank you! I haven't see that 5 in my weight for many a year. Exercise routine has gone all to hell though.....

I've had a bear claw, coffee and now I'm into the Monster energy. Oh and vitamins. I'm pretty good with the pre washed salad though; throw a bunch in a bowl (medium sized mixing bowl), sprinkle with some sort of crunchy stuff and dressing. Voila! Dinner. And tangelos. I've been craving those things and they've been 99 cents a pound. I hit 159.6 this morning on the scale, over 15 lbs down since December 5.

I looked at Ultra Tax after 2012. Too pricey in either of it's iterations.

I run maximized and I know what they are talking about. Luckily for me, my assistant ran the updates before I dragged my butt out of bed, and she managed to fix it so i wouldn't have even known it updated except the notes were on the screen.

Terry, that's what the 5 year look- back period means; looking for assets transferred to impoverish the person in order to qualify for Medicare LTC.

My kitties provide a calming influence to clients, especially when confronted with owing. My dog used to work as a doorbell, but I think she's going deaf. Or is just so old she doesn't care anymore.

Don't agree with moms lifespan. I inherited my dads IRA and the RMDs are based on my age. Researched it well when he died. He was taking RMDs when he died.

Don't change the code. There's a spot in ATX under the 1099 to enter any amounts that are rolled over. She's still likely to get a matching notice, but changing the box 7 code is a sure way of getting one.

SOL on the IRS collecting is 10 years, barring anything that causes the tolling to be suspended. So no one is going to pay for 20 years. So it might be better to be paying on 2010 rather than 2009. Get 2011 done, and extend the rest. Are any of the assets ones that would fall under the de minimus election?

If the son was still the beneficiary, he could have stretched the IRA over his lifetime. I guess the attorney didn't think the son could be trusted with the money? To get 5 years of payments, wouldn't the estate have to stay open for 5 years?

Much sympathy at this difficult time!

Must have had the estate as beneficiary or no beneficiary on the IRA. One of the things we can do for our clients for added value is explain things like this. Either when we are delivering their return or as off season planning income.

This ^^ I must say the tax class my assistant is in now at community college is doing a good job of making the students both work on programs and doing forms by hand. Bookkeeping is the same. I learned on green accounting paper. I still don't understand how QB does the things it does. One of the reasons I hate it I guess.

My assistant is a friend that I knew had been taking classes at community college to get an accounting certificate. Was in her early 40s and has an unusual appearance that makes it hard for her to get work. She had done no tax work except for filing her own EZ forms. This is her third tax season, and she now does most of my data entry, knows more about same sex couple taxes than most practitioners, does all of the bookkeeping, and runs the payroll clients. Some returns I literally only have to review and hit print.

Parents income is too high to qualify for any of the education credits. The full tuition at a private university paid by parents trumps her lowly wages... Not to mention living back at mom's.

The amount that is considered wages in ESPPs is the discount that the shares were purchased for. If held for a certain amount of time (qualified disposition), most if not all of the discount is capital gain, not ordinary income. Income is not going to be recognized, therefor, until the shares were sold.

Too much income for any education credits. It's just dependency.

PTP. The losses can only net against that particular PTP, not other passive losses.

Hubby wants to take her, wife doesn't. It's an icky divorce situation so I'm looking for other input.

Don't check the passive box if they sold the activity. And don't use the broker basis for one that is sold. Every one I've seen only uses what they paid for the PTP, and doesn't take Into account the income and distributions that have occurred.

I've still had clients send the state balance due to the IRS and vice versa. Checks cashed by the agency that got it.

If they were ISOs, ESPPs, or RSUs, no code V. Some companies reported it in box 14, some didn't; you'd have to go to the paystubs to glean the wage component. The supplementary statement is probably correct.

Client's daughter stopped attending college classes in April 2014, but didn't officially drop out. Got incompletes in her classes. Moved back in with mom, and got a job, made over $3950. Under age 24. So, does she qualify as a dependent by virtue of the fact that she was enrolled in classes for 5.5 months, but didn't actually GO to classes for 5.5 months?

I had a client mail in the 1040 client copy, and they got a letter wanting all the rest of the schedules. took awhile to get it all sorted out. Confused the crap out of me until I got a copy of what the IRS had. They had looked up all the SSNs even (I have them masked on the client copy).

Yup, I pay my IRA management fees from outside the IRA just so's I can deduct them.