grandmabee

It is probably the new Oregon transit tax. should be coded STT. in box 14. It is an Oregon tax deductible on Schedule A for federal but not Oregon. It started in July of 2018 I don't input thru ATX on W-2 but put under state tax on line 15 (schedule A ) with Oregon as the state then it will flow correct on forms. I have seen it show up several different places on the W-2. it is .001 by gross wages starting July 1 working hours.

It doesn't matter, as long as his name is still on bank account. I don't ever fill out who's name in on account on that tab just routing number and account and they all go thru.

Well ATX has now fixed it to show up on top of 1040.

Yes and remember to keep track of the principal payments they go to the non deductible loan first and once that is paid off then you are back to 100% interest deductible. I have had several where refinance in 2015 to take out equity and by 2018 it is already paid off in full so 100% still deductible.

But do you think that might be a problem if there is an RMD and you are not marking it as an IRA?

I know another ATX glitch. You have to keep deleting the form so it doesn't limit the business interest deduction.

Why can't they be single?? she is not married as of 12/31/18 I have one of these and I was going to do single.

Yes, that is where it is showing up. ATX tech support said that was a new law from IRS but for some reason none of the other big tax software, Lucert, Drake, Tax pro still puts in on the top of 1040. Hmmmm wonder why only ATX must follow this new rule.

No IRA's are not included in the deduction for QBI. different code section.

I would say yes. but then could see if estate was insolvent and non taxable income.

if there is a refund there will be a form 1310 to be file if no refund then no form needed.

The CC company wrote off the debt that is why the 1099-C was issued. What I think you are asking is does the wife have to paid taxes on the 1099-C for 2018. I would say no because she is filing single and the debt relief was for the past husband. If there is an estate then the income would go there.

I have 2 rental properties. one has a loss and one is a gain. I net them together. But one sold at gain this year. I have 4797 part 1 and part 3. all ends up on the schedule D with some 1250. does this gain go into the calculation of the QBI? I can't see where I would add it to the worksheet? but I don't see where you add the 4797 part 2 to the worksheet either so I must be missing something. thanks for any help.

You should still be able to take the first 6 months as a deduction because it is on the W-2.

I have done that very same thing. they always change their mind after everything is printed and done. Yes do forget too as we are interrupted so very often.

I didn't think you could do the 3115 in the year of sale. Maybe I am just remembering wrong.

I would like it to automaticly do the calculation for the Schedule C's also once we mark it that it qualifies.

This is where clients should contact us before doing anything. This would have been so simple if one member just bought out the other outside of the partnership.

Yes, within 60 days doesn't matter if different calendar years.

unless they are lots of assets then I would probably just put the schedule C back in with no activity.

manually use the 4797.

How do I find the ATX official community question board this year?

Hmmm ....I didn't realize the IRA was deducted.. I thought only pension plans, sep, simple, 401-k etc.

But if they are under the income limit it doesn't matter correct? this only comes into play if over income otherwise you get the 20% deduction.

oh Great !