grandmabee

She probably under the limit for household employee anyway. just start 2011 the correct way

thanks for the information. not six months in 2010 but maybe 2011. and I thought I remember seeing where I have to sign up with new York to efile with them. I assume that means for extension as well.

thanks for the heads up I could not figure out why I had a 1 up by my head. I keep learning new things about this forum and the atx program as well. There is many little tricks to do that I didn't know without this forum.

I am trying to finish off an extension for NY. CA resident working a job at the Columbia Univeristy. filing as nonresident. Is there a credit for tax paid to CA on the same wages? and Now I am looking to see if there will be city tax. this is a first for me. Just want to get the extenion done now. Looks like I have to mail the form in as they don't automatic accept the federal extension. thanks for any help

why did they take the distrubtion in January?

check the atx website. atx probably doesn't support part year IN returns. paper file it only

yes I only do one partner. the 1065 is marked final and all k-1's are marked final also. that is what surprised me. when I close out a partnership return I have all zeros

ok student start school sept of 2006 we take the hope credit. 2007 and 2008 we use the tuition deduction 2009 American opportunity credit. she graduated in June on 2010 so On January 2010 she had not completed first four years of college. I am thinking she gets the american opportunity credit this 2010 year also. Agree?

I am doing a partner. I asked for to see the 1065 because their capital account on the k-1 showed negative. I thought on final 1065 the balance sheet should be zero. they have figures in all of it just like its still open. money in the bank inventory notes payble etc. Is my thinking wrong?

why is it that when you paper file an extension you don't need a signature but when you efile you do? I know I have efiled some that I did not get the signed 8878 just the 8879 when final return goes in

yes, have client take out rmd now. I have my clients pay the tax then writE a letter explaining what happend and ask for abatement. I have always gotten it. letter should explain what steps they have taken to make sure it won't happen again. some others on this board don't make their client pay the tax just write letter telling what happened.

horse boarding business. I am using sch C but when I do the barn for depreciation I use the 20 farm buildings Is this correct. Does anyone else have a hard time finding the right code for the business? thnaks for any insights

PUT ON line 29 and also a top of the se schedule. it should flow by itself

you don't prorate the year. he was or was not covered by pension plan that's what it goes by. then of course income level makes a difference but it atx is saying non deductable his income is problaly over limit. if non deductable might want to change it to a roth.

a k-1 should be sent to each partner each year they are in the partnership. if they are passive this year then list as passive. but they still have their capital account. still part owner of business. the partnership issues the K-1's to the partners.

the sons sold the note at discount. there is a worksheet to figure the new taxable amount for the 6252 which would be paid off. the dad basis in a note would be what ever he paid for it. interest is taxable I think its just like if a mortgage broker purchase it.

couple moved out of their home to another state. could not sell home. someone agreeed to lease with option to buy. Did that for about 14 months now they lost their jobs and will not buy. Do I treat this like a rental for the whole time? never had one of these before. any help thanks

or a relative or close friend of client

whats the age of your client? Could be child claimed by parent.

I love Joy Wilen. I do her update class every year and try to get in one other too. She somethings speaks at our anual convention.. very very good speaker and knows her stuff. She always work with real live situations we work with.

yES that is right it is from the court. but IRS did not send her the refund. would they have automaticly sent it to the court? and it is chapter 7 not 13

The bankrupcty is final. taxes were discharged. but I think in the bankruptcy it states IRS will take any refunds the next 2 year but then I thought maybe it was 3 yrs. so are you saying once the tax is discharged in bankrupty they can't take any more money on that debt?

any one know off top of head how many years does the IRS take your refund after you file bankruptcy on income taxes. I thought it was 2 years but I can't find it yet

I have a final K-1 from 1065. Loss on Line 1, loss on 1231 gains and negative capital account. Business closed. I do not do the 1065. Active partner. So I can deduct all the losses. Is there anything else to do. My partner did have a loan to the partnership that will not be repaid. What happens to that loan? Thanks for any help.

A lot of the states have a credit for the appliance.