schirallicpa

ahhhhh - so I found another person with the same situation, and in their case they did not get the credit because of other PA income. but it makes sense. thank you for the heads up.

If no one answers this, I would like to post your question on a different forum. I am curious what the answer is.

I have not come across this before. I live near the PA border in NY and have a few PA returns every year. In this case, the person resides in PA and works in NY. There is no PA withholding, only NY withholding on his W2. I prepare a local return for him, which is 1 % tax. However, on the local return, there is a credit available for taxes paid to other states. I have never paid attention to this line before. When I do the calcs, it basically eliminates the local tax. Is this correct? I guess I thought if you lived in PA you paid local, cut and dry, and that's that. Generally, I have people working in PA, living in NY and they have the PA local tax withheld and we file the local return showing the 1 percent tax, and the 1 percent withholding, and nothing due. But NY'rs get that back as a credit on their return. So now I am wondering if I have missed this local tax credit and how many PA people should have gotten it.

My clients rarely come in the day I get it done. But they usually come within the week. But by then, we have to go back into their file and re-create them...again. It makes sense if they sat out there for a month or more. But a few days is too short. Time is of the essence and I shouldn't even be here wasting time complaining about it.

one or the other. Sounds like she is in the first year(?) The kids often take a college course in their spring year of high school and are not full time students. Then they start regular college in the fall. Just a heads up - if they are going to take all four years of college, sometimes it works out best to take the lifetime in that first semester year, and save the AOC for the next 4 tax years. That helps later when the grants or scholarships drop off as they make their way thru or go into a fifth year.

Are you kidding me?! One more reason I want to leave this state.

Mailing address is different. Not sure if we mail to 1040V address or 1040x address when it is efiled. I know it would be preferable if my old people would get online. But they won't and we keep chasing mailed checks.....

Amen. I have not been able to log into myAtx since they merged with CCH. It's always a big run around. And today the number that I have for ATX help is "an invalid number". Good grief

The winding down was last year. "They" are the spouse and the nagging daughter. Yes - a sole proprietors business ends the day he dies. The winding up should be within a reasonable time. They have not sold the inspection equipment because they are basically lazy and haven't bothered yet. I suspect the son-in-law is printing stickers for the cars of friends and family. I was not going to file an estate return that only showed a business license and business insurance expense that would provide less tax savings for them than the cost of my work. But now I will.

Taxpayer was a sole prop/dba as a car mechanic. He died last July 2020. But the spouse hasn't sold the equipment yet, and apparently there is some insurance being paid and a license is being paid on for an inspection machine to sit in the shop. So they want to argue that therefore the business is still open and she should be able to deduct these things. Why am I even wasting our time with this? Sick of people.

If they insist on mailing a check, I insist that send it priority so we have tracking

Thank you for confirming what I was thinking. Already getting brain fog and we're really only a month in...

Taxpayer had purchased real property in his name only in NYS. While married. Then he died a few months later. Does the wife keep his basis or does she step up?

They stay the same. Just roll them over. Pretty please.

The mistakes always happen on the persnickety ones - I agree - bad karma. I just did a PA return for someone and forgot that federal wages and PA wages are not the same when there is retirement deduction on the federal. They marched in this afternoon all up in arms. Ugh. I don't know why the program can't catch that one. I feel like it used to. PA returns became more complicated in ATX over the last couple years, and PA is not complicated.

Thank you.

How are we reporting year 2 of this?

I tried to delete the main form and it won't let you. I tried deleting the state form and creating another from the main form. The state form NYS IT201 does not open thru the main form. Ok - I'll open it thru forms menu. But now in the main form the county and school district does not populate in drop down box.

Well thank you so much! I appreciate this.

My client seems to have 2. And I have another client that shut up business and wants to discontinue the EIN. They make them so easy to get, but no clue how to get rid of .

Have tried several times this week to log on, clearing cookies and all that stuff. The first time I tried I got the message that I had tried too many times. Now - I probably have tried too many times. I tried from 3 different computers. Looking in to mailing.

I also think you need to dig for more info. I think - unless it's a preparer that is part of this group - most people don't understand passive losses and have no clue how to handle carryforwards and application on the taxreturn.

Trying to manipulate the master form so my billing makes better sense and is easier for the assistant working up front meeting people. Would like to subtotal the cost of the tax return and then add on the other admin fees or 8821 fees (if they opt for it) so that that I don't need a separate bill for that. And so the person helping me isn't having to stop and do math to back it back out. (Just because this is an accounting office doesn't mean anyone who helps out lately has any basic math skills.)

Well - then it reduces the capitalized expenditures. It's either income or reduced cost of capital expenditures. But it doesn't reduce the current basis.

It is income but would be offset by the expenses of converting the house to single family. I suspect his regular rental income is reduced (from 2 payees to 1) so this would make up for it. Why would the basis of the house be reduced? The cost that has gone into the house should not be negatively impacted by an incentive to change the "type" of house it is.