Booger

JB, I would guess that your client purchased a $100,000 face value note, and there will be a capital gain/loss from the redemption. You could contact the Broker/Issuer who gave your client the 1099-B. It's been my experience that the issuer will be happy to answer your questions. Booger

Candy is dandy, but LIQUOR is QUICKER. Booger

Chrisby, if I have a underpayment penalty on a corporate return, I believe that you can include the penalty amount on the appropriate line of the 1120, without attaching the 2220. This will get you around the problem of waiting for the 2220 "draft" to be approved. Booger

Client owes $$$ to the IRS for an assessment on their 2005 return. Client would like the IRS to apply their 2007 refund against this amount. Will the IRS automatically do this, or should the client include another form with their paper-filed 1040 for 2007 that requests the IRS to do this? No e-file. Booger

Contraire...had a client who met a exception to the penalty, and Form 5329 was attached to the 1040. STILL got a letter from the IRS, which tried to assess the 10% penalty tax. Took a letter to get them to back off. Booger

Karen, I believe that since the legal fees were incurred to get non-taxable proceeds (W/Comp Insurance), they would be non-deductible. Booger

Why is everybody so worked up about these STUPID tax rebates? First of all, I'm CONCENTRATING on my clients who DO have to file an annual return. I really don't have the time to worry about people who might miss out on their check because they didn't file a return. taxtrio, isn't the IRS going to get SS info from the SSA? Booger

Got home from the office yesterday, and the wife said she got a new see-through sexy nightie that she wanted me to see. She went in the bedroom to put in on. Two minutes later, she walked out of the bedroom. I asked her why the nightie was all wrinkled if it was new. She hadn't put it on yet. Need a place to sleep for the next couple of days. Booger

Linda, I haven't had your problem, but I have a problem with this corn on my foot. Booger

L.S., I believe that I would take the Section 179 deduction on the combine. A lot could happen to this client before the 2008 return is due. A tax dollar saved today is better than one saved in the future. Booger

I like old people. Plan to be one someday. Booger

Tom, I don't know whether you saw my previous posting re this issue, but this year (2007) I bought both ATX and Drake. Every other return I'm preparing with Drake. I was planning on reporting back to everybody after tax season. Once you get the "hang" of not inputing directly on the tax form, Drake's not so bad. Booger

Linda, where is Magnolia, Ohio? I know where Engagement, Ohio is. It's halfway between Dayton and Marion. Booger

To solve this whole mess, Congress should state that if the father and mother are not married, NEITHER gets to claim the illegitimate kids. Would save US a whole lot of time. (It's ALL ABOUT US, anyway). Booger

Thanks, Mike.......take a dollar out of petty cash. Booger

Good evening everybody. Got a client who was a part-year Ohio Resident as well as a part-year Illinois resident in 2007. Can I e-file BOTH state returns with the Federal? Are there any special steps that I need to do to accomplish this other than check the state piggyback boxes? Booger (Perplexed & Confused)

You sure it's chocolate? How big is that dog? Booger

AnnieR, I haven't been paying attention to what the E-File manager screen says....my clients have told me that they are receiving Ohio refunds pretty quick. That's proof in and of itself. Booger

Clowns scare me.........I think that's called bozomania. Booger

I don't have it, but it sounds like CCH should have called it SCAM & SWILL Booger

Hi Alpha.............GLAD YOU'RE BACK!!! Booger

I'm honing my oragami (spelling?) skills with them. I've done a bird, snake, and an elephant. The elephant took quite a long time. Booger

Thanks, JB......You're a GREAT AMERICAN. Booger

Thanks, Tom...you're right about the homemade pens. Booger

Hello everybody. There was a female tax preparer from Colorado who contributed alot to the board in years past. I remember getting alot of good advice from her postings last year. But I cannot remember her screen name, and I don't think she's posting this year. She and her husband had a website that highlighted the donkeys they raised. Does anyone remember her, and is she still in the tax prep (and bookkeeping) business? Booger