Booger

Taxpayer contributed auto on 12/31/07, but Goodwill didn't sell the vehicle until 01/15/08. Is this a 2007 charitable contribution, or a 2008 one?? I believe that it is a 2007 deduction, since taxpayer donated the vehicle on 12/31/07. However, the FMV of the auto wasn't established until 2008. Any help would be appreciated.

Margaret, I know that all the numbers used to calculate the deduction are entered on line 12 (Codes P,Q,R) of the 1120-S. They then should automatically flow over to the shareholder's K-1.

Margaret....MY BAD! That'll teach me to READ THE INSTRUCTIONS first!. Sorry about that. Repentant Booger

Margaret, I saw that the 8453 has a box for the 1098-C. If you e-file the 8453 with the 1040, how do you "file" the 1098-C? Is it mailed in, or what?

Client donated their auto to Goodwill. They received a Form 8283 and Form 1098-C from Goodwill. I believe that this year's return cannot be e-filed because the 1098-C needs to be "attached" the 1040. If it CAN be e-filed, how is this done? Thanks for your responses.

I am SO GLAD that ATX sent me an e-mail telling me when the calendar year-end Corp Returns are due.....I NEVER WOULD HAVE KNOWN that March 16th is the due date, since the 15th falls on a Sunday. PS Catherine, I still LOVE you.

LindaB, I'll do that and report back.

Thanks, Jack (take a dollar out of petty cash).

Forgive me if this has been brought up before....filed MFS for clients with 2 minor children in 2007. Spouse who claimed children received 1200 stimulus check, other spouse received 600. In 2008, if spouse (who DID NOT CLAIM kids in 2007) claims the kiddies, it appears from the calculation that another 600 will be given. Has anybody else run into this, and is it correct?

Thanks, KC.

Client "walked away" from his timeshare investment. Received a 1099-C with $11,810.34 in Box 2 and $13,500 in Box 7. I believe that I can report a "sale" of the timeshare on Schedule D, with the $13,500 (FMV) as the sales price and his initial investment as his cost basis. Since there was no bankruptcy or insolvency involved, I believe that the COD of $11, 810.34 needs to be included in his income. Could someone tell me if my thinking is correct on this issue?

Yes, the SD100 is included in the "piggyback" Ohio. The reason I know this is that my clients are receiving their School District Refunds.

What is the Form that an individual who is being paid as an independent contractor (who really should be paid as an employee) files with the IRS putting them on alert about this issue? I remember reading some posts on this board regarding the Form, but cannot remember the Form number. Thank You.....Thank You Very Much Elvis Booger

Think I'll give my attorney a call.....I want to make this issue "bulletproof".

bcolleen, I recommend PenSoft payroll. Give them a call at 757-873-2976. The program supports multiple FEIN's. They will be happy to answer your questions. Program works very smoothly (I do my company's payroll with it). Booger

What kind of an answer is that, Ray? Are you saying that the only way that the employer has to enforce an overtime cap is termination if the employee has more hours than the overtime limit on his time card? Got to be another way to enforce this.

I know that the employer has the right to limit the amount of overtime an employee works, but how do you get around the problem of the time clock? If Joe's time card shows 50 hours, and the employer has told him that only 42 hours will be paid, isn't the employer obligated to pay him for the 50 hours? I don't want any trouble with the wage & hour state people here in Ohio. Really don't know how to handle this. Any suggestions would be appreciated.

Terry D., simple....more money back.

Client's wife passed away in November. Will be filing separately for 2008. Can wife's return be e-filed? Federal and Ohio

Thanks, mcb39. Grateful Booger

Client took an IRA distribution after he was 59 1/2. On Form 5329, I am going to use #12 (OTHER) as the exception to the 10% penalty. Return will be e-filed. I would like to include an explanation on why this distribution is not subject to the 10% penalty.....is there an "area" where I can attach such an explanation? 1099R was coded "1".

KC.....FYI, talked to Kathleen Dixon at "the help desk" for Louisiana E-Filers (225)-219-2492. According to her, a non-resident Louisiana return CAN be e-filed as a stand-alone or piggybacked with the Federal. Just wanted you to know.

KC, I'll take your word for it.....will paperfile the Louisiana Non-Resident Return. The schedule did state that only Full Year Louisiana residents can e-file. Read it too fast.

It appears that Mississippi can be filed as "Stand-Alone", whereas Louisiana requires piggyback filing with Federal for a non-resident. Will therefore piggyback Louisiana with the Federal, and file Mississippi and Ohio as stand-alones.

Thanks, JRS....I bookmarked that schedule.