ILLMAS

Not in recent years, the last year they lived there was in 2005, the short-sale happened in Jan. 2011. MAS

They did receive a 1099-C. Thanks MAS

Can someone guide me on this form, doing one for the first time this year, but in this case there was no bankruptcy. I already recorded the sale on Form 4797 and there is gain. Cost 165K A/C Depr. -55K Basis 110K From 1099-C 145K Less Basis -110K Gain 35K On Form 982 I have checked off 1d, box 2 145K and box 3 Yes. Is this the ony things that get filled out? Thanks MAS

I don't know anything about Paperless Plus, but I sure can tell you I am very happy using a Fujitsu Scansnap S1500. Check out this two videos: Scanner http://syndicate.sel...=536&Height=525 Additional software (you can buy this software separetly or buy it bundled with the scanner) http://www.fujitsu.c...ents/index.html

If MFJ couple phases out because of MAGI, can they still put money in the IRA even though they cannot deduct it?

Check this out: http://www.irs.gov/newsroom/article/0,,id=206292,00.html MAS

I only had a couple so it was not a problem.

I believe if recreate/transmit them again they should go through, worked for me.

Ok here are two fictiional scenarios, TP sold two properties via short sale (no bankruptcy): House 1 Cost + Improvements $85,000 Less Accum Depr -25,000 Adjusted Basis 60,000 As the property was increasing in value, TP refiananced and took out equity to the tune of $280,000 over the years. TP goes through hardship and cannot pay, so the bank allows him to do a short sale, house sells for $90,000. The bank issues 1099-A for $240,000 which was the outstanding loan. Would it be safe to say $240K was the sales price and his cost was $60K therefore have captipal gains of $180K and is now on the hook for taxes? House 2 Cost + Improvements $380,000 Less Accum Depr -70,000 Adjusted Basis 310,000 The house is sold in a short sale for 175,000 and bank issues a 1099-A for $300,000. Would it be safe to say there will be a loss $300K - $310K = -10K Thanks

There is a glitch when it comes to this form, I had the same problem but I resolved it by just downloading the form from the IRS website and fill it in.

Does anybody know why the IRS is delaying on some refunds? I efiled a tax return early this month and the refund is programed to arrive on Feb. 28, thats a whole month.

Hello Cathy, can you please share what were the errors, $4000 is a lot to miss. MAS

Just another senseless fee to stick it to you, but yet again people go to them :)

If they were not having a problem paying $1500, charge them the same or just a little less $1450 or $1400. Clients love having to pay less. Early this year a person came with a 1040 with 9 properties and asked me how much do you charge because HR charged him a lot the prior year, I told him my fees start at $1000, he said HR charged him $800 and his previous preparer would charge him $200, I said great return to the person that charged you $200, but he died.

Because of this thread, I decided to check if HP had updated the drivers for my printer and yes they did, this morning I reinstalled the driver and now my printer is back to how it use be FAST. MAS

Best thing is to let it go, but if you would like to get this off your chest I would call the wife and complain to her about the husband behavior and drama and blame her for the miscommunication and now you are out of $$$ dollars. And don't accept them back obisously they don't respect you or your work. MAS

I started having problem printing after I upgraded to windows 7, now I cannot print a large tax return at once, I need to print it in sections. Same happens when I print large PDF files. I will be buying a new modern printer soon. My printer gives me a low memory error. MAS

ATX gives me an error: Filer and spouse name, formated per IRS specifications is too long for efile, XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (clients name) Paper file the return. Oh well :(

I have a client that in the past their return is rejected because their last name is to long, would it be okay just to file out Form 8948 and say the return is rejected because of long last name? I haven't tried this year, but the client is in a rush to have it done because they are going to be leaving the country for a couple of months. The name appear exactly as there SS card but it's kind of long. Thanks MAS

In an IRS audit, your client will be asked to provide a log, at this moment you are solely going on the information your client is providing you and thats all.

I am having one of those days today, but do I need to report a 1099-A for a TP where the balance is higher than the FMV and was his principle residence? And do I use form 982? Can't remember if they are excluded since the value on the house was less then 500K Any help will be greatly appreicated. MAS

Please choose one (see attachment), compliments of MAS

You should see: Organizer (10) I call this one the short version Organizer (Comp) 10 long version more details MAS Edit: Make sure you have the lastest software update, there is a chance you haven't made a software update since last year.

First you have to load the form, you get two options, I call it the long and short version, once you downloaded the forms you just print like if you were printing a tax return.

Just wanted to find out if attorney fees are deductible under Sch A, misc. deduction for a loan modification? Thanks MAS