Lion EA

Thank you, Roberts.

I can get a lot of work done after dinner when the phone's not ringing and clients aren't expecting an immediate reply to their email and when hubby stops walking in my office, sitting down, and trying to show me some video or something that could wait until dinner! So, I end up working very, very late. I take few face-to-face appointments, but make them in the afternoon.

But I already paid tax (10%) on my IRA, so I didn't have to give you the form.

Not all scholarships are limited to tuition. Some can be used for books or room & board or... Ask your clients questions. Do the best for the whole family.

Also, check what happened in December 2017. If he used a "short-gap exception" for 2017, it might be inaccurate now that it continued into Jan-April 2018. SSA-1099 could begin as early as 62 with Medicare not beginning until 65, so you have to do the math/look at checks/direct debits to see how many months were paid via Medicare. Document.

Don't try to get around the child paying tax on the excess as income. (Unless the parents are in a lower tax bracket than the child.) It's usually more beneficial to pay at the child's tax rate if there is excess. And, if you can create excess to give the parents the AOC if they qualify, that's going to be beneficial for the child to pay tax at his rate to save the parents via the AOC at their tax rate. You'll find examples and guidance in the IRS Pub about coordinating education benefits.

I started at $63, but then wanted a local exchange and to choose my own number. Vanity, I guess!

I've used eFax for years and love it. It has a free version, but you can't choose your number. If you want to choose your number or want to port over your existing fax number, you pay. I pay annually to get a savings. But, because it's annual, I can't remember it off the top of my head; think it's up to $169/year. I get faxes via email, but can also go to their site from anyplace with an internet connection. They usually have a two-month free trial. eFax or j2 Global Communications.

I think Randall is correct, based on what I've read in the more recent IRS "clarifications" but am just about to dig into my SE clients so haven't confirmed the above. Terry, the reason that those three items Randall mentioned are singled out is precisely because they are NOT on the Schedule C and need to be separately accounted for in the QBI computation.

A two-month gap is an exception on Form 8965 (?). Be careful when the gap spans two calendar years. Medicare will show up on her SSA benefits statement; you can divide it out to see how many months were covered (or might need all 12 "check stubs" for her direct deposits if her benefits differ from the norm). If she deferred SS benefits and is paying for Medicare, you can ask for her bank statements to see how many months Medicare direct debited her premiums. I don't use ATX, so can't help you with data entry.

I don't use ATX, so someone will jump in here with ATX-specific instructions. Used to be a bunny hop years ago when I used ATX for entities at HRB.

I think you have to say No if not everyone on return had MEC for all 12 months. Then entering the 1095s will give them the details.

Your software should have a worksheet to compute the taxable amount when Taxable amount not determined is checked. Document your computations.

It's a great planning technique. It does require that the scholarship can be used for non-tuition items, such as room & board, in an amount ($4,000, for example) that gives the parents the AOC. The child at his lower tax rate pays tax on some scholarship monies, and the parents gain an education benefit at their higher tax rate.

Equitable ownership. Don't know if that works for your situation, but search on that.

Frankly, my dear, I'd rather have the wine!

His tax home is where he earns his living. It sounds like CA. Or, an itinerant. (If his tax home were IL, ALL his worldwide income would be reported to IL, his CA income to CA, and a credit for taxes paid to CA on his IL return. But, I don't think his tax home is IL.) And, it's not sounding like temporary, if each contract is for a year. He should have talked to you BEFORE signing a contract. We cannot fix these things after the fact.

Is his tax home in CA? Then, no.

ProSystem fx has the virtual rep chat, also. First year. Only works if you're searching for a word or phase that's already in their KB. I usually start in their KB, anyway, so I've already done what she's doing. I used her a couple times; she suggested I go to live Chat after a couple of exchanges like you had above. So, now when I've already searched the KB, I go straight to the live Chat or the "write your own ticket." I'll try her again later in the year; she'll probably get better over time. Their IntelliConnect and newer AnswerConnect have gotten better over time.

From my sleep-deprived memory, I think the "help" for abused spouses has to do with filing MFS withOUT having to pay everything back. Look for that exception within the form, maybe. That's all I got.

Thank you, Jack. That explains why the date and day didn't match.

Sunday? Or, the 16th?

Same in CT. The lawyers have a strong lobby.

FYI: NY W-2s (and CT and other states) are required to have the federal wages listed for NY. That's the starting point for the NY return. Then you complete the worksheet to allocate for part-year situations.

Are you working off the bursar's statement that has dates for the amounts? Forms 1098-T are frequently wrong.