Lion EA

I had gotten a call from the broker of a client in December. Nasty. Covidien Shares Acquired by Medtronic.pdf

My mother was a beautician and could read mirror images as well as she could read the actual print.

I have always asked my clients to get the student's account from the bursar with dates, amounts, etc. Some colleges actually print it out on the back of the 1098 or include in the same mailing. In a time pinch I have settled for clients going through their check registers for amounts paid. And, like our Dear Abby says, most of my students are at schools with tuition in the tens of thousands of dollars with little in the way of scholarships, so just checking that the student didn't pay it all himself via student loans is really enough. Except for the last year when tuition was probably paid the previous December.... But, that student at a community college, I really wait for the bursar statement for anyone that might possibly have paid less than $4,000 out of pocket. As a rule of thumb, if tuition is less than $20,000 I need to see a breakout of who paid what and when and how much. See it now or see it later when the IRS letter arrives!

That sounds like me, Marilyn. And, thanx for the article, KC. I've been reading reviews from CNET and other sources.

3 years after the due/file date or 2 years after paid. So, unless he paid really late for the closed years (which sometimes happens when the SFR or other IRS correspondence begins) he's out of luck. That said, I have heard of people asking to apply a refund from a closed year that actually gets applied. Had a DIYer who slipped one by and then came to me to fix some other years. If this "client" is still not responding to you, I'd mail back his original documents certified/return receipt and forget about him.

Yeah, my work desktop and work laptop -- very powerful but very heavy laptop -- are 7 Pro. A Surface would be for a lighter weight computer when I need QB and Excel at a biz client's site or to travel with instead of just my iPhone for email and a little research. (Was just at my kids/granddaughter's out of state when a church member passed away, so my music director hubby and I as liturgical assistant were putting the funeral together long distance with our part-time priest and part-time church secretary at home with their young kids on school vacation. Would've liked a bigger keyboard than my iPhone. Hubby had his iPad Air.) So, I can learn 10 gradually and be ready when I next upgrade work computers or am forced to update OS to 10. But, it's definitely 7 through this tax season for tax purposes. Maybe I'll order a Surface...

Or, hire her as an employee...

So, if I buy a new Surface that's bundled with 10, will I be OK? Not for taxes or even that much for work, lightweight to take to biz clients for QB and Excel or to travel with for email.

I did my yesterday (31 December 2015) and all is well.

I would explore the online options to see if it matters that you're using a Mac. Most should have demos available for you to test drive. And, as you say, pay-per-return to keep your costs down.

68. But my grandmother lived to 103, so I hope I have a lot of years left.

Merry Christmas!

Hubby listens to it running his Saturday errands and comes home with helpful &/or funny bits.

What nerds we are!

And, make the universal definition of a child actually universal.

They hire a bunch of highly paid execs to sit around dreaming up acronyms that ultimately make fun of us taxpayers.

Thank you, thank you.

Help. I've gone blank and just had a call from a broker of one of my clients. Are the long term capital gain rates inside a trust/1041 the same as for individuals/1040? 15%? (At a biz client's site, but had a voice mail. Would like to respond, but can't look it up right now or even shift my brain away from biz books!)

I seldom do estate returns, but one big reason to file anyway is to elect "portability" by filing a return to move the deceased's unused exemption to the surviving spouse. She/he might win the lottery or the house or other asset might skyrocket in value during the rest of her/his lifetime. It's a CYA so her/his heirs won't sue you for not protecting their inheritance from estate taxes down the road. At least put in writing that you discussed the benefits of filing and have her sign it for your files.

I've told some to call his/her divorce lawyer about what to provide, or their lawyer doing the closing on the mortgage about what is required. They seem to listen to the lawyer that they pay more than me!

Yeah, I upload to FileShare.

I will give a copy to a client to do with what they want. If joint, I will give a copy to either of the spouses who signed it. Let them argue with each other instead of me! I too had a pushy bank call me to say that I (and I think he yelled the word "you" at me) was losing my client a low mortgage rate by not emailing the bank a return copy or comfort letter that very day; then the client, who is a lawyer, called to say he'd sue me. Of course, the bank and my client had been working on the mortgage for weeks and could've called me soon enough for the client to receive a copy to use.

Yep, I tell people I have a virtual water cooler.

So, the answer is that they cannot dissolve the partnership and continue renting the property? Does it make a difference if they want to use Schedules C or if Schedules E? Does it remain on a 1065 no matter that his clients want to dissolve? Can't be done? Partnership continues as long as the property is rented, or is a business? I'm just trying to understand what you're telling Yardley. Where does the Schedule D come in in his OP?

I thought I was asking questions re Yardley's OP about what happens when the partners of a partnership want to dissolve the partnership and distribute all the assets and continue, perhaps, as individuals/sole proprietors/Schedule Es. If the properties, as the OP asks, are still rented or produce income for the former partners, well what? Do they appear on the individual Schedule Ds, he asked? At what "sales proceeds"? Judy says the cost basis would be the basis in the partnership, but not more than the former partner's basis. I was hoping to see what you experts tell Yardley about how the numbers flow and where to, with this dissolution but the "activity" of renting continues. I'll start a new topic if you think that's best, but I want to hear all your guidance to Yardley.