jasdlm Posted March 23, 2017 Report Posted March 23, 2017 New client has been self-preparing returns. Can't figure out how to print out a depreciation schedule from the DIY software, and all I've got are the 4562 forms and a pile of screen shot entry summary disasters. (He brought his laptop, and I tried looking, too. No dice.) I really can't sort it out in any way that makes sense. An asset on the 2013 4562 changed in value by 2015. No idea why. The best thing that I see is that in 2014, there was a $60,000 remodel on one of the properties, and client took a 179 deduction for the entire thing. Client makes too much money to utilize the passive loss, so piling up suspended losses that will probably never be used, including 179 deduction. Needs a hug, for sure. I've been working on this for 3 hours, and I've got nuttin', except obviously a 2014 amendment, if I decide I can stand it. 2 Quote
Lee B Posted March 23, 2017 Report Posted March 23, 2017 Rather than amending the return, use a 3115 to return to the correct methods. If any tax is due you get a 4 year forward spread. 4 Quote
jasdlm Posted March 23, 2017 Author Report Posted March 23, 2017 Wow! And two of the fixed assets somehow got linked to the Schedule A instead of the Schedule E . . . That's part of the reason I was having so much trouble matching the entry mess to the returns. Tight hugs. 4 Quote
RitaB Posted March 23, 2017 Report Posted March 23, 2017 9 hours ago, jasdlm said: Tight hugs. Yes, none of that side hug crap. Make it count. 9 Quote
ILLMAS Posted March 23, 2017 Report Posted March 23, 2017 13 hours ago, jasdlm said: New client has been self-preparing returns. Can't figure out how to print out a depreciation schedule from the DIY software, and all I've got are the 4562 forms and a pile of screen shot entry summary disasters. (He brought his laptop, and I tried looking, too. No dice.) I really can't sort it out in any way that makes sense. An asset on the 2013 4562 changed in value by 2015. No idea why. The best thing that I see is that in 2014, there was a $60,000 remodel on one of the properties, and client took a 179 deduction for the entire thing. Client makes too much money to utilize the passive loss, so piling up suspended losses that will probably never be used, including 179 deduction. Needs a hug, for sure. I've been working on this for 3 hours, and I've got nuttin', except obviously a 2014 amendment, if I decide I can stand it. Are you at least charging for your time? Quote
WITAXLADY Posted March 24, 2017 Report Posted March 24, 2017 I thought we did this for sh and giggles? 3 Quote
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