RitaB

She did not live in the home two of the past five years. It is reported on 4797, correct.

I would fax a very short cover letter, the "agree in part," section, and the 1040-X to the fax number provided on the Notice CP2000. The one I'm looking at from December 2022 says at the bottom of first page to write "CP2000" on top of the 1040X and attach behind the rest. I would do exactly as they instruct on that one; it also happens to be the easiest thing for me, and I would think the most readily understood for everyone.

I believe each letter shows the total owed. I am looking at a CP22A that says under additional information: "Please note: Only pay the amount due once." I assume that would also be the way it works with the "you didn't make estimated payments like Rita has been hounding you to do" letters as well.

* Can't. I always proofread ten minutes after I hit sned.

They still can find a payment from a spouse with a flashlight and both hands.

Also hate doing the books for people who think running it thru the bank account converts a personal expense to a business expense.

Reminds me of one who couldn't figure out why they had a profit: "We just make enough to pay our bills."

I have two Sch C folks whose QB reports were worse to me than if they had brought a shoe box. I finally created a fill-in-the-blank organizer for them two years ago. They both act like I'm a rocket surgeon, and it's a pleasure (sort of) to prepare their returns now. Yep. I just entered the categories off Sch C, added a bunch of lines for assets purchased, date, cost. Assets sold, date, proceeds. And a separate page for vehicle information. People who don't understand accounting create trainwrecks with software. It's true. I give those organizers to virtually every business owner now; amazing that they think they're so helpful, and it's just putting the lines from the tax return on anything besides a tax return.

Agree with Tom. If you mean county property tax assessment value, that's not particularly accurate here.

I recall you saying one time we were in the "softly whimpering" stage of tax season. LOL. Thanks for a pithy one liner I have remembered every year since. I am also frequently heard saying: "This is too stupid to be real."

Yes.

Why Are You Still Standing Here Wine Pick Up Your *Stuff* Sangria Oh, So YOU Have Been So Busy Frozen Peach Margarita * That last one wasn't too creative; I just want a Frozen Peach Margarita.

* by NOT talking to clients on the telephone. When they drop off, I talk to them as much as I need to. I have learned not to believe them when they say, "It's all there." I go thru the paperwork at drop off and that also saves time. For example, "I need the Bursar's statement, please."

I use my cell phone to text clients because it's convenient for ME. I also like getting answers in writing and send text messages to my email for documentation purposes. (No, most of my clients do not use email effectively.) I know to ignore all, and I do mean all, client calls to my cell phone, my greeting says hang up and call the office. I also know not to respond to text messages I get beyond office hours. I have saved many, many hours by NOT talking to clients. Thank you for the advice, but I can tell you, I do what works for ME.

I agree my needy clients pay more. They should. Last week I increased on invoice because a new client, who had told me he got text messaging, called me asking when they could come in and see what I had done with their [very special] tax return. I generally hate phone calls as they waste my time. I had texted him on March 16 that the return was ready, please come in at your convenience. He had made two trips to drop off, called before each one, my greeting plainly says come in at your convenience, and he likes to hear the sound of his own voice. At pick up, he lamented that according to my projection for next year, he not only does not need to make estimated tax payments, but he will get a $4,000 refund. "Oh, no, I really hate getting refunds." Me: "Well, that's on you, Chief, tell somebody to reduce withholding by $4,000." He kept talking. And talking. He now knows the tax brackets, has a copy of same, and that it is cutting your nose off to spite your face to pay 22% on a withdrawal you don't need because you don't like getting refunds. Notes in file in charge more next time. So anyway, Kathy, I'm probably at $285 federal, $50 state, provided the client didn't waste a lot of my time. We have a preparer here who plays that game with the invoice listing every form in the return, some not even in the return, with the big discount. I am getting several of her clients because she's making mistakes. The last one in here, the 2021 invoice was $325 marked down to $110. If the return was correct, $325 would have been fair. As it was, $110 was too much. Everything is relative; all returns, all clients, and all preparers are not created equal.

As @Donnarae once said, "Zip up your jacket; your heart is falling out."

It's a dependent return. A dependent with 2,000 earned income will have a different SD than a dependent with 5,000 earned income.

Yes, someone on the Facebook group reported an issue with the calculation being incorrect, and they fixed it. Thanks for the heads up, and I recommend making friends with "ATX Tax Software Support Group" if y'all have a Facebook account.

Absolutely! Ann probably thinks MY ministry is to do discount work for angels. Hard pass.

Well, Bob brought in the settlement statement prepared when Bob obtained ownership of the lot on 9/08/2020. Don't you know, the settlement statement looked nothing like the story. Sales price 7,000 and Realtor commission was 2,000. Other settlement fees were $500. Bob did put a note in her stuff saying, "Received lot from Ann 9/08/2020." That's the gist of this whole thing. I'm going with Bob's basis is Ann's basis. $5,000. That was my first thought, but Bob kept talking, and I kept thinking. How Ann reported this is not my concern. She may have reported 17,000 on Sch A donations for all I know. Thank you, all, for your input. Stay strong! It's about time for the three clients you hoped went elsewhere to show up with half their stuff. Hugs!

Yeah, I don't know what planet these people are living on, correct.

There were strings. It was understood that Bob was "buying" the lot, so realtor could get HER commission. Bob is also an angel, and she would never abscond with the dough. She would mess up my highlights, but never abscond with the dough.

Well, I never got to Zero, and I thought I had looked at it all the ways.

Yes, I originally thought Bob's basis was $10,000 as well, but then I started thinking the second gift should be subtracted. 10,000 - 7,000 = 3,000.

Ann paid $5,000 for a lot. Ann engaged Realtor and listed lot for sale for $10,000. Bob expressed interest in the lot. Since Bob is a dear friend of Ann's, Ann wanted to give Bob the lot. But Ann is, yes, in fact, an angel, and she also wanted the Realtor to make $3,000. So Ann gave Bob $10,000. (Ten thousand dollars.) Bob purchased the lot with the $10,000; and Realtor got $3,000 commission. Ann received $7,000. Ann then gave Bob the $7,000. (Seven thousand dollars.) So, of course, now Bob sells this lot, and if you thought that explanation was tedious, you should have heard Bob tell this (not her real name, and she's a hairdresser). Is Bob's basis $3,000? Because I think Bob's basis is $3,000.