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About joanmcq

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    ATX Supreme Guru
  • Birthday 08/24/1960

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  1. I’ve told my couple of PMI clients early March. If I file before then I’ll be a hero.
  2. Roni Deutsch is Back!!

    Ugh, I wonder why she didn’t get charged.
  3. HELOC Interest

    I had one with student loans paid off. Became an amt preference I had to calculate each year.
  4. End of Entertainment Expenses?

    I’ll have to see what Spidel says, but I think that falls under entertainment. Travel meals are fine, but entertainment meals are gone.

    Oops, my bad, not sch c but service businesses.
  6. HELOC Interest

    I always ask for the closing statements. Sometimes you’ll see a payout to ford auto finance or student loans. But when it’s simply cash out? Hard to tell.

    Be aware you’ll have to look at the income limits on the pass through deduction for Sch C. Somewhere around $157,000 for mfj. Lucky me I don’t have to worry about that
  8. ATX 2017

    Hmmm I don't think I got mine.
  9. You’re f-ing kidding me. I only use one biz email. One.
  10. I got all the way through the process, ID verified & all, then when I got to the screen to change my password, I get an error message saying my email was already associated with an account. No $h1+ Sherlock! I guess I’ll have to call.
  11. I swear I knew this - SEHI deduction

    John, that isn’t the reason I’m amending. Had the wrong 1099-b, but found a few more deductions too. Oh, and CA vs NV income split. I guess my question is: if I am not showing any payback of the credit on the initial calculation, do I do any iterative calc?
  12. Ok, I even taught classes in this, but now I am totally confuddled. I had to amend my own return. Got the advanced premium tax credit. I also have LTD insurance and dental that aren’t part of the marketplace. If I put in the actual premiums I paid, in total, including LTC & dental, I have a $6 additional credit. Do I have to do the iterative calculation, and if so, how? i swear my mind is going blank like my client,s do when I try to explain this stuff to them.
  13. Optimizing education credit effect on state tax

    Even with the increase in CA tax, it's still better to take the LLC. but I was hoping I could make it a lot better. Never hurts to ask around.
  14. Client is grad student whose entire tuition was paid by scholarship. I put the info into ATX's education credit worksheet and hit 'optimize' just to see what happened. And what happened was that the client benefits by including all of the scholarship as income and taking the Lifetime Learning Credit. However, he owes for CA. I'm wondering though, if I could exclude the scholarship income for CA, since there is no CA benefit. Or do CA statutes require conformation?
  15. where to enter basis?

    The basis worksheet says to enter a partner's basis info on the K1 input sheet. But I can't find anywhere on there to enter it. Anyone know?