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  1. Now I understand what’s behind the gold star
  2. My brain is toast for the night, I have a client that sold their rental unit in 2016 at a loss of $40k (short sale, 1099-C possibly in the near future), in 2016 they were only able to deduct about $20k of the loss, in 2017 the carryover amount is limited to $18k. My question, is the loss allowable if they didn’t have any passive income?
  3. General Ledger Packages

    I forgot to mention Atx client write up.
  4. General Ledger Packages

    I sometimes get QB users say, “oh accounting is so easy.....”. So I feel your pain.
  5. General Ledger Packages

    How about One-Write Plus or Cougar Mountain?
  6. Retroactive appraisals

    Depreciation, property is going to hit the market pretty soon.
  7. Come again?

    I hope there is a happy ending to your clients problems.
  8. Come again?

    Those exact words reminds me of a former client, I saved his life by completing a couple of years of zero quarterly returns, and to add icing to the cake, he promised I would be his accountant for his secret mix of roasted coffee bean business. This is me
  9. Retroactive appraisals

    Does anyone know if there is a time frame (within IRS guidelines) to do a retroactive qualified appraisal if an informal appraisal (TP used neighbors selling price as a comparable) was used to value an inherited property?
  10. Who's correct H&R Block or me

    The parent or the student can claim the lifetime learning credit, if I remember correctly there is no age limit.
  11. Out of court settlement (property)

    Thanks Judy
  12. I had previously posted a question in regards to increase in basis, if you skipped my previous question here it is: Now that we a have a copy of the legal documents, the above is still true, however the settlement document does not mention anything about the property and its basically says both parties agrees to settle for $200K, leave each other alone and case closed. My new question, can anyone point me to any IRS reference/tax court case to show the TP why they dont get any benefit, increases/decreases their basis or can be expensed. Unfortunately I have not been able to find a similar case online. Thanks
  13. 1099R Wrong Code

    What will would be the support when the IRS comes knocking with CP notice?
  14. How much would you charge?

    I just received a call from a client asking me what can he do if his landlord is entering his shop and triggering the alarm (10 minute call)
  15. How much would you charge?

    Let's just say my fees are a small fraction compared to the attorney's