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About BulldogTom

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    ATX Supreme Guru

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  1. Help Please - SMLLC Disregarded - ATX Entry For CA

    In the same file. Is that the reason you are having efile problems? You are creating a return with just the 568 in it? Tom Modesto, CA
  2. Help Please - SMLLC Disregarded - ATX Entry For CA

    I I got it done yesterday. Efiled no problem. 568 was held automatically by the software. I released it after I sent the 1040/540 and it sailed right through. Accepted before the 1040 and 540. It was just weird seeing 2 CA signature forms in the same return. Something in my brain just revolted at the idea that I could put them both in with the 1040. I was also struggling with flow through. It seems that I should not have to do double entry, but I did not know if I should do the 568 or the Sch. C first. I did the C first and then filled in the 568. This is going to take some time to master. I need a few more of them to practice on. Tom Modesto, CA
  3. Help Please - SMLLC Disregarded - ATX Entry For CA

    Rita, do you include the LLC return with the personal return, or do you create another file? So for example, do you open just one return in ATX and have the 1040 and the TN FAE 170 in that same ATX return? This just looks really weird to me to have a 1040, CA 540 and a CA 568 in the same return in ATX. Am I doing this right? Thanks Tom Modesto, CA
  4. I have my first SMLLC Disregarded. Amazing that this is the first time I have to do this. I have questions on how to do the ATX entry? Here is what I know: It has to be included on a Sch C on the Federal return. It has to include a CA 568 for CA. Here is what I don't know. 1. Do I enter the revenue and expense on the Sch C and it will flow to the CA 568? Or enter it on the CA 568 and it flows to the Sch C? Or do I have to enter on both? 2. Is the software going to allow me to e-file the 3 signature returns all at once? Thanks in advance. I really don't want to put this one on extension. I can get it all done today. But I don't know how to do the entry. Tom Modesto, CA
  5. Don't close the LLC until the assets are sold. Problem solved. They still belong to the LLC until is closes, and it should not close until the assets are sold anyway. Sales of company assets is as good a reason as any to hold the company open. It is obvious that the owner of the LLC does not want them, so why distribute to him? JMHO Tom Modesto, CA
  6. I'm new and here to say thank you

    Thanks. That made my day. Tom Modesto, CA
  7. Not entitle to subsidy right?

    I think you are correct.... but ....this is where it gets murky for me. If (BIG IF) the son is under 26 and the coverage offered by the son's employer is not affordable, then I think the parents have the "right" to put him on their policy. But then I think his income needs to be included in the PTC calculation. How does that play with him not being on the return? Not sure. Like I said, it is murky. Just like a child who is graduating college this year, but was not a full time student for the spring semester because he only needed two classes to graduate. So he was not a full time student for the parents to claim on the tax return, but they want to put him on the insurance plan until he graduates, but they qualify for the subsidy and they don't have a clue how much junior, who is technically their dependent, will make when he graduates and gets a job, if he gets a job, and if that job offers coverage. Because it is a full year calculation, I don't have a clue how to answer that client. I bet this does not help a bit....sorry. Tom Modesto, CA
  8. I am CRAP sometimes - I should be fired

    Thanks to you all for allowing me to have a personal pity party at your expense. I appreciate you all. On to the next return. Tom Modesto, CA
  9. Eric, our Honorary Tax Star

    Yeah, she used to live in Modesto. But by the time I moved here, she had moved to Southern Calif. (I think). @kcjenkins Please pop into the board and say hi sometimes. Tom Modesto, CA
  10. I feel awful today. Client sends me a notice he got from the IRS asking for taxes of 100K and penalties and interest of 25K on the 2016 return I prepared for his trust. So I go through the letter, and there is a 1099B that was not included in the return that I filed for the client. Had a quarter million in trades on it. So I go looking through the documents the client provided to me. And sure enough, it is in the file. I totally missed the form when I prepared the return. How in the F do you miss a quarter million dollars in trades! The client should fire me. This is totally unacceptable behavior from a supposed professional preparer. I suck. Of course, I have prepared the amended returns and the IRS did not take the basis into consideration, nor did they see the two other trades on the 1099B that produced a loss, so the impact is no where near the bill they sent. But it still does not excuse me for my crappy work. I have no idea how I missed that trade when I filed the return. This is one of the pitfalls of not being in a firm where you have someone checking your work. I don't make a lot of mistakes, but damn, this is a doosy. A QUARTER MILLION DOLLARS! Rita, I give you permission to hug me and put me in the back 40. Tom Modesto, CA
  11. Eric, our Honorary Tax Star

    Where is KC? I miss her. Tom (April 13th, 2017, day 4 of the forum) Modesto, CA
  12. Finished a return for a client with Advance PTC this morning, Filled in all the boxes on the 8962 showing they had insurance every month. The return rejected because I did not check the box on page 2 for full year coverage. Couldn't ATX/IRS see that every month was filled out on the form? This is a minor annoyance, but just something I don't think we should have to deal with. Just like the box on the CA 540 that I have to check that asks if there are any schedules other than A or B attached to the federal return. Duh, the software should know what federal schedules are in the return and check the box one way or another for me..... I feel better now that I got that off my chest. Tom Modesto, CA
  13. Taking More Time to Prep This Year?

    Hey Rich...I hear you on the stability this year. I have been with this software a long time, and I am finally getting comfortable with it being reliable. They may have finally recovered from the 2012 launch disaster. The next step is to make it more efficient for me to work with. I need to spend some time learning to set the defaults and preferences to make it work better for me. It seems that my clientele is getting more complicated every year, and I am spending more time on the returns, so any clicks I can remove from the process is going to free up my time. I think I am going to get new computers this year. Both the desktop in the office and the laptop I take to our seasonal office. I have been running 2 stand alone installs of ATX and just keeping them in sync. It is getting harder to do. How much is GoToMyPC and do you think it is worth it? Thanks Tom Modesto, CA
  14. Mortgage insurance premium not on 1098

    Me too. Tom Modesto, CA
  15. Please Confirm - 8453 Required with Appraisal

    Is attaching something to a return one of the subjects Abby is going to teach us at Rita's bbq? But I think I need the instructions before June 23rd. Any help is appreciated. Tom Modesto, CA