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  2. thank you - that occurred to me today..
  3. Today
  4. This is a small private forum in comparison to the official boards run by the software vendors, and not every post is guaranteed an answer, and certainly not within an hour, and especially not at this time of year when the majority of our members take a break from this site. Maybe have a little more patience, or perhaps you should post on the official forum for a wider, larger audience.
  5. I know this title is not for this forum but I did not receive the answer on the e-file board so I try to post it in here. I prepare the Form 8865, Return of the persons with respect to foreign partnerships. Unlike the form 5471 for foreign corporations, Form 8865 is not created along with form 1040, instead it replaces the form 1040. So, I wonder if I have to e-file form 8865 and 1040 separately. Is there any ATX expert who have ever e-filed this form before?
  6. I prepare the Form 8865, Return of the persons with respect to foreign partnerships. Unlike the form 5471 for foreign corporations, Form 8865 is not created in the list of 1040 file, instead it replaced the form 1040. So, I wonder if I have to e-file form 8865 and 1040 separately. Is there any ATX expert who have ever e-filed this form before?
  7. Yesterday
  8. I am just about the 2 year mark waiting for a refund from a deceased TP. Unless a significant amount, or the heirs are not cooperative, it makes sense to disburse if ever received without holding up anything else. In my case, the heirs are not cooperate or uncooperative, they just wait for checks... Thankfully, the bank account can stay open with no fees. I left .02 in it. If I move .01 to another account, them move it back, the account does not go inactive.
  9. I remember a couple of years ago, Ms. Kardashian made a post on social media asking if someone had won the Powerball, then one of her follower responded by telling her to stay out of poor people's business B....h! For some reason this news article reminded me of that post
  10. Spoke with an attorney in a similar situation about 2 weeks ago and his client received her refund 3 years after the amended return was filed. Good luck.
  11. Believe it or not, I have a client who has a motorcycle hearse business. Generally, he hauls his cycle to the site of the funeral. We are depreciating the hearse and cycle and taking mileage on the truck. He has a sizeable investment here as this is a glass sided hearse. His business appeals to bikers and sometimes veterans. Really, a rather classy setup. A long line of cycles can follow in the funeral procession.
  12. Once in awhile I get a text in Chinese. Fortunately I don't understand it so I delete it
  13. I am sure everyone needs some more celebrity news "Kim Kardashian will pay $1.26 million to settle Securities and Exchange Commission allegations that she broke U.S. rules by touting a crypto token without disclosing she was paid for the promotion. The SEC said Monday Kardashian was paid $250,000 to post on her Instagram account about EMAX tokens, a crypto asset offered by EthereumMax. Kardashian didn't admit or deny the regulator's allegations as part of the settlement, in which she agreed not to tout any digital assets for three years."
  14. Does client have an NOL CF for AMT? If so, and especially if a new client, is that entered properly in ATX?
  15. they are getting a refund so we will do it that way
  16. Hmm, I recall it working for my amended returns. Maybe try to delete, save and close, open and add back?
  17. Got a bulk email this morning in several languages saying my website has been hacked and they are going to release information from my databases if I don't pay up in bitcoin. It also said that if I pay up, I don't have to worry about any of my clients finding out because bitcoin is anonymous. My website has nothing on it except my name and contact info plus info about my business. There are no databases containing anything related to any clients. I hope the fraudsters distribute it far and wide. I need some new clients. Tom Longview, TX
  18. I have to amend a client's 2020 return. I plan to efile, but I am not seeing a new 8879 in the return. The numbers populating the 8879 are from the original return. How do I populate a new 8879 for an amended return to get the client signatures? Thanks Tom Longview, TX
  19. It has been a while since I have had one of these. Does the NOL he is carrying forward contain any preference items? I think that it may have to be adjusted for any preference items but then is entered on the 6251 as a deduction and can be used to reduce his income.
  20. Had one today. He's over 59.5, worked for a private company, $$ in Boxes 1 and 11, so can exclude $20K which is more than enough this year. So glad this thread was here. You all saved me some time proofreading this return!
  21. Client has 26 rentals that he takes care of himself - has a NOL of $183,000 CF Profit of $169,000 on Sch E, loss of -25,000 on a Sch C, pension of $27,000 and soc sec - $16,000, -0- taxable, giving other income of -45,000 from Sch 1 page 1, taxable income of -14,000 AMT -instead of a $10,000 refund, he owes $9,000 All depreciation written off with Safe Harbor that can be. The QBIC does not kick in as it shows negative income on page 1 Am I missing something? Thought the NOL would wipe put his profits this year. And then what happens to the NOL if he has to pay? Is not used? Could he or should he be a real estate professional? Does that help at all? He had a profit of $73,000 last year. Thank you for any help. D from God's country - NC WI!
  22. Last week
  23. The SSA usually keeps the SS# active until the final return is filed, then they deactivate it. Once they do, there is no way to reactivate it. You will have to mail the amendment. If they are due a refund, warn them to expect it in a year or so. If they owe money, no problem.
  25. The only other option would be to pay Drake to host the program so that both of you have online access. I considered that option several years ago when their fee for hosting was $50 per month but now I believe Drake's fee to host the program has doubled so that's too expensive for me.
  26. I am trying to transmit a created e-file but keep getting this message: "An error has occurred and is preventing this e-file from being transmitted". There is a red circle with an exclamation point inside it. It gives me no clue about the error so that it can be fixed.
  27. The license is per EFIN per location, so if the secretary of the licensee is working at the same location and the laptops stay in one location, installation is allowed on both laptops. Secretary should be set up as a separate user with her own log-in and password, not granted admin privileges, and I believe the primary administrator can choose to further limit what the secretary has access to. Ideally the the laptops are networked, otherwise if standalones each data file worked on would have to be manually transferred between machines, at least I *think* that is possible. It would be best to check directly with Drake support. Here's the part of the license agreement that covers the EFIN/site location issue:
  28. As cbslee said, we could come up with a variety of labels, but client and "partner" need to describe what their intentions were and provide available documentation.
  29. I know the 10 % limitation on C Corporation Charitable Contributions was lifted to 25% for 2021. I have been searching to see if the 10% limitation was also lifted to 25% for 2022, but I am not finding any positive confirmation of that so I am tentatively assuming that the 10 % limitation is back in effect for 2022. If anyone has a source confirming the 10 % or the 25% limitation I would like to know. Thanks in advance Lee
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