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To all the dads, step-dads, granddads, and more, on the Forum.

Except calm the client down repeatedly until they finally believe you, and subside.

I'm getting close to going back to green ledger paper and blank tax forms on paper. It's just ridiculous.

Thank you to the group. Even worked on my cell phone...

Iowa State has a section dedicated to filling out Schedule F. They give line by line explanations and examples. This is ideal for tax preparation. Much easier than reading the 95 page Pub 225 on farming.

After Quicken 10, you have to subscribe and update each year. Honestly, I have had 6, 7 and 10 and they all work equally well. At least 10 is compatible with Win 11. Have done bookkeeping on Quicken for 30 years. You can still get the disk for 10 if you want to pay the price.

https://taxschool.illinois.edu/self-study/

OP asked how the fmv of the equipment is accounted for. If he is unable to repo the equipment the defaulted note is treated as bad debt.

Check out the Iowa State Center for Agricultural Law and Taxation https://www.calt.iastate.edu/

Does anyone have any suggestions for self study courses on farming and ranching?

The correct approach is still kinda tenuous since it's not clear whether any of the assets sold have been taken back?

You do not amend the 2021 return. You report it as a separate transaction where a portion of the note was given up in exchange for the equipment. You need to know two things; the FMV of the equipment and the basis of the portion of the note that was wrote off (including any related legal expense...etc). Since the installment method was not used you do not adjust the basis to reflect the gross profit percent. If the FMV is greater than the basis your client will have a gain on disposition of the installment note, which is ordinary income. If the basis of the note wrote off is greater than fmv of the equipment the loss is a bad debt (business) since the entire gain was recognized in the year of sale. The basis of the repossessed equipment is the fmv. The rules are different for real estate. So gain or loss was determined on the liquidation of the S-corp and the note receivable was transferred to the shareholder?

Jose This is not an official ATX website. This is a discussion board for current and former users of ATX. Please contact ATX support Thanks,

I agree with Lee to check for adware or malware. I am frequently signed in to Google, also use Firefox, and I do not have these pop up problems. Here is a setting that you should check in Firefox that may help. In the upper right corner click on the three bars ( the hamburger ) and then choose "Settings." Next, at left, choose "Privacy & Security" and then scroll down until you see the section for "Permissions." There is a check box in the permissions section that you can check to block all pop ups or list exceptions to that absolute blocking. It looks like this:

If you purchase a Win 10 computer, be sure that it is at least 8th Generation. Anything prior to that cannot be safely updated to Win 11. I think they are trying to drive us crazy.

I use Quicken 10 for several clients who do not have payroll. I have the disk and it just works and works without any problems.

I AM INTO THE E SERVICES AND I AM ADDING THE CERTIFIED ACCEPTANCE AGENT APPLICATION SUBMISSION AND THE SYSTEM SENDS AN ERROR MESSAGE WITH MY NAME IT SAYS THAT MY CREDENTIALS ARE NOT VALID.

I use Chrome, Gmail, Contacts and Docs and don't really have any issues. Yes I have occasional popups about other Google apps I don't use, no big deal. The popups that are much more annoying are from MS on my desktop.

I think calling the IRS about one of these notices right now would be an exercise in frustration. Have your clients check to make sure their payments cleared their bank and let the IRS clean up this mess. I see no need to do anything unless a second notice shows up.

I'd check for malware first, because I've never seen anything like that happen. Then download a good uninstaller like Revo and uninstall anything you didn't install and/or don't want. Be careful with removal of folders and registry entries if you aren't comfortable with that. Then remove any extensions in Firefox that you don't need or don't use. Good luck!

I also use Firefox but additionally have AdBlock Plus. You can block just about any thing with it and selectively unblock particular sites always or once. And I never stay signed in to Google anything.

"I have QB Desktop Pro 2003." Sometimes (great) minds think alike. My QB Desktop Pro is 2019 and going strong. I also do not use payroll and no longer update. It still works just fine!

On Screen 1 (General Tab) there are fields for a foreign address.

unfortunately, they will probably have to call the IRS. Client (who I did not have 2848 on) used direct pay on 4/11 received one (CP14). Since it had been 8 weeks, I recommended she call: the number on the notice didn't even work, (800)829-1040 was overwhelmed but she kept trying at 7:00 a.m. and got through. I don't know how this would happen with properly attributed direct pay but at least she had a confirmation number. Those who mail in checks...kind of like Coach Bo Schembechler's comment on the forward pass: Three things can happen and two of them are bad.

Where is the check box for taxpayers abroad? Ive searched and searched. What I have found is Go to 1040, General Info, check box THere isn't a General info tab.........