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I am sending a short letter with a 2 page attachment to all of my clients that potentially qualify.

How will clients (entities) and non-clients know if and what they may have to do? Is there a news announcement? Or some way they will be informed?

My email works fine on my laptop. Same setup as my desktop. All three email accounts on my laptop show the server settings as mail.att.net. Very weird. My thought is I need to generate a new secure key because of the change in server settings on the desktop. Like the server sees that there was a change to my settings and deactivated my secure key. Does that sound right to any of you? I am grasping at straws... Tom Longview, TX

"How do I access my att.net email? Access your email on the web Go to currently.com. Select Mail. Enter your email address and password. Get your authentication security code. If you have more than one phone number on your account, choose which number should get your code. Enter the code and click Submit to sign in." It looks like your email will be . . . . currently.att.yahoo.com

I think its because att email is hosted by yahoo. "Hosted" may be the wrong terminology, but if you are being redirected there, did you try signing out of that and then signing in to your att email again?

Yesterday afternoon I sent an email. No issues. About 5PM I got an email. At 7PM or so, I went to look at email and I got an error message and nothing would send or receive. Looked at my server imap & smtp settings and they were changed from mail.att.net to mail.yahoo.com. This happened about a year ago and I was able to change it back to mail.att.net and it worked fine. This time, it is not working when I changed the server settings back to att.net. Any suggestions? I really don't want to call AT&T support. I think I am going to have to. Tom Longview, TX

The problem lies in trying to calm myself down. The client paid electronic estimates. The client thinks that I have a magic want. The one and only time I finally did reach a person; they wouldn't talk to me.

That, too.........I can't afford to purchase the program and replace two perfect condition Win 10 computers in the same year; or in any year. I have my scouts out searching for alternative solutions.

Lee B Thanks for the link to Iowa State Center https://www.calt.iastate.edu/ I agree with Max W comments and I am saving the reference for next tax season.

I did my two businesses - took about 15 minutes total. I'm not handling it for clients - it's their responsibility as it isn't a tax issue. I have 1 client I will remind this fall but I'm not doing the work. Everything I've read says it's a legal issue with the federal government (entity type issue) and not my problem.

So far I have had one client ask because their attorney was pushing to do something, and all that I told them was that I would follow their attorney's advice.

I think they are trying to increase their profits by forcing users off Win 10.

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,