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  2. Oh, the client is always too busy. And it often doesn't make financial sense, which is why they will ask us to do it at no charge because they "don't like" paying penalties. Of course, they also don't like hearing us say WE don't like being asked to fix everybody else's problems for free. Rather than work for free, I'd rather just take the time off.
  3. A long time ago, I used ProSeries PPR. Once I grew out of PPR, I switched to Max in 2001. I like the software, but there are things that are making me go "huh?" over the last 2-3 years. Support has deteriorated to the point of little use. The states don't seem to be a priority anymore. Back in the early days, they used to advertise the Zillion Forms. They don't talk about that anymore, but really, that has been the thing I am most hesitant to move away from. I can't tell you how many times I needed a county property tax return or some other 1 time use form and I was pleasantly surprised to find it in my software. I bitch about ATX a lot...more than it probably deserves, but that comes from the frustration of knowing what they used to be and what they have devolved into since the CCH takeover. If they were to get their support in order, I probably would not have much to complain about. I think I will be able to complain for a long time.... Tom Modesto, CA
  4. Agree with Lynn except that it wouldn't be a qualified joint venture, because that is only available where the only owners are a married couple with both spouses materially participating and elect to not be taxed as a partnership, BUT it could be reported as a joint venture where each partner reports his share. Just make sure that the QJV box isn't checked if you do it that way.
  5. I used Drake two programs ago. I switched from Drake to TaxWorks and was blown away how much more sophisticated TaxWorks was than Drake. Then TaxWorks went away and I switched to ATX and was blown away how much more complete and how much faster I could do returns than TaxWorks. ATX is better for people with above average computer skills and self-starters who can solve their own problems. ATX's biggest problem is memory usage, but the solution is simply to close ATX after every return, especially big ones, to clear out the memory. You can install, and I highly recommend it, Large Address Aware, a 3rd party utility that let's ATX work fine above the 1 GB memory limit that 32 bit programs suffer from. Instructions for LAA are attached. Large Address Aware Instructions.rtf
  6. If it was a gift from the parents, then parents' basis is the brothers' basis. ($1 was not an arm's length sale.) If the parents retained an implied life estate under the laws of their state and the house was included in their estate, then the brothers do get a step-up or step-down in basis. It is my understanding, but I haven't needed to look it up for years, that common ownership for a rental does not require a formal partnership. Hopefully, someone with a lot more rentals in their practice will jump in. Oh, oh, Lynn did jump in! What Lynn said.
  7. Their value for depreciation purposes is the lower of their basis (their $1 cost plus their parents basis - purchase price plus any improvements) or FMV at the time available for rent. The $1 purchase price is a smoke screen, and a gift tax return 'should' have been filed for the gift of equity in the home from the parents to the sons. Ask to see the paperwork (if there is any) in case there is mention of a life estate allocable to the parents' use of the home until their death. If no life estate then there is no step up in basis. They could do a QJV splitting the income and expenses (according to their ownership %) and reporting on their respective schedule E's in lieu of a formal partnership return.
  8. I have used ATX continuously since tax year 2003. It has had its problems, but I like the way it operates. Send me a PM and I will be glad to share more information with you.
  9. Three brothers purchased their parent's home for $1 many years ago (probably not the best route to go, but that's how it was done). Parent's lived in the home until they passed which happened recently. Brothers are considering renting the home for a year before they place it up for sale. Intent is to split income and expenses of the rental and sale evenly. Questions: Must a partnership be formed? Does the home have any basis that would allow for depreciation. There have been no significant upgrades over the years. Since the brothers purchased the home for $1, I do not believe they are subject to any type of stepped up basis or anything that would allow them to depreciate the value of the home?? Am I mistaken? If the intent is to sell the home in the relative near term, do they simply include Schedule E's on their personal returns showing the income and expenses for the period it is rented, with no basis to depreciate?
  10. I can't speak to converting from Drake to ATX. I can speak to my experience with ATX. It's been generally excellent. I use the program on a stand-alone desktop and have fortunately never experienced the "debacle" or other issues you may have read about. Year after year, the program has worked well for me. Have there been hiccups, yea...but not to the point that I've seriously looked to jump ship. Over the last two years, there have been a few instances where I have needed to contact ATX support. I chose the online chat option and in every instance my issue was resolved in a reasonable amount of time. I suggest testing ordering a demo of the ATX program and seeing if it meets your needs. I believe they offer some type of pilot option that would allow you to see what the solution offers. Good luck!
  11. I've just attended a demo of ATX as the last year I looked at it was 2012 when there was the whole program debacle. I've read a lot of threads here where people jumped ship to Drake and are very happy -- wonderful. I'm currently a Drake user exploring options. Has anyone converted from Drake to ATX? What pushed you to convert and do you feel it's improved your workflow? When I started in public accounting, I used ProSystem so I like CCH. It seems that CCH has made some integrations over time, but I'm not sure the extent people feel they are part of the family or more the distant stepchild. Any feedback would be appreciated! [Side note: I don't do a ton of returns, only about 40 individuals and 10 entities, so PPR is the only thing I'm looking at.]
  12. Thanks again, Jack. I'm still waiting for EFC to reply.
  13. Delete the 1040 EF INFO document from the return. Delete the State EF INFO document (if applicable.) Close the return Open the return. Click on the large E-file Icon in the top bar Click to allow the addition of e-file forms. Fill in the appropriate information. Re-create the e-file. All should work just fine.
  14. I transmitted a 2017 return to EFC. It was rejected - error message was "Year in Submission ID is incorrect: "2018" should be '2019". Is there way way to change the year?
  15. Looking at VA DOR site, they are okay with Check or money order payments. Normally states would say on the site if payment is over $XXX then they must be made online or e-filed. https://tax.virginia.gov/individual-income-tax-payment-options
  16. I have a client that was applying for a loan and the loan officer did a tax search and found that the great state of NY shows that the 2011 return was not filed and the franchise fee was not paid. My paperwork is all in the file. However, how do I prove now that a return was filed and accepted by NYS. The myATX website only goes back to 2016. Wondering if there was another trick to finding that a return had been efiled. (At this point I haven't tried to upload old ATX data files on the old computer to see if it would provide anything. But I'm thinking I need something from NYS's end not my end to make my case.) I appreciate any insights. (I just dread trying to deal with NYS!)
  17. Yes. You can efile 2016, 2017, & 2018 until Oct. 15, 2019.
  18. The IRS is quick to send a letter to the taxpayer, usually the next day. The IRS letter will tell the taxpayer to resubmit the payment via Direct Pay, EFTPS, credit/debit card online or check/money order. The letter includes a payment voucher and address to send it to. After the IRS computers process the tax return (1 to 6 months), the IRS may send another letter to the taxpayer with penalties and interest. You may help the client by telling them about a first time abatement (FTA) for any penalty. However, the interest cannot be abated. The taxpayer should call the IRS to request the FTA or pay you to process a PoA form 2848, submit it to the IRS and then call the IRS and wait on hold....but usually that only make financial sense if the penalty is big and the taxpayer is too busy.
  19. Can I still efile 2017 returns?
  20. If the US army man has a child dependent, he may qualify as HoH. Otherwise, he is MFS. He cannot claim wife as dependent (in 2018, dependents don't matter). Indo-wife is not required to obtain ITIN. On his MFS return, her ID is listed as NRA (see ATX first tab "Main Info" there's a checkbox in a horrible spot this year, under FOR STATE RETURN PURPOSES, put a checkmark in box next to "Check if spouse is nonresident alien, does not have and is not required to have SSN or ITIN.") However, there is an election for her to elect to be treated as a US person and file MFJ (sorry, I do not have experience with this election which is only done when the spouse does not have income or FTC to offset the income on the US tax return). To convert to USD, use the IRS average fx rates https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates or another fx site that will produce an average FX for the calendar year. Be careful the US army man may have signing authority over a non-US bank account or non-US investments (FBAR/8938)
  21. Or if you are used to Peachtree, check for an older version of that before they started required a new license every year.
  22. Will his local commissioner's of the Revenue's office accept state payments? If so, they will probably take his check without any issues.
  23. VAGI on the form 763 is Federal adjusted gross with some adjustments for age deduction, social security, state tax refund and those plus and minus for Fixed date conformity. Pretty much, if you are required to file federal and you have non-resident VA income, you are required to file 763. The form prorates VA income to total income and taxes that. i have one with a Virginia rental: net income of $230. federal AGI: $160,000 Tax is $3 Virginia wants it! and... they only file joint if BOTH have VA income. VAGI for resident and part-year resident is only the VA income and if under the $11,950 then they don't have to file
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