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Getting ready for the first of the update seminars today. Got my powerpoints all ready, but still on shakey ground since the final instructions for Schedule D haven't been released yet. There's going to be mass confusion next season in properly filling out Schedule D and the new form(s) 8949. Individual capital gains transactions are no longer reported on the Schedule D, but are reported on the form(s) 8949. Initially you classify each transactions as a type A, B, or C, and then fill out a separate 8949 for each type. Classifying the transactions as A, B, or C looks deceptivly simple, but it is not. The 8949 form indicates that if the basis is shown in box 3 of the 1099-B, it's a type A. If the 1099-B does not show basis in box 3, it's a type B. And if there's no 1099-B, it's a type C. However the draft instructions clarify that this refers to the 1099-B as submitted to the IRS, not necessarily the 1099-B as received by the taxpayers. Brokerages have the option of providing gratuitous basis information to the taxpayer even if it is not required by the new law. If they do so, it will be shown in box 3 of the taxpayer's 1099-B, but not in box 3 of the IRS's 1099-B. Fortunately there is another box (box 6) on the 1099-B that is checked if the basis shown in box 3 is gratuitous, and thus the transaction is a type B. Preparers who simply follow the directions on the 8949 form will be wrong. (Didn't this forum previously have a spel checker built in?)

NECPA -take care of yourself! That sounds like a scary ordeal, for sure! I've been lurking, too, while trying to finish up my marathon thanks. Check this, if interested http://tiny.cc/pf71p This weekend I accompany an elderly client to a family reunion of sorts in New York. She meets her newest great grands, including the one from England. She'll be 98 in a couple of weeks so this will mean a lot to them all, I hope. I'm thankful for all of you on this board and Eric for providing it. Don't quite know how I would manage. Ron, I was happy to see truly positive comments about tech support from ATX. I have noticed a lot of customer outreach and improvements this year and am quite optimistic about the future of ATX software. At least I hope it lasts as long as my last few years in practice. Don't eat too much, folks, and be nice to the rest of the family ^_^