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In regards to this.....the customized columns should roll over each year. You have to rename them each year even though the prior entries roll over.

I hate the horizontal entry. Too much scrolling, and it's impossible to see the whole entry screen. At least with Sch. D/8949 I've got a choice to use the entry screen or the detail screen.

HP for next couple of weeks are offering Win 7 machines and then then are gone. So if you think you will need to replace your older computer now would be a good time to get one. I did. They are available at the online store. August @ ADG Financial.com

ITS Either an installment sale or you allocate the cost basis or you can take the full cost now this year and 2013 will be 100% gain

One afternoon a lawyer was riding in his limousine when he saw two men along the roadside eating grass. Disturbed, he ordered his driver to stop and got out to investigate. He asked one man, "Why are you eating grass?" "We don't have any money for food," the poor man replied."We have to eat grass." "Well, then, you can come with me to my house and I'll feed you, " the lawyer said. "But sir, I have a wife and two children with me. They are over there, under that tree." "Bring them along," the lawyer replied. Turning to the other poor man he stated, "You may come with us, also." The second man, in a pitiful voice, then said, "But sir, I also have a wife and SIX children with me!" "Bring them all as well," the lawyer answered. They all piled into the car, which was no easy task, even for a car as large as the limousine was. Once underway, one of the poor fellows turned to the lawyer and said, "Sir, you are too kind. Thank you for taking all of us with you.†The lawyer replied, "Glad to do it. You'll really love my place. The grass must be a foot high."

Cat, I think Michael is right, even tho Joan's answer is "logical", it's not right for a Liquidating distribution.

its a schedule D transaction offset by basis. Liquidating distributions isn't a sch B item

Study for my E.A. exam? Beat on the beta program some more? Free WiFi here with total access.

Rich, ATX has always had the ability to customize the return manager. I had columns set up similar to what you've described for return tracking, and ATX also allows the user to delete any of the predefined columns too. With the return manager open, click on the "Options" menu at the top and choose "Customize Fields". A box will open with columns currently displayed with check marks. It should be self-explanatory. In that same box, scroll down to the bottom and you'll see where you can add more columns and name them anything you wish. ATX also allows the columns to be rearranged in a different order also. Sorry for the slight hijack, Jack.

Jack: I would like some improvements in the Return Manager: Ability to track Multiple Status's across the period oftime the return is in the office. We have ONE Status block. Give us five to ten. So I can have the Date in, Date entered in computer, date asked client for info, Date Reviewed, Date Completed, Date delivered, Date Efiled, Date Final, etc. Let me control the titles.. Allow us to have the appointment Date and time on the Return Manager, so I can use the return manager to track appoinments, and then have those in the organizer. Bring over formatting of the Client letter from year to year so I do not have to spend three hours recreating it. Make it work on a network. Allow me to save the "Dear "client name" formating from year to year. Make all the "Jumps" work if you click on them. YOu ahve a number you don't understand where it came from and the "Jump" link doesn't work... Well, that's a start. Rich

I agree with Jack. Had one these last year. Read Pub 4681 which is fairly well written and some detailed examples.

Insolvency does not apply. You must calculate a sale of the rental property with whatever basis is there, with the sale price as the amount of debt forgiven. There may be, as is often the case, a taxable capital gain on the sale. This is step one. Step 2, There may be tax relief for the 1099C under the Taxation Of Canceled Real Property Indebtedness rules. The fair market value of the property comes into play in this calculation. Personal insolvency does not come into play in this instance.

The entire concept of "the rule of law" (the opposite being rule by fallible and favorite-playing mankind) is that the law be applied equally to all, without regard to ANY factor outside the actual law. What should have absolutely NO bearing is social status, political leanings, hair color, skin color, number of teeth, number of friends in "high" places, depth of checking account, dwelling in mansion or trailer. So if one wishes to live (or lives in a country that claims to adhere to) under the rule of law, ANY time a (legal, properly passed, Constitutional) law is bent, twisted, or broken to accommodate one group - or punish a different group - that must be stopped, for the safety and the good of all.

I would like the format for the k-1 inputs (where you enter recourse/nonrecourse/capital/ etc. for 1065 and 1120S to be vertical pages instead of the horizontal line.