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It's always great when solid citizens get EIC. I wouldn't want to help the guy, either. The parents, yeah. I guess you have to decide if you can stand it in order to take a weight off the parents. Tough call.

Doesn't apply to the current topic, but another reminder NOT to put real estate in a corporation.

Hmm, this termination of the S corp and transfer to the LLC will trigger gain recognition from the distribution of the real estate at FMV.

I've had situations over the years where parents who were good clients asked me to prepare a return for a child when I absolutely didn't want to get involved. No interest in preparing the child's return but didn't want to lose the parents' business. In a few cases, I managed to convince them that the child was better off going to HRB. JH, Liberty, etc (especially if EITC was involved since I just don't do those returns). But in the cases in which I did relent, I just prepared the return at no charge. Then I'd tell them that's all I can do and the child has a year to find someone else for the next return. Most of the time people understand, and they don't like getting charity (especially if they don't need it).

The room was full of pregnant women with their husbands. The instructor said, "Ladies, remember that exercise is good for you. Walking is especially beneficial. It strengthens the pelvic muscles and will make delivery that much easier. Just pace yourself, make plenty of stops and try to stay on a soft surface like grass or a path." "Gentlemen, remember -- you're in this together. It wouldn't hurt you to go walking with her. In fact, that shared experience would be good for you both." The room suddenly became very quiet as the men absorbed this information. After a few moments a man, name unknown, at the back of the room, slowly raised his hand. "Yes?" said the Instructor. "I was just wondering if it would be all right, if she carries a golf bag while we walk?"

Hey, BooBoo, let's go find a pic-a-nic basket!

Like everyone else I have been boning up (laughs) on the ACA. I've got a handle on it more or less. Most of my folks are unaffected BUT it finally occurred to me that there are not a few out there who file their own returns who are not going to have a clue as to what to do. Looks like it will be an interesting season. Of course, it's reassuring to know we have this handy forum available.