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Oh yeah........ (and yes, that's a bit of my desk underneath)

It was not business property so no to 4797. I would report on 8949/Sch D. Basis equal to value at DOD of dad plus expenses not deducted elsewhere.

Spoke with client. He expects 2016 to be a big income year so I suggested he apply an amount TBD to his 2016 estimated taxes. He likes that idea. This year I have been slow to get there...... Bad things about home office:. Pretty lonely sometimes, no really fancy copy machines, no admin assistants. Good things about home office:. The afternoon nap .

I am amazed you managed to leave them untouched long enough to photograph them!

In 2014 and '15 I had two oil execs with huge W2s, but with offsetting non passive K1 losses. Both refunds were over 200K. Refunds took a little longer probably for a routine verification but they were paid with no problems, so far anyway. And this thread started with $2.77, now that's compounding thoughts.

So, this guy is preparing returns, I suppose they are being filed, but we're not sure. Then he is hiring you to review them. I doubt he would ever tell any taxpayer what he's doing, so I'm not sure how you'd be in trouble. If he can't do them correctly the first time, he wouldn't know how to amend one either. I bet he's not thought that far ahead. May not even know we amend returns. He may think he can just take your work, do the returns over, and everything is peachy. Having said all that, the reason I wouldn't review returns he's done for others is that I'd be training him to take business away from me.

Bahahahaha! I don't know, but I do know that every time a client says, "It's all there," I know for sure it's not all there. Every. Single. Time.

Indirect maintenance and repairs. Take total amount.

Well, the commercials and lack of IRS audits mean everybody with a computer is a tax professional. Shoot, your guy here is a professional with just a pencil. This is killing us. Other professionals can charge what they want because people can't do their own lawyering or doctoring or tooth pulling or insert your own example here. You can charge based on the problem you solve. If there's no problem with preparing an incorrect tax return, they don't need us.

Who said they were thinking?

I also have high-roller clients. Guy brought in 12 months' bank statements Thursday and said "There's some interest on that bank account, but they didn't send me a 1099 form; I don't know why." Checked after he left and the YTD figure was six cents.

Incredible to see how the mother instinctively cradles the young croc in her mouth to keep it out of harm's way.

It's amazing how obsessed everyone's become with their phones, playing with their phones all the time -- at restaurants, movies, gym (so I've heard), while driving, eating, walking, talking. The other day I was at a funeral when the person next to me asked me, "Rabbi, what's the wifi password at the cemetery?" I told him, "Have some respect for the dead!" "Thank you Rabbi," the person replied. After a pause, he asked, "Is that all lower case?"

Sch D .

PAINTING EXCEPT for new construction is always a current year write off

Harry and David, you must really be appreciated by this client. You have enough there to share with 47 of your colleagues, or am I California Dreamin'

I know. I used it at Block when it was spreadsheet based and thought I might use it in my own business. But, I chose something else as working more the way I work. I still benefit from the wise and humorous people on this site, though, and love you all.

1, Every security software system works perfectly until it doesn't. 2. There is no system that will catch everything. 3. Using good low risk habits of computer/internet usage is your best defense. Tech sites like PC Magazine & PC World have in depth online reviews that are regularly updated. Read the reviews and pick your poison.

Enter them in alphabetical order. Only way I have found.

Taxable amount goes on Form 1040 line 7. Enter this W-2 like any other W-2. Of course, if the amount in Box 1 is not all taxable, I'd enter it all on line 7 and then subtract the nontaxable amount on Line 21. I bet it's all taxable, though. But, you never know if a form is correct or not. Unless you did it yourself. Yanno?

Elderly client made appointment weeks ago. Two daughters are handling his paperwork. We start the return when they all three get here, and I get the information about his rental property and medical deductions from one daughter. She asks what else I need. I tell her all the 1099s for interest and dividends, the social security statements, his charitable contributions, his wife's IRA withdrawal. Other daughter says, I have all of that, I can drop it off tomorrow. What are they thinking??????????

Rita, you hit it head on! He is going to pay me to do the review which doesn't mean I am preparing the return. I will point out the errors and then offer to prepare the return at my normal fees (well maybe a PITA fee is in order here). Exactly as you said, I am not educating him on how to prepare returns and take business from me.

Yeah, right!!!! Haha, still 8 pages.

Client brings in Feb 15, 2016 letter saying IRS has resolved an issue with his 2013 return and will be mailing him a check for $8.73 in two to three weeks. That's after amount applied to tax owed for 2014 $4.67. We didn't even know there was a 2013 overpayment or 2014 underpayment. Well, we didn't know there was a 2014 underpayment that small; his 2014 balance due was $98,201.

Well, he's gotta save some of that windfall for a rainy day.

He's bringing me half a Big Mac to celebrate. Sometime April to May. Counted it down.

I'd fix the return and e-file correctly; or if already e-filed, amend the return for free. If they already paid, I'd give them a gift certificate for free prep next season. If not paid, I'd waive this year's fee. Thank them for doing their job to make sure everything on their returns is complete and accurate. Remind them that you do your best with their help. There was only one perfect man, and we crucified him. Today's a good day to think about that.

Clients(New) brings there information in today, has all the deduction, and they have taken the standard for the last two years, then I ask what abut income, they did not bring there social security, brokerage statements and pension statements, they will go home and look for them, and they have paid for the last two years. What are they thinking of?????????????????????

A lawyer and a blonde woman are sitting next to each other on a long flight. The lawyer asks if she would like to play a fun game. The blonde is tired and just wants to take a nap, so she politely declines and tries to catch a few winks. The lawyer persists, that the game is a lot of fun. "I ask you a question, and if you don't know the answer, you pay me only $5; you ask me one, and if I don't know the answer, I will pay you $500." This catches the blonde's attention and, to keep him quiet, she agrees to play the game. The lawyer asks the first question: "What's the distance from the earth to the moon?" The blonde doesn't say a word, reaches in to her purse, pulls out a $5 bill, and hands it to the lawyer. Now, it's the blonde's turn. She asks the lawyer, "What goes up a hill with three legs, and comes down with four?" The lawyer uses his laptop, searches all references. He uses the Airphone; he searches the Net and even the Library of Congress. He sends e-mails to all the smart friends he knows, all to no avail. After a good hour of searching he finally gives up. He wakes up the blonde and hands her $500. The blonde takes the $500 and goes back to sleep. The lawyer is going nuts not knowing the answer. He wakes her up and asks, "Well, so what goes up a hill with three legs and comes down with four?" The blonde reaches into her purse, hands the lawyer $5 and goes back to sleep.

Client brings in Mar 21, 2016 letter saying IRS has resolved an issue with his 2013 return and will be mailing him a check for $2.77 in four to eight weeks. Whew. We didn't even know there was a problem. Dodged a bullet there.

Yeah, it really was an investment, Schedule D, DOD basis, make it easy on yourself.

Send me a private message and I will share with you my process. Too controversial to share in open forum... This has been working for me for 5 years.

I only e-file 1099's. I only electronically transfer W-2s. One main and overriding reason. ACKNOWLEDGMENT. If there is ever a question by the IRS, only electronic acknowledgment will be accepted as proof of filing. This also goes for extensions.

ATX said they'd charge us this year $1.50 per 1096 efiled. In early March they posted on their blog that they'd initiate the charges for those 1096 forms efiled through them; I have yet to see any charges on my credit card for that nor any other correspondence on it. IMO $1.50 per is a pittance in the grand scheme of things. Nelco charged me upward of $1.89 per W2 efiled with the State of Louisiana. Lynn

I have seen 1099-S where there are multiple owners but only one listed.

So jealous! And, drooling! Enjoy! You deserve them.

You love torture teasing us, don't you?

Here's another one. I had a highly educated individual ask me why the HRB software online was telling him that he used up his education credits and no longer qualified for them. Well, we both know he didn't repeat this exactly or didn't understand what it was telling him. I told him it was probably referring to the AOC credit as his doctorate work doesn't qualify for that particular credit. I also told him that if his income exceeded 130K then no tuition and fees deduction. That he laughed at so is he going to hire me??? Nope, gonna struggle this week to see if he can figure it out on his own. I told him that when he was ready to wave the surrender flag I would prepare his return for him. A doctorial candidate and using HRB free online software. Hmm so much for higher education.

No Rita, I am not smarter than you. This guy's mistakes are so obvious it doesn't take much to spot them. I just finished amending his 2014 where he claimed the wrong education credits and added in the qualified dividends with gross income. I just told him that "you just blew a hole in your foot and wallet by not knowing which education credit to claim". After a few more hints, he had me prepare the amendment. Same with these other folks return, the errors are obvious so the ball is in their court as to what they want me to do. I always tell them that I may find other things as I do prepare the return. Now it is their choice as to what they want me to do.

You might also request a copy of the member agreement. If she was told she had to invest and has no management decision input, there should be something in the member agreement. It might help support your position if you go the 8275 route.

Thank you for this. Judy can I think it would be a good idea to pin this thread with the others at the top of the forum.

http://strausslaw.com/do-you-have-an-out-of-state-trust-getting-your-refund-after-the-kimberly-rice-kaestner-case/ Catherine, here is a link for information regarding the Kimberly Rice case. It makes reference to a form to use while the case is under appeal. BHoffman stated form D407 and ittructions which are easy to find on the internet. The fiduciary is required to file the return and using form D407A looks like it would generate a tax due to NC. However, maybe using the general statute form in the article above may give your client some relief. Sorry there isn't any more information than this. I agree the DOR in NC will be clueless with this and is obviously no help to you.

Not recording the quit claim deed doesn't necessarily invalidate it, if in fact it ever existed. It could be that this man sold the property in their joint names and acted on her behalf with the POA. Perhaps that is why the 1099S is in error and shows only his name? Just guessing on that. Or it's also possible that the missing document is in the package from the day of settlement. I've had many clients stuff all the papers in those folders all together and then not be able to find them later.

Understand what you are saying, but given the complex nature of your subject, more detail is sometimes called for. To the question, I don't think you should be doubling the credit. Perhaps there is a box you missed checking? Or checked and shouldn't. With ATX, I've often found that they deal with complex issues with check boxes, and almost always, when a result does not make sense, or "feel right", I find the problem there. Let us know, please, if you find it there.

I wonder, if the IRS was allowed to have a policy of giving a one time "Directed No Change" to anyone who brings in such a return, where the deductions are clearly bogus, and agrees to testify at the preparer's trial, wouldn't that lead to a huge reduction in this sort of scam? Right now, the preparer plays the 'audit odds' game knowing that the clients, as co-conspirators in many cases, will not want to expose him/her. What do you think?

it takes about 4 or 5 years for them to understand when they have it all, it is not ALL, they always forget something. Some times I catch it on the intake most of the time not, because they are worried about the deductions

In Drake, you can enter a return as MFJ and label each income and expense item as Taxpayer or Spouse or Joint. You then hit the "split" icon on the top toolbar and the program will calculate the results for both methods. You can change to MFS at that point if you want to.

You'd think he would at least spring for a bottle of Wite Out. I hope he gets busted, too. It's a shame he hasn't already. Makes it hard on the rest of us that do professional work and have bills to pay. Even if we were filthy rich with no bills to pay, those crooks need to be put out of business. The lack of Wite Out, though. Wow.

I got in a new client who moved to the area, but wanted a CPA because the guy she went to in LA that her friends went to just didn't seem 'right'. And some of her friends got audited and the guy wouldn't help them. Now this girl is just out of school, and 2015 is only the third tax retune she's ever filed. On the 2014 return: $3000 of cash charitable contributions (she only donated a little bit to goodwill) lots of employee expenses, including auto insurance, auto payments (she's a nurse, doesn't drive for work) some licensing and courses she did give him receipts for, clothing, shoes under other misc itemized: the pension payment shown on her w2, the code DD medical insurance from the w2, $1000 in hobby expenses (no hobby income) and some more stuff. $35000 in itemized deductions in total and she really only has state income tax and her vehicle license fee because the lil bit of legit employee expenses don't exceed the 2% floor. Oh, oh, and the preparer name was stamped on the return over the 'self prepared' note that turbo tax puts on the bottom of the return , and instead of being signed there's another stamp with an initial. And the PTIN is a stamp too. She's going to bring me 2013 too. She wants to bust the guy. I hope he gets jail time.

I have two rooms I use as offices. One to meet clients in, and one to work in. One desk is clean and the other is under the pile somewhere.