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Correct, Thunderbird's an independent product now, but I think that's a good thing because it's getting more attention now than before.

I don't think you can claim a dependent in a foreign country unless the country is Mexico or Canada. However, you can file jointly with a spouse provided you report world wide income for you and the spouse. But that is just what I remember, and sometimes I remember rules from 30 years ago better than the ones from last season.

I used ATX in the days they were headquartered in Maine. Since this is an ATX board, I won't go into the issues of my departure - suffice it to say I do not like to change and would not have done so unless felt strongly. Many years have passed and I'm sure circumstances have moved on. However, I believe ATX is still form-based. For those of us old enough to remember what it was like to fill out the 1040 by hand, there is no comparison. Most of the other packages are questionnaire-based and not forms based. I believe this is the chief reason ATX customers have to spend less time on the phone than others. I am very happy with Drake, and don't wish to change. However, 75% of my time with their support is because I don't know what factors are causing a particular line item to read incorrectly. I must call and find out what needs to be changed because of a cause-and-effect relationship between the answer to some questionnaire and the tax line item. This would not be necessary if the software were forms-based. I have approached them about changing, but they have reasons to remain as they are. So if you are using ATX, you do have this advantage. For the record, you will find me quite adverse to the dumbing-down of the mind to reduce trained professionals to keypunch operators. Sit down - keypunch numbers into a software package - and [poof!!] out comes a tax return. And then print out a pre-determined invoice to charge the client for this service? Sorry - not as long as I'm alive and doing tax returns.

CCH will give you that exceptional tech support as "concierge customer care" with their Advantage package, all for the low, low price of $3,759. But wait, there's more...call in the next 10 minutes and we'll throw in...

Glad to hear it! I'm such a fan of Mozilla I never went to Chrome. I think it was the right choice.

he must terminate the election. Assuming the property has a mortgage then he has basis to deduct loses in an LLC. Not so with an S corp. even if he personally guarantees it. also if he is in for the long haul eventually he will refi. with an llc he just puts it in his pocket. with an S corp it must stay in the corp or taxes are due.

Another reason not to have elected the S status. I wish he would have asked me first. Ha.

Pacun, get on your state website where your client is. Might not be DC, but possibly MD or VA. There should be an IFTA reporting website online. You will need for each unit, miles driven in every state, and gallons purchased in every state. If there are many units, this could take some time. Miles per gallon will be calculated by the website for each unit (truck). Let the website do this, don't depend on the client to tell you how wonderful his mileage is. The website should divide the mileage by the MPG, to derive the gallons which should have been burned in each state. If you have purchased that many gallons or more in that state, you will be entitled to a credit. Credit is calculated by the fuel tax per gallon times the "excess" gallons. The reverse is true if the unit has not purchased enough gallons in a state where they have burned gallons. The IFTA charges you for those states. The net of all the charges and credits results in an excess charge that you have to pay, and if there is a net credit, you simply apply it to the next quarter. Some states (e.g. Indiana and Kentucky) have a surcharge that is not charged at the pump. The surcharge is built into the IFTA calculation such that if your truck travels through such a state, you are likely to have to pay extra. Drivers love to fill up in South Carolina, who has the lowest pump tax of any other state. They will drive across the line from Charlotte, NC and places in Georgia just to buy cheaper fuel. However, if they don't drive more than this in South Carolina, the calculation will result in a credit from SC and a whopping charge for GA or NC. It all works out.

David, You are confusing inside basis with outside basis. The partnership books would show that the partner has $400 basis per your example but the Partner as an individual (his 1040 tax return) only has a basis of $100. If the partners share of losses, as an example, was $400 loss he would have a zero basis as far as the partnership books was concerned but he could only deduct $100 loss on his 1040 and resulting personal basis therefore zero. Remember that in any organization other than a proprietorship there is always and inside basis and an outside (personal) basis. A partnership is complicated. lol

Idiot never learned about "stop, drop, and roll," did he?

Just once, I'd like to see a liar with pants, catch on fire...