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...................... ..............................................................................................................Happy Autumn Friends.....

I don't have a birthday in Autumn, but I still love the cool nights, crisp breezes and beautiful colors of fall.

The UPE is deducted on his Schedule E page 2 on his form 1040 and appears nowhere on the partnership tax return or his K1 from the partnership. The UPE must be shown as a separate line item on the Schedule E page 2. I'm not sure what limits the amount of UPE other than perhaps the usual issues: partner's basis, amount at risk, etc. in the event that the whole transaction (K1 income - UPE expenses) results in a loss.

I am looking forward to the mad rush of everyone wanting to file ASAP, because we've all been told to beat the hackers. I may very well lose business, because I just can't work that fast. I definitely can't get the larger returns out of here.

Love fall - hate picking up the leaves. One of the reasons we are beginning the process of moving to a condo.

I just *love* scuffing through leaves when I walk. Autumn is my favorite. It also includes my birthday, which might have something to do with it.

Ask all your clients who receive K-1s from a partnership to give you a copy of their partnership agreement. You can learn some interesting things! (I had some guys who called themselves partners, but it was a C-corp!)

Read the partnership agreement.

Well then Catherine, In case I miss it.......

An excerpt from an long article by Bloomberg News: "In early March, they said, Equifax began notifying a small number of outsiders and banking customers that it had suffered a breach and was bringing in a security firm to help investigate. The company's outside counsel, Atlanta-based law firm King & Spalding, first engaged Mandiant at about that time. While it's not clear how long the Mandiant and Equifax security teams conducted that probe, one person said there are indications it began to wrap up in May. Equifax has yet to disclose that March breach to the public " Now it turns out that the same intruders hacked Equifax back in March and they never disclosed or acknowledged the hack. In addition they chose not to implement the software patch that they knew would fix the problem. This company deserves the death sentence !

Just got off the phone with my long time ATX Sales Rep, where he told me that staff has repeatedly asked ATX top management to communicate with ATX users with a detailed response addressing all the problems that users had during this past tax season and specifically what is going to be done to fix those problems. According to my long time Sales Rep, "Nothing has happened." Which is exactly why I decided not to renew with ATX !