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Showing content with the highest reputation on 05/04/2018 in all areas
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Pacun, a wash sale occurs when you sell a stock at a loss and repurchase it within 30 days + or - If you replace the stock with a similar one after a loss the loss is allowed and the basis of the similar stock is its purchase price.3 points
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People should always die owing money. So much easier. If someone calls for a single decedent or close to death client who was making estimated payments, I always advise them to not pay any more estimated, in the hopes the decedent will owe and we can efile.3 points
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I hope that our Louisiana residents are far from the chemical plant fire in Duson!2 points
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That's called a 'durable' power of attorney.2 points
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They also expire with a person's incapacity *unless* they are specifically written to cover that contingency.2 points
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POA's are worthless for everything to everyone when the person dies. POA's die with the person.2 points
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ATX has a drop down at the top for donees, but only if the client had an 8283 last year. We keep suggesting a payer database for this form along with 2441 and colleges on 1098-T. Maybe one day!2 points
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I am in the New Orleans area, so far removed from Dustin. Thanks, CATHERINE1 point
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A wash sale occurs if the security is sold at a loss and the purchase of substantially identical security occurs within 30 days of the sale, either BEFORE OR AFTER the sale. This is why we see wash sales that occur with any mutual funds or drip plans that are sold at a loss during that 30 day period after dividends are reinvested.1 point
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Pleasantly surprised. I efiled these returns after lunch and they have been accepted. Now I can wait and see if the direct deposit instructions are followed ?1 point
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I really appreciate all the support, at first I was thinking I had to prepare one for each year Also a big thank you to Eric, I just notice all the emoji's I might be making history here by being the first person to post new and improved emoji's1 point
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B. Jani Nope sadly that doesn't work in this situation. I appreciate the effort all have put into this problem.1 point
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It's more tedious than terrible. Don't forget the second copy that gets mailed to... where is it -Ogden or Kansas? Somewhere - it's in the instructions. I just did one earlier this week for a new client where the previous person (who charged a ridiculously high price, IMHO) messed up depreciation on a rental unit.1 point
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The TCJA did not change the wash sale rules.1 point
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I don't think there is any connection between the two ?1 point
