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The portal is a way to safely exchange information. Yes it works in both directions. It also allows you to send for example a news letter to everyone you have set up on the portal at one time. When I got set up I was a given a very brief tutorial and help in getting it set up however there are many videos available that I'm sure we teach me more of what's available I just haven' had time to watch them. My move came on 1/27/18 so my only concern at that time was giving my clients an easy way to send me their stuff so I set it up on the fly. I hope after the dust settles to dig into it deeper and see what else I can do with it. There are options to customize it and I would like to check that out as well. You cannot sign thru it. The clint would have to printout the signature pages, sign it and then upload it back, but it's not that difficult. My clients who used it loved it. It's very similar to financing or refinancing a mortgage. When we bought our home in November everything was done thru a portal, I loved it!

Started with this year and I love it. The only con would be no provsion for electronic signature. Client still has to print out, sign and upload back. Cost is a bit expensive, it's around $550 but I moved to another city right at the start of tax season and honestly feel those I got to use it I will keep inspite of the move. Compared to my mailing costs this year due to the move I can see where I could recoup the cost easily if I can get more to use it. In fact if I could get more to use it I wouldn' have to commute 2 1/2 Yes each way so I would recoup the cost rapidly. Going to really push it this next year locking my price for all who do and raising for all who still want me to come to them. Hopefully that would move more. Works well with all file formats but for some reason if someone sent me a word document I couldn' open it. Other than that it is a matter of either scanning or taking a picture then uploading it. Real simple to use.

https://www.jklasser.com/news/when-are-foster-care-payments-tax-free/ Got it here; thanks anyway. The quoted rates were wrong (thought that $50 - a partial month - was a bit light); per DHS it's $300-400-500 depending on age. All's well that ends well. Those old yellow book guys and TurboTax are gettin' about as good as CCH.

Normal foster care payments aren't taxable if they fall under the 3 criteria of sec 131. You could try researching "difficulty of care" payments to see if these payments fall into that category. Also, google for "Notice 2014-7" or search for it directly on the IRS site. Sorry, I'm on my tablet and can't get a link without it downloading the doc itself.

Hello. Sorry to be a dunderbrain, but are we really having a 'gathering' this summer, or is that a long-standing joke? OR . . . is it invitation only, which would be completely understandable. I don't want to show up and end up as fertilizer. Cheers!

https://www.irs.gov/e-file-providers/electronic-signature-guidance-for-forms-8878-and-8879 It seems doubtful that many of the esign options fully comply with IRS standards. But how 'verified' is a handwritten signature on a form we emailed or sent thru a portal to a client.

For signatures, @Tax Prep by Deb (and others) look at CPaperless' product "Signature Flow" - they charge per-signature ONLY. So if you need one signature it's a buck or two and that's all you pay. Some e-signature programs charge a hefty monthly fee - maybe fine if you get them all the time. But when I use a dozen in a tax season, the per-sig fee is definitely the way to go!

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.

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.

Yikes, so any override on Sch A is not included in the totals. Can we get a red error, ATX?

I absolutely hate 8283's. Same old information over and over again. Clothing & HH Goods. I note a previous post from JohnH saying he set up master forms for these, but he uses Drake. ATX has input worksheets. Do any of you use a master form for these? Or combine receipts to the same donee institution into one entry? I usually do and just type in "XX trips." I recently got a return done by a CPA and he input every single receipt separately which meant 4 individual 8283 schedules.

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!

B. Jani Nope sadly that doesn't work in this situation. I appreciate the effort all have put into this problem.

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.

ATX used to roll over on 8283 and had a lot more useful features prior to 2012.

I agree do the 3115.

The 3115 can be a bit daunting at first glance, but it is not as bad as it looks. You got this!

It hurts me to type "IRS adjusted numbers". I feel your pain....................

Amending the prior returns (via the previous preparer) is NOT the right way to do this. Do the form 3115 . Just . do . it .......

Got my first letter where Sch A did not calculate properly. I did an override on real estate tax, line 6. Line 9 was correct, but the amount on line 6 didn't make it to line 29. Thankfully, this is a great client. He was very gracious about it, mentioned he bought hearing aides that he forgot to tell me about. I will amend his return free gratis to show the additional medical expense, using the IRS adjusted numbers. It hurts me to type "IRS adjusted numbers". I think I'll have to leave early and regroup. #H8Form8283AndIRSAdjustedNumbers

Does ATX really make you fill in all that info? Good grief. I hate 8283 as much as anyone, but UT goes a lot easier on users. The type of organization defaults to 50%, no property type or contribution limit questions (repetitive question), no question about goods or services received, no checkboxes about the organization and type of gain, and no entry for condition. How would you even know that? Half of the receipts I see don't even list an amount and none has ever shown condition (well, once and awhile someone lists "new"). There is a box for donor's cost but it doesn't have to be filled. I think ATX is really overdoing it and torturing users. In a National Research Program line-by-line audit I recently completed, the auditor disallowed ALL cash contribs because of lack of documentation that followed the law but didn't say a word about a lot of Goodwill donations. The clients had only skimpy lists written on the receipts, but I guess the substantiation requirements in the code and regs are not spelled out so auditor just accepted the amounts. What a racket. Hopefully our 8283 angst will dissipate now that fewer people will itemize.

I also lump together all Goodwill. Ditto for Epilepsy Foundation, Big Brother/Big Sister, and some of the others that are common around here.

Yes, Form 3115 is required. It's a royal PITA - but FAR better than amending all those returns and having late payment penalties. I don't recall about the four-year spread - but if not, an installment plan does almost the same thing.

Yes, pictures please!

I too would love to attend but will be spending that day at an orientation for my son's University in Virginia. Please post some pictures and have a terrific time!

Classic example of when to use a 3115 to correct the depreciation expense claimed. Since this will increase tax due,I believe you still get a 4 year spread forward to pay any additional tax.

I can round up a couple cousins that will not only let you co-sign, but make you feel good about it. One is married to a guy who wears muscle shirts all year and I am thinking about getting him sleeves for Thanksgiving. Or barbells. C'mon, Bart. We are twins.

June 23rd in middle TN. Hope to see you then!

I am still digging my way out from under work, plus the managing of my parents' estates. But I have a reservation in Gatlinburg, which I think gets me to within driving distance (not as short a distance as I would like, but doable) so I am planning to be there if at all possible.

I'm a fan of macros/scripts. I have AutoHotkey running all the time and have used it for macros in ATX, but if I had 4 or 5 different locations for Goodwill, I would still lump them into one Goodwill donation. Our rules is if there are more than 5 donees, the 5th one is listed as a donee "& others". Our reasoning is if it doesn't change the tax and it would survive an audit, it's a waste of time to do.

We each must use whatever the software provides us, but I give Drake a huge edge on this feature (as well as many others). I write a macro for the 8283 one time, then any time I want to produce the form, its runs with a single keystroke. Once the macro is written, I just modify the name and address info for the next one, so I wind up with a separate macro for Goodwill, a different one for KF, another one for Community Foundation, etc. This helps considerably because I see Goodwill receipts from 4 or 5 different locations. I have to keep a cross reference for the macros, but that's just a matter of filling in cells in a spreadsheet and printing it out each time it's updated. I'd like to buy everything from my clients for what it's actually worth and sell it back to them for what they think it's worth. Wish there was a macro or master form to set THAT process into motion.

I don't use ATX. I have a check box to pro forma to next year. So, the clients that take in boxes and bags of stuff each month, have 12 forms that roll over for me. Very little typing after that first year. And, I can duplicate forms in the current year, a huge help if they always give to Goodwill or whichever charity. I probably have a "master form" method, but the check-the-box method makes it really fast for me. I still need to charge more, due to "education" time. This year EVERY client received a FMV Guide.

Love the master form, H8 the 8283.

In master forms I added 4 records for a total of 5 and customized each record as shown below. You have to restore the FMV field when you're done, but that was the only way I could get the 'Were goods or services exchanged...' question to appear. I guess the programmers think they're doing us a favor by making parts of the forms hidden until we make entries, but I hate it!

I couldn't buy the amount of clothing my clients give away every year. And if my "Misc Household" stuff was worth what they are claiming, I'd KEEP it. Oh how I wish this was gone. Love the "H8 8283 Club!"

Welcome to the H8 8283 club. One of the biggest PIA's in prepping TR's. This was brought up her about a month ago. Some preparers including myself will lump several of the receipts from the same institution together. If the IRS wanted to crack down on this, they would probably throw out 90% of the claims. I have been in some of the thrift stores and the selling prices are much lower than most people are claiming.

I can add that! I could do it in a Jeopardy! format just for laughs!

@Abby Normal, you have to do a seminar on ATX tips and tricks. And give us all a certificate of completion. How else are we going to write this off? That is a lot of business miles I can rack up from CA to TN and back. Tom Modesto, CA

We haven't made any reservations yet but we're really looking forward to it. I've made a few notes about ATX letters, but I have a lot more work to do to fill the 3 hours Jack has alloted. If I went on for 3 hours, you'd all be so drunk you'd start throwing things at me.

Rich: The instigator of all this..... will be traveling Toronto. So... I think I will not be bringing the Crab Cakes I promised. Rich

I am very disappointed that I cannot make the party due to other obligations. I do love a party, especially one with all of you. Looking forward to hearing all about it and wishing everyone a great time, Rita will make sure of that. I will be with you in heart and spirit. Bill PS. If possible, I would like a 5x7 for my desk of Rita on her tractor with her million dollar smile after taking care of a special client.

I am working every angle I can to get there with my spouse. But, I lost my day job and it will totally depend on if I get hired somewhere after we get back from our London vacation. Really hoping I don't have a job until July...or August...or later. I am enjoying the unemployed life. My backyard is becoming fabulous, all the to-do's around the house are getting done, and I have time to work on tax issues without any pressure. I could get used to this. Anyway, I have never driven across the country, so I am really excited to drive from CA to TN. I have a sister in southern OH, so I will stop by and see her too. But being away from the house for 2 weeks is a stretch for the spouse. I guess that means I am a maybe. Tom Modesto, CA

You betcha!

Does the venue have quality Wifi? I will be toting my laptop and we can facetime or Facebook video chat, or several other ways to let people be there that can't be in person. Think "Big Bang Theory". Maybe even possibly stream some of it live... It is just the life-long geek coming out in me....

I would love to see Rita's back 40, I have a couple that need a hug right now. Sorry I can't be there.

Total Turtle Poop! That is the one day in June that I cannot be in TN. I am Treasurer of my Church, and we are paying a consultant for a retreat to be held that day to deal with some transition and search committee issues. Have so much fun! I would have loved to join you. Perhaps it will go so well that you'll all agree we should do something again next summer. You are all welcome in KS.

...Good Thinking Rita Also...I like your makeup...Cute

Yes, it's for real, and I'm hosting. No need to bring anything, but I do need a count. If you're not sure, a "maybe" is fine. June 23 in middle TN. Anybody interested please message me for directions!

It better be real, because I've made reservations already!