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hmmmm....big box....how exciting. Oh look - the 2017 deluxe version of "the Tax Book". (got that last year.) And 2018 version of the State Tax Handbook. (Also got that last year.) And the 2019 Master Tax Guide. Well, at least 1 thing I can use. Do they just send a kid into the inventory room and tell them to clean off the shelves?

Thanks for replies. There will be no need now. The beneficiaries will make their own estimated tax payments. There was a question of one beneficiary wanting the estate to pay the tax but he's ok with making his own payment. Whew.

Happy New Year! Let's hope 2019 brings all of us nothing but the very best!

Because this update is going to disable local admin accounts. https://mspoweruser.com/new-windows-10-october-2018-update-issue-will-disable-your-local-administrator-account/amp/?__twitter_impression=true

Trying to get them ready but I don't like to send them too early. I want them to get there before they get all their paperwork and have a chance to lose it, but not early enough that they put the organizer away never to be found. It is a guessing game.

End of this week. Use most of the short form's pages but the Questions from the comprehensive Organizer to create a hybrid for clients; inflates this week's prep time but cuts down followup questions later. Not too few clients skip everything but the questions, engagement letter and basic info. [Btw, eternally grateful to Abby Normal for recommending Nuance PDF and its auto-filling facilitator.]

Happy New Year to everyone - and I hope we all have a smooth tax season! Good Luck to all!

No, it goes on 8949 and there are two codes you'll need: one for expense of sale (E) and one for the exclusion amount of gain (H). And they must be entered alphabetically. If it's not a gain then just use the other code (O). https://www.irs.gov/instructions/i8949#idm140253094361072

83 year old mother - file a return. Enter the 1099 as a sale on your schedule D and use a cost basis of the amount of the sale up to the exclusion portion.

Just be sure you ask the questions regarding length of residence and ownership, etc. Then what cbslee said.

Even if a trailer is personal property, it still is a residence. Options: 1. What I have always done if I am filing a return anyway is to report the sale and claim the exclusion in order to avoid a potential IRS letter and the panic call from the client. 2. Don't report and deal with the IRS letter when and if it happens. Just explain the choices to your client and make an informed decision together.

I'd love to send mine out today, but I can't get Engagement Letters yet unless I roll all my clients over one by one. The batch rollover in Drake will be available this week... they're late, probably due to the huge tax law changes. In prior years we've had everything printed out, envelopes stuffed, ready to pop in the mailbox on the first business day of the year. Not this year, though - so we have our checklist and general letter printed and ready, and mailing labels ready. As soon as we get batch rollover out they go! Then we'll start on payroll client W2s and business client 1099s. It begins! God help us all.

Another thing I failed to mention regarding 1099 Express is the reasonableness of their fee for doing the mailing of the 1099 to vendors. They only charge $1.35 per form, which INCLUDES the 50 cents postage. So that's a net rate of 85 cents per form to collate, fold, stuff envelopes, etc. Most prices I've seen are in the range of $3.00 per form and up. That per-form price goes down slightly as volume goes up.

Mail both to KC. It is the current address. https://www.irs.gov/filing/where-to-file-forms-beginning-with-the-number-7 The IRS frequently changes mailing addresses. Mailing it to an old address will only delay processing.

I disagree. The person creating the K-1 has to indicate to the partner/shareholder/REIT owner how much of the income generated is from QBI sources. It is reported on the K-1 on lines 20/17/14 (I am not sure of the exact line numbers) to be input onto the K-1 worksheet of the final personal tax return. When preparing the personal tax return we must include all forms of QBI, including Schedule C (if any), to determine the final amount of QBI, subject to taxable income limitations.