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If you write For Deposit Only on the back of a check, most tellers will let it slide (not notice) with a roughly similar name or if they had a joint account. It's exceptionally common for people to find out years later that there was a small balance somewhere. They aren't going to open an estate for $300 so they just deposit the funds into a bank account that is "similar". Had a client with one like that and he kept telling me tellers refused to deposit the funds. Turns out he felt it was important to tell the entire story to each teller before attempting to deposit the check. I mentioned it might work if he just shut up and about an hour later he calls to tell me it sailed through.

They're both sec 1250 property, but you have to separate them because the building is depreciable property and the land is not.

Building and land are both 1250.

Last week I called on behalf of business client, agent was telling me they have a new phone systems and he couldn’t figure out how to put people on hold lol, so put phone down while the POA arrived via fax, but he accidentally hung up, I called back and I swear that he answered again but he said it wasn’t him, he even gave me the same fax number again.

I have never entered the 1099 K information on a return. I just use it to double check against the clients total sales for reasonableness.

Just enter directly on Sch C and skip the 1099 input. Using those 1099 input forms is a waste of time.

You can't transfer withholding. It can only go to the person, but you can't file a return for the deceased now because the SS# has likely been locked. The bank has to handle this. And the estate will not pay taxes if the income was distributed, as it apparently was.

SCorp client sold equipment that had previous section 179. Big 1245 gain. I can apply this gain to QBI for the deduction, right? All other issues allow the deduction (wages, income, etc)

It doesn't matter what software you use, land and buildings go in different places on the 4797.

With the return that needs to be amended open, go to the Returns menu option and select Amend Return, it will then duplicate the return and put the word "(Amended)" in the name. You can now save this new return, and complete as you need to complete Here is the ATX knowledge base on this https://support.cch.com/sfs/solution/000050876

It should, because it is ordinary income and that qualifies.

Well, if I know already it's a MFS situation, or if they're going to fight over who paid what, I'd file separate extensions and have the spouses send (or initiate online) separate payments. The extension is an extension to file, not an extension to pay, so I'd encourage them to pay what they owe by 4/15/19. I think IRS will credit the taxpayer (as opposed to the spouse) if spouse sends an estimated payment or extension payment on a "joint" voucher. Pretty sure.

Is this what you need? https://www.irs.gov/pub/irs-access/f8855_accessible.pdf

AHHH Bingo!!! Sch C is in her name but the 1099 K came in his. I put it in hers and it magically appeared! Thanks!

I know this is probably the first thing you checked, but are the 1099-k and the schedule C both coded to the same spouse if a joint return?

DANRVAN, I agree. There was always the intent to rent the first floor apartment. And I have resolved all figures and am happy with the results. What is distressing now (always something!), in Fixed Assets, one can choose only one state for situs and these folks have a rental in KY and now in OH. KB was no help and I just posted a query to communities. There was something about adjusting on one of the state returns but I've no clue how to do that. Arrgh!

Thanks! I agree that the bank should not have issued anything to a dead person. I'm afraid now that other stuff might come out now that has not been handled. I just want the withholding transferred to an estate number. They are supposed to be checking for one.

No, but I don't need them quitting their jobs and moving back in with me!