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You honestly, genuinely and sincerely just made my day

$1650 x % of # of days of ownership in the year =~ $4.52. Do the special date allocation section of the k-1 input.

One of my business clients used a couple of different virtual receptionist companies, both in CT. He liked them both, and only moved back and forth to combat price increases. Eventually, they both raised prices to a level that he no longer found valuable. He now uses RingCentral to take messages, route calls, etc., and finds them worth the price.

Most states are reluctant to give up residents until they sever all ties and "stick the landing" in a new state as residents. If the boat is sailing around, IL might try to claim they are still IL residents, that they have not established residency in a different state. Document, document, document where they are, for how long, what ties they have to each state, where are their "treasures" stored/ photos, heirlooms, etc., where do they worship/go to doctors/vote. Read the residency requirements for each state they dock in. States do not coordinate their requirements. You may find that they can be residents of two states during overlapping time periods. This can be a big deal if taxation of retirement income is an issue for them.

Each state has its own residency requirements - most range between 30 and 90 days - primarily the assessment of part-year residency liabilities without necessarily becoming a permanent resident. My feeling (certainly not authoritative) would be their residency is the last established residency prior to becoming residence of another state. Confusing, but they start with IL, and if moored in OH long enough to meet OH residency on May 12, they are part-year residents of IL until May 12. If they are not moored in OH long enough to meet OH definitions, then move on to WI, and are there long enough to meet WI definitions on Jun 12, then they are IL PY residents until Jun 12th. If they are extremely mobile and never stay in any state long enough to be established as residents, then they are IL residents full-year. Most states are aggressive and skew their definitions to the maximum extent to assess revenue. However, I can't imagine any state being shrewd enough to capture these folks unless they register their boat or earn income in a given state. Registration requirements via days are most likely similar to residency requirements. Earning income is a dead giveaway, and if sufficiently large, will result in the taxpayer having to file a part-year or non-resident return. Associated with this question is a supreme court decision about taxing retirement income by a state when the source of the retirement is from another state. Can add complications to this situation.

Clients of mine have finally sold their home and purchased a boat as principal residence. For 2019 they will be at least part year IL residents, but what will their state of residence be after they move to the boat? I am assuming that they will NOT have a permanent mooring anywhere but simply sail from location to location emcompassing many states. Will residency be determined by PO Box, Drivers' Licenses, voters' registration, or number of days docked in each state? Boat qualifies as domicile with three bedrooms, two heads, and an extensive galley.

Yes, that's how I do it. 2 or 3 times, I've had the catch-22 where deducting SEHI qualifies you for a PTC, but then the PTC lowers the SEHI so much that it disqualifies you for the PTC. I just split the difference and call it a day. Never gotten any IRS notices over this.

They have to establish a state "residence" by where they vote, drivers licenses, where they get their mail, where vehicles, including the boat, are registered.

But then most states will give at least some credit for tax paid - on the same income - to another state. Who gets precedence is a whole 'nother can of worms!

Depends on the state. Best way is to establish domicile in a no-income-tax state.

Our group has been in McDowell County, WV; but I don't think I was there. My daughter (who started me doing ASP) has been in McDowell County. I've been repairing homes for ASP in TN, KY, VA, and WV. I was in Sullivan County, TN, a couple of years ago when hubby went along. This year, part of our group was in Johnson County, TN. The counties we serve have lots of churches and some of the finest people I have met. We always have a picnic, usually in a national or state park with great views, and invite the families we serve. And, a culture night that is frequently a local bluegrass band that gets us all up dancing. Part of this summer's group visited the Appalachian Folk School, Mountain City, TN, and danced to "Twist and Shout" performed by Toss the Possum. Jesse Lee ASP Group out of Ridgefield, CT, is the second largest ASP group in the country with nearly 300 volunteers each summer; so we're usually in 3-5 five different centers. This year we were in Washington and Johnson Counties in TN and Knox and Breathitt Counties KY.

Your software probably does the math for you, for at least one of the two methods; you might need to specify which method. Your software might produce a worksheet "showing its work," as they required of us in math classes. The first method is to continue the iterations until no more than a dollar apart. The second is to stop at three (?) iterations. It's a pain to proofread and a huge pain to explain to clients. Charge enough for this!

For those here that choose to not respond or not see another's posts, I'd suggest scrolling on by, sitting back from the keyboard, taking a break from the forum, or using the IGNORE function. There is no need to make a flounce-like public announcement of withholding answers in future, and stooping to the level of a personal attack on another member is totally unacceptable. Since Edsel seems to have reached a conclusion regarding his original question and the posts have turned to nastiness, I'm locking this one down. I'm sorry for the ugliness, Edsel. If you have any other questions, please feel free to post . . . . . . as long as it isn't politics.

If you ever get to Manchester, I'll meet you and buy y'all dinner. (But not your whole caravan). Manchester is a small town, but strategically located on I-24 halfway between Nashville and Chattanooga. It is the first town north of Monteagle mountain. Monteagle is the highest point on the route between Miami and Chicago. Living conditions in Appalachia, from WV to AL, have been well publicized on TV commentaries, particular those involving coal. Trust me when I say some of the finest people on earth live in these places. I go there often to play bluegrass music. The poverty is abundant if you're looking for it but there is so much more. And over the years, some of the portrayals of these horrible living conditions are coming from places considered to be enlightened, such as Detroit, Chicago, Newark NJ, etc. One example is McDowell County in West Virginia, the poorest per capita income county in the U.S. You can tell it just by driving through it. However, the story of Homer Hickam and the "Rocket Boys" (from the Jake Gyllenhaal movie "October Sky") was backdropped in that county because that was their residence. Another untold story about Homer's father - he was the inventor of the most current commonly used slender personal rescue device used in coal-mining accidents. And banks, who hold life-and-death power over so much in our economy, barely populate McDowell county - as fewer than 10% of the homes are held by a mortgage, also a low for U.S. counties. The people there are incredibly resourceful and independent. I realize this is a tax forum and not designed to be a social commentary - but I would love to meet you if you are traveling through. I think you are a great member of the forum and appreciate your posts from time to time.

Hey, Edsel, I do get to TN from time to time with Appalachia Service Project (as well as KY, NC, VA, and WV). We drive in "caravans" so don't get to deviate from our route, unfortunately. Beautiful state. But, appalling living conditions in Appalachia. I even have three TN clients, not in Appalachia.

What I have generally found is that excluding foreign income from US income (Form 2555) is generally, but not always, better than foreign tax credits (Form 1116) and back when there was no limitation on other income taxes, Sch A deduction of the foreign tax paid. Tax treaties need to be read, and the older ones are generally more straightforward (before the lawyers turned them into gobbledygook written in legalese). The forms are all relatively straightforward, but the US return does need to be calculated at least in the first two ways, in case you've run in to the oddball case (and they are never obvious) where 1116 works better than 2555.

It is 11:34 PM and I have spent all day fooling with this computer. I contacted my local isp tech who explained that new computers should be updated immediately as many times they have been on retailers shelves for months. I finally got this done with much prayer and a few unmentionable words. Sure enough the machine got to humming along. I then made another attempt to download Chrome. After a promising start it had stopped yet again. I left the download in place stuck as it was and typed in the Cortana search module Windows 10 has "Chrome will not download" and almost IMMEDIATELY the Chrome browser popped into place. Do you suppose Abby Microsoft had anything to do with this? I activated my existing account and all is well and I am now ready to face the 2020 tax season. I have survived yet another Microsoft OS learning misery.

It sounds like Mom held a life estate in the property as the daughter did not receive the property until Mom's death. Based on "Pursuant to ' 2036(a) of the IRC, the transfer of a residence with a retained life estate permits the transferee of the residence to receive a full step up in his or her cost basis in the premises upon the death of the transferor, to its fair market value on the transferor's date of death. This occurs because the residence is includible in the gross taxable estate of the transferor upon his or her demise. This, of course, presumes the existence of an estate tax upon the death of the transferor. A "life estate", pursuant to IRC ' 2036(a), is the possession or enjoyment of, or a right to the income from the property or the right either alone or in conjunction with another to designate the persons who shall posses or enjoy the property or income thereof." I believe the property receives a full step-up in basis upon Mom's death.

I would have the clients find out what their sales tax obligation is in each state for the boat. NYS Sales Tax loves when they can spot an out of state license plate registration on a boat docked in NYS to pick up use tax.