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https://www.irs.gov/newsroom/irs-reminds-tax-professionals-of-tasks-to-get-ready-for-2020 Quite an informative list....

This morning I have been watching the squirrels and blue jays scrambling to see who can grab the most peanuts. Good preparation for tax season

Condolences to his family and friends. May he rest in peace.

Ditto to all that has been said. I still remember talking to him, it was like talking to a best friend.

That was a great organization with with outstanding people. RIP William. Thank you for the post Kerry.

I am so sorry to hear this. William helped me out many times when ATX was in Carabou. Thank you for letting us know.

A real loss. Sorry to hear that. Tom Modesto, CA

Thank you for sharing the sad news. I admired William. And, I remember you, too. You two go back to the days of great customer service from Caribou.

I'm sorry to hear this and I, too, remember him and his generosity in helping many of us. Thank you for letting us know and posting about the fundraiser.

I had many a phone conversation with him as he always went the extra distance when issues came up. I have missed him greatly ever since ATX was bought out. Truly sad to hear of his passing. Deborah

Oh, this is sad news, indeed. He was such a wonderful person providing true technical and customer support. I had the great fortune of talking with him at least twice. Thank you for keeping us apprised and providing a way to help remember him. I hope you are continuing good work and helping others as you learned from him. Many of us here certainly hold him and you and so many other original ATX folks in very high esteem. One barbeque dinner wasn't enough to thank you all!

I remember William, especially his proactive responses to any and all issues. May he rest in peace, a truly good human being.

Cider Aftermath............

My first thought, on seeing the topic and intro, was joy to hear from Kerry/Monkeyman and to hear about William Tasker. That quickly turned to sorrow on hearing the sad news. He was a wonderful man, and has been greatly missed by us ATX users. Now he will be even more missed. Thank you, Kerry, for letting us know the news. And pop in here from time to time yourself, and say hello. We have happy memories of you, as well, and you should know we stand as your friends still.

I also remember William as one of the best employees ATX had. My heart and prayers go to his family. His help and kindness was a joy.

Hello Everyone, This is Kerry, who a million years ago worked at ATX in Caribou Maine. I will keep this short. I wanted to let you all know that William Tasker passed away recently. For those of you that remember him, he was a great man who shaped a lot of us younger folks' lives in the early 2000's. He taught me how to be professional and what that actually meant. I still carry many of the tools he passed along to me. A GoFundMe has been set up for him by my friend Brian and can be found here: https://www.gofundme.com/f/william-takser It will help his Wife handle any of the expenses that may occur. I hope all of you are well! Kerry - a.k.a. "Monkeyman"

This is truly heartbreaking news. He was such a kind soul. Prayers to his family and friends

I hope that isn't chocolate for the weiner dogs! Chocolate is poison to them. Perhaps they are having hot cider, instead.

It depends on the facts and circumstances, it could be a reduction in basis or it could be a capital gain.

I do all my 1099's in ATX. Order the forms from Costco. Tom Modesto, CA

Thanks to all for your help!

And, Judy's and Dan's great explanations will help you track that $1M from a worksheet (and any other items on that worksheet, if any) to Sch D Line 19. You're not increasing the income, but you are breaking out part of the income for potentially different tax treatment.

Thank you. this is what I wanted to clarify. Total income beig reported, not $4M.

That is correct Judy. Section 1015 applies so basis for gain and basis for loss must be tracked separately. That task can be made simple with a spreadsheet.

SaraEA, your response makes perfect sense but remember we are dealing with the IRS. Ditto to what Jack said. I have had the same thing so just checking the box doesn't always work