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Right about now, we could all use 2 1/2 minutes of remembering how much fun we are having.

QBO is dreck.

This is my own personal experience.

This person made a video of the issues he was having with QBO, now enjoy:

The list is too long to post, but I will say that everything takes 4x as long to do and the reports SUCK!

My granddaughter just asked me why I do this for a living. I didn't have any good answers left. I remember it sounded like a good idea when I was explaining to my dad why I was switching career paths and colleges right before my freshman year began. (It was actually over a boy.) Very dumb!

Me, too! (Especially the little girl who complains about "the xml we've given them like SEVEN times already!")

Hear, hear! I agree that QuickBooks is a ROYAL pain in the patootie. However, if you ever work with the online version, you will KISS your computer when you go back to the desktop version. I loathe, detest, and abhor the online version. We refuse any new clients using QBO, and are working to get our remaining online clients onto a desktop version. Even the Apple version of QB is better than QBO!

We find these sometimes more complex than C-corp returns, because of basis tracking and multiple shareholders plus their health insurance (frequently done wrong). For a new client, $1200 minimum. We will discount from there if need be - sometimes very heavily - but always show the full price on the bill, then the discount. If we are doing the personal returns we discount (package pricing). If their accounting is ready to go (reports ready to use as-is, maybe tease out shareholder health insurance from employee, and of course add in depreciation) that also gets people an excellent discount. If we get a train-wreck, then they pay bookkeeping fees for QB repair on top of that return fee.

If you don't ask for the sale... While my situation is different, I do ask, several times, if someone is late in ordering. Every message has instructions for opting out I also send out order messages in batches, to somewhat control the number which come in at the same time. I can also send reminders based on the date of prior order if needed. Example: First reminders to customers who regularly order early. Next batch to those who sometimes order early, but are usually in the second wave. Next to those who order at the last minute.

I see myself in all the kids.

I agree with the others that the agency will give credit for the estimated payments. It should be the same for the state too, if you missed entering state or local estimated payments. In your case, the only reason I'd amend for the missing estimates is if there were state or local estimated payments also not entered and the client would benefit by claiming these additional payments as itemized deductions.

I am so fed up with quickbooks and their stupid passwords. Then if you click on forget password and enter you license, it says that it still can't change password because you have recently changed the password. Unbelievable. I HATE QUICKBOOKS

You and Lion are correct. Mother got 1/2 step up on basis at Father's death in 2011. OP says Mother qualifies for 121; but daughter will have long-term capital gain for her share.

Too many people use (or misuse) QB. I surrendered years ago and dropped Peachtree, only have QB now.

Hate them but can't work without them. I so wish someone else would come up another program. I just got my payroll renewal. 615.00

The password requirements on Quickbooks was forced upon them by the IRS or another federal agency. If you have any banking account information in the program, you are required to have passwords to protect it from someone accessing it.

Amen to this!!!! I been working with QB since 95-96 and it's my go to software to recommend to clients.

Report the income on the estate income return, yes. But then ALSO add in "repayment of over-paid pension" as a correction. The estate should not be paying tax on income that was repaid. I could tell you where to enter that in Drake, but someone else will have to provide that detail for ATX. If it comes out a wash ($0 total) then lower the repayment by $1 ($1 more income). In general, as long as there is taxable income generated, the detail information does transmit. It's when the total comes out to zero that the details get left behind.

Having said my minimum is $175, I do one 1120S for $750 and it's pretty easy also. I do some accounting work which I also charge $750.

Dan, thank you. Of course you are correct because the mother permanently moved out and gave up the life estate. Fwiw, for anyone else following this post, I found a good article that discusses life estate issues and when step up occurs and when it would not. This same article was also published by NY State Society of CPAs in 2017, so I'm assuming that the attorney authored it about that same time. The pertinent section starts at subtitle (b) "Transfer of the Residence with the Reservation of a Life Estate" https://www.esslawfirm.com/articles/factors-to-consider-when-transfering-a-residence-for-elder-law-and-estate-planning-purposes-a-primer/

Revenue rulings and tax courts have held that there is not a completed gift while donor parent lives in house rent free and assumes rights and burdens of ownership. As I follow the time line of this post, father died while mother was still living in house. At that point there was not a completed gift so mother get's one half step up in basis. Then it appears mother moves out, daughter takes legal ownership of house and sales the house in her name. At that point, it appears gift to daughter is completed so mother's basis becomes daughter's basis. If that is the case daughter would also get the 1/2 step up in basis.

The IRS hasn't decided whether or not to allow the excess deductions yet. I think it's best to continue entering the expenses in the event they eventually get moved to the not 2% area. I did that last year with PMI even though the deduction had expired. This year when I encounter a client with PMI I check last year's return to see if an amendment is in order. So far I identified just one, the others still wouldn't meet the higher standard deduction. The IRS hasn't updated the 2018 software yet, the software companies can't until the IRS does, and we don't do prior year amendments during tax season anyway. At least the numbers are in there. I'm doing the same with the 2% deductions on the 1041.

I guess no one has worked with the online version yet.

Never mind. I figured it out. I was putting the EIN in the Service Provider/Acct No. box instead of FEIN above it! So used to it being there on a 1099R, I guess. How stupid. I discovered this when I read another post on this Forum about single-clicking on the error. I had been double-clicking and it was taking me to an unrelated worksheet!

Leave it to Intuit to keep giving us maddening programs.

The Sch A instructions say only what's listed can be deducted and it doesn't mention excess expenses from a trust or estate. It says to see pub 529.

There may be a place within the program to tell it to not carry that amount to line 16, because I think the instructions for 1041 still say this is a deduction and to enter it. Back in 2018 the IRS came out with notice 2018-61 that tried to address the issue to which the AICPA wrote a letter requesting that IRS and Treasury issue regulations as additional guidance. To date, as far as I am aware, the IRS and Treasury have not responded or issued any further guidance. Tom, I was thinking of you too as I respond to this topic. Sorry to not be able to provide more definitive answers. https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/20181031-comment-letter-on-notice-2018-61.pdf https://www.irs.gov/pub/irs-drop/n-18-61.pdf https://www.law.cornell.edu/cfr/text/26/1.642(h)-2

Wow, I've never encountered that. Sorry for your troubles! We keep a spreadsheet with all our QB passwords.

That's right. Don't do anything. The IRS always adjusts for payments not reported, or for payments reported and not made.

Vanguard actually warns people that their 1099R will show the full distribution and that they should make a copy of the check (which is sent to the taxpayer but made out to the charity).

I spun off all my businesses a few years ago when my part-time CPA and friend retired. I didn't want to pick up the bookkeeping and payrolls or returns. And one of my bigger folks emailed me about 10 minutes ago. They have moved over the years to 3 different states and stuck with me. She's a pretty well paid doctor with a musician husband who was stay at home dad. I'm very happy to hear from her!

I wait until after biz returns, usually end of March, to email them if they want me to e-file extensions.

The parent received their refund in the same time frame as a normal paper filed return. The child's return I don't know because they didn't get a refund or pay anything different on the amended return and they received the refund from the e-filed return also in normal time.

Please take a moment and read what the CDC recommends for business and employers: https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html

personally I would amend son return now and paper file parent now with claiming the son. I have done that in the past with no problem. Amended returns turns take so much time to process. I would not file without son then amend with son. I won't file a return I know is wrong.

The sale of principal residence is on the 8949. Sch D is little more than a summary these days.

Hard to blame us. Seminars tend to scare the crap of out us lately.