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In case anyone thinks we never learn anything on this forum....

all this said - show me a farmer that actually make a profit (who's last name isn't Koch).................. And no farmer who's trying to start out can possibly give up a full time job to become a full time farmer. Equipment and taxes (I'm in NY) will eat you alive. And to give it a true go, it takes a few years. You don't grow and profit on tomatoes overnight.

She sent me a picture of the check and envelope. Something grabbed the envelope, poking a hole and scraping the envelope. The check is barely damaged; however, for the amount $544, the fours are scrapped and faint but the 5 is missing, just a hole! She opened up an account on the FTB site to report it. I think she's going to have to wait for a replacement check. Unless the 5 is like a hanging chad that she can push through from the back and tape from the back. But, I think the 5 is just gone. If it were a check from you or me, we would have to write out the amount in words. But, the FTB has numbers only, and the most important number is missing.

Interesting. I am inclined to throw my lot in with the group who is arguing constructive receipt. What is not included in the details here is ....was the annuity the only asset to go into the Trust? Was this something that was in an RLT, for instance, when the mother was living? IMO, the Trust might have existed at death, but was not FUNDED until the monies went into the bank account, so that is the date the trust started for tax purposes. Prior to that it had no income unless there is information we don't have here, and no tax would have been due. However, as someone said above, if no distributions have been made YET, then the proceeds are reportable by the trust and taxes are due to be paid by it. Electing Sect 663 would have only extended the date for distribution until 65 days after 2019. DANVRAN asks what is the difference between reporting it in 2016 or 2019. A heck of a lot of interest and penalties, that's what. What is the reasoning for the funds not being disbursed at this point? Are all these legal expenses incurred going to be paid and deducted by the trust? Doesn't sound like there is going to be much left. Also, it would be an interesting scenario if a Section 645 election could be made -- would have to have more details and a legal opinion -- but that would enable them to elect a fiscal year....... There were no other details given about estate assets. I would love to know the outcome of this situation. Keep us informed.

There is no way it will take a year. 90% of returns are efiled leaving 10% of 150 million, or 15 million paper returns. 40% of returns had been filed by the end of Feb. That would leave a max of 9 million paper returns to be processed. Of those, there are many on extension and those who will put if off until 7/15. Let's say it is 10% of each. That would leave approx. 7 million returns to be processed, which is almost the number processed in Jan-Feb. IRS mail room employees have gone back to work, which means the IRS is ramping up to start processing returns. If the processing starts June 1, it should be caught up in no more than 3 months, or less.

As long as the tears and the tape can not be detected, it will work, but it takes a talent which you obviously have.

Because you are awesome like that. Tom Modesto, CA

If check is not torn through either of the rtg or acct #'s or the signature, I would go back to the B of A and try to have a teller deposit it. They have to run it through the magnetic number reader, so if the critical part is damaged it will not go through. If the teller refuses, politely ask to see the manger. Managers are paid to solve problems. I learned a log time ago that the lower level employees are trained to say no to anything that deviates from the rules, but people at the top are the ones that can bend the rules and say yes. Don't tape the check. Let the bank do that if it needs to be done. As for ATM and mobile, those will be rejected if they detect the tears, or the tape. As for replacing the check, here are the FTB's contact numbers and chatline link. https://www.ftb.ca.gov/refund/help-refund.html#Contact-us-about-refunds

I hope they secure these trailers and there isn’t a fire. Those fires get very smoky and paper doesn’t like water. Sorry, that’s how I think, but on the positive side I’m sure the firefighters will save what they can if adequately notified.

It would have been nice to have had prior notice of this and not get these " Where is my refund. I mailed my return two months ago." calls from clients.

Does the 1099 give totals for short term Box A and long term Box D? If so, I just put those totals on the Sch D. Even for Box B and Box E, I just input total for each stock into the 8949 and don't bother with a separate line for each date of sale.