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Isn't that what the "I" in IRS stand for - Inconsistent. All kidding aside, it is congress, not the IRS, that creates retirement plans and their requirements. What is inexplicable is why there are 9 different plans.

I think it is part of line 17, code V. As of 2/3/21, IRS still had the 1120S K-1 instructions marked as draft, not finalized. Does ATX have this form ready to go now?

Program has encountered an error and needs to close occurs in ATX because the print spooler fills up. Below is a procedure to clear the print spooler and avoid this error until the spooler needs clearing again. THEN, clear the print queue as shown below. Note that this will delete ALL print jobs in the queue and will restart the spooler.

Whose money was deposited into the account? If none of her money went into the account, should the income be reported on her return?

To avoid many little issues, file jointly. It seems that husband is a high earner and wife is making enough money to make sense to file jointly.

To avoid matching notices, on person whose SSN the interest and dividends are reported, report the full amount and nominee out half to the other person. I've never done that on 8949 but there is an adjustment field there as well.

Thanks, will do. That's my "final answer" after "polling the audience!"

If it is in joint name, I would think that each of them should get half of the income when you split the return. I doubt it would ever be caught, unless audited. I don't think the IRS matches to that extent. But is it right and ethical? I don't know.

I think you'd have to split the investment income to be proper, but I've never had to research that. As an aside, this is one of the reasons I discourage joint investment accounts. The other is when one spouse dies, it's much easier to see the basis step up.

You could put this in a bat file and put a shortcut to it on your desktop. Or even this more complete version that clears the cache too: You can clear the print queue using commands like this. Select Start. Type Command. Right-click “Command Prompt” and select “Run as administrator“. Type net stop spooler then press “Enter“. Type del %systemroot%\System32\spool\printers\* /Q then press “Enter“. Type net start spooler then press “Enter“. I found a batch file you can download: https://www.tenforums.com/tutorials/90615-reset-clear-print-spooler-windows-10-a.html

Here's the 2019 Pub 463 section for depreciation component of standard mileage. The IRS hasn't gotten around to releasing the 2020 version, yet. https://www.irs.gov/publications/p463#en_US_2019_publink100034059

How else will you keep track of the depreciation component of standard mileage, which you will need at disposition of the vehicle? IRS knows that most people don't report the gain or loss on sch c vehicles, especially the split use personal/business vehicles.

It's probably a good thing the software does. If there's a time lag, it forces us to open the return and get it updated. I do like Abby, compare to my earlier pdf return to see if there are changes.

Someone suggested it in an earlier post. Type Services in MS search box. Page down to Print Spooler. Right click and click on stop. Repeat and click on start the 2nd time. I also got a new printer, HP Neverstop 100 (with a new computer). A small end printer. I don't know which one actually helped. The verdict is still out as I do more returns.

These 0h Rita titles always throw me off: No way I have made 37 errors already shut up.

Absolutely agree. I’m only concerned about the possibility of a letter to a client. Always a time waster. There is no chance of getting paid either. I would hope IRS would not chase this rabbit. Waste of their time, too.

The taxpayer should have additional info i.e. a letter from the Dept referring to the specific program under which the loan was cancelled

My return with 5329 marked 12 went thru and was accepted. I think the code is 12, but the input worksheet had 'b' as coronavirus related.

I am seeing this more this year than in years past. I always have the Task Manager up to give me an idea of when I need to close the program to free up the memory issues inherent in ATX's lazy programming practices. Whatever you do, don't click on CLOST PROGRAM. This will cause you to lose any unsaved work. Instead, "X" the error window, save your changes, then close the program as you normally would.

If the tax is right on the return, regardless of how I got there, I almost never amend the return.

And wait a year for it to process? No thanks!

Years ago (don't remember the software company anymore) I was told to do exactly this with the $1 income. On the state, if the software won't allow income less than tax withheld, enter it as a tax payment made on the state return. I did this for several years in the late 2000's and never received a letter from the state or IRS on it.

Alright. I sent three returns for clients who didn't want to take advantage of reporting the early distribution over three years. I used Form 5329 only. They were accepted. THEN I happen to read on the ATX Form 5329, under Part I, that we don't use this Form for coronavirus related distribution. I noticed just now that the IRS pdf for 2020 Form 5329 does not have that instruction against using the form for coronavirus distribution. Just throwing this out there. No idea if we that used 5329 should amend to include 8715-E or not. I have three others that I will hold onto and use 8715-E. And yes, I have tried to dissuade folks from shooting themselves in the foot by not spreading the income over three years. They have already shot themselves in the foot by taking distributions they didn't need while the market was down. There's no helping these folks: "Oh, your hours were cut causing your income to be 4,000 less. It makes perfect sense to take out 90,000 from your 401k. Ok."

NEVER SURRENDER!!!

Looking for your topics? - All stimulus-EIP topics are in the COVID forum All e-filing issues, including e-filing prior years, are in the E-File forum All posts related to the health insurance marketplace, 8962, splitting the APTC between returns, etc - all are now in the ACA forum

Rechecked one this am and still incorrect.

I think it's Line 7 of the current (2/15/21 @ 7:00 am CST) ATX "figuring taxable SS benefits [my name for it]"worksheet that will have to be overridden. When ATX corrects it, Line 5 should be omitted, Line 6 will become Line 5, Line 7 will become Line 6 and include the donation amount. See page 30: 2020 Instruction 1040 (irs.gov)