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I wonder if this would fly? PITA Fee - whatever it takes to make you go somewhere else next year Tom Longview, TX

In looking over the various increases in what will be our workload this season I am going down to the store and buy several additional bottles of ibuprofen or acetaminophen. I wish you all good luck as I feel sure we will need as much of it as we can get.

Red wine, maybe an extra glass for soothing purposes.

I've upgraded to CBD tincture to keep me sane, calm, and focused. Auto-delivery.

Just as an opener. How many of your clients are going to locate must less remember those Child Credit letters and EIP letters from the Service. I am reading a married couple will receive a Child Credit letter to the wife and one to the husband. Am I reading this correctly ? It appears so illogical to me. I don't know about youall but my fees so stable for years are going to take a considerable jump.

Not only our workload, but the increase in cost of supplies. Paper has doubled and tripled in price. I use a lot of paper as noted in another thread. I shopped online for a couple of hours and ended up finding the best deal by far at Sam's Club. An employee delivered it after dark, but I have 2 cases sitting in my office now. I was sure I had more in the storage room. The only thing that is going to keep me sane is my assistant, Lisa.

@Abby NormalThanks for confirming my understanding. The 8582 is attached and there is a schedule attached as well showing the prior year total un-allowed losses. There is no schedule to support the 4797 entries. The 8582 has two K-1s in the section for losses from 2 schedules on page 3, worksheet 7. There is a ratio on worksheet 7, I guess I could use the amount claimed divided by the amount claimed to come up with the amount of the carryforward. Seems sketchy to me to do it that way. @jklcpaThank you for that generous offer, but I don't feel right sending this off without client consent, even blacked out. Thank to all of you for your input. I think I just need to have the client get me a supporting schedule for the "mysterious prior year un-allowed 4797 loss". Tom Longview, TX

Judy, I was just doing research that included what had been done in other cost segregation studies. An ex board member thought that it was an improvement, so I wanted to cover all of my bases. He isn't in the business of doing accounting or construction, but I still wanted to listen and bounce it off of my back office. ( All of you wonderful people) I would lose my mind without all of you.

Does the link include a password? Or can anyone who finds the link watch the program for free? Are people willing to pay to get the password to watch the programming? I do believe that intellectual property such as poetry, music, programming, etc has a value. Are comparable items available for sale and at what price? Does it have a FMV? What would a willing buyer pay a willing seller, neither of them being under any constraint to buy or sell?

Agree to expensing also. With the mention of cost seg studies and upgrades, it originally sounded as though this was part of a larger project.

Yes, under the newest rules, many, many things are now just an expense. Even a million dollar roof replacement.

FWIW, Local UPS Store does (did) shredding, cheaper and with a better guarantee, than the local "truck" service. (Posted this yesterday, but must've saved to draft or something.)

When my parents were alive, we burned the files in their wood stove. Now, i mostly shred in office with a small shredder but it does take considerable time and we do tend to go through shredders more frequently than I would like. There used to be a recycling operation in the large city we are closest to that would allow us to take shredding there and watch it actually go through the shredder. My husband did that sometimes for the bank he used to work for, but I have no idea how expensive it was or if they will still allow you on site to watch. My personal shredding we do take when the local news channel has a shredding day, but since they just load everything in a truck to take to the shredding plant, I am reluctant to do that with client files I am sure they would not have the time or inclination to look through the documents, but I would hate for something to blow off of the truck that contained my client information.

The key items for me are: Kludgey moving from one screen to another; very slow and clunky and non-obvious. Plus you can't go back to where you were; you have to go back to menus and re-navigate. Very much worse than QB desktop multiple windows. Reports are very much more limited in QBO. No auto-fill function. No adding on-the-fly in number fields - e.g., multiple items on a bill. No splitting transactions until *after* they have been recorded. That's what comes to mind off the top of my head. Ever work on the same year program with QB desktop for Windows and QB desktop for Mac? And the Mac version felt like it was four rev's behind and treated by the developers the same way they'd treat Weird Uncle Ed at Thanksgiving, who smells a little off, tells sketchy inappropriate stories, and no one wants to sit near him? That's how QBO feels to use.

The passive loss on 4797 would be first subject to the at-risk limitations and then the passive activity rules. The transactions are reported on their respective forms for the type of transaction, so yes, there would be both Sch E and the 4797. There should also be a Form 8582 and its worksheets that calculate what portion of the losses are allowed and the portion disallowed that will carryforward. If the sale was a complete disposition, the software would have a checkbox or some way to indicate that so that the loss from that activity would be allowed in full, and that would also be run through the 8582 calculations.