Leaderboard

it opened this morning! I don't know what little gnomes were causing me grief yesterday, but it opened today!! Is there a Saint for that - I feel like I need to say thanks..

@BHoffman So sorry to hear about your struggles and heartaches over the last couple years. Please accept my heartfelt sympathy. As to the disaster loss...the year of reporting is generally the year in which the amount of the loss can be ascertained. So, if you have insurance and you don't know how much the insurance reimbursement is, you don't claim the loss until you know what the insurance will reimburse. In your case, if you timely filed your insurance claim, and you have been paid out by the insurance company, or they have told you an amount that you are reasonably certain will be paid, then you can take the loss on your 2022 return. If you don't know how much your loss is and you cannot reasonably estimate the amount of the insurance reimbursement (because you don't know how much you will get from insurance) then you should wait until you file your 2023 return to claim the loss (after the insurance reimbursement is finalized). Hope this helps. Tom Longview, TX

I don't know what to say, but you have my sympathy.... Tom Longview, TX

Hello all! I retired in 2019 and moved to Florida. Hurricane Ian hit my house but I’m blessed and grateful that it’s still standing. I’m not as sharp as I used to be and even after reading all instructions still not sure that I can file 4684 in TY 2023 to report the Ian loss. I think so since there a reasonable certainty of reimbursement that will occur in 2023. Am I understanding this correctly? My father passed in his sleep 1/15/2018. I inherited everything. My husband and I decided to sell our Phoenix house and be semiretired snowbirds between FL and PA. Everything was all set. My beloved husband was diagnosed with terminal cancer in July, 2019. I retired immediately to take care of him. He passed in April, 2020. Ever since, I haven’t been able to remember or think very well. I lurk often to see your names and your news. Thanks for any advice.

It doesn't take long BEFORE retirement to get rusty! Thanx for lurking around, and much love to you.

"Cannot Open Return The return you selected cannot be opened. Please restore a previous version of the return and try again." I won't include the words I said following that. So, it's Sunday afternoon and I am going home to a bunch of people at my house to watch the Super Bowl. So maybe it will all be better tomorrow........

Thanks! I guess it doesn’t take long after retirement to get rusty.

@cbslee Thanks. I am over it now. I only have 4 returns to amend and it will be pretty simple, just waiting for confirmation of receipt of their refunds before I file them. I caught 3 others that were completed but waiting for signatures and was able to change them before they efiled. Tom Longview, TX

I edited the images and reattached them for Joan, hopefully removing or hiding the clients' identifying information. It's all so small and blurry on my screen that I can't tell if there's anything still visible that I missed, so someone please let me know if there's something still showing.

Has it ever been that a state tax refund was taxable unless a federal benefit was received from over-paying? Less than 9.5% of returns itemize deductions after the higher standard amount. I'm guessing a good chuck of the 9.5% was limited by 10K total. So, the only ones that it would be taxable to are the middle class that itemize but don't have 10K in state taxes.

This a huge, extremely serious situation. I don't say this lightly, because the whole system could collapse at any time. "The IRS does not have adequate information technology (IT) systems to do its job effectively and efficiently. The IRS’s core IT systems are among the oldest in the Federal government, limiting the agency’s capabilities in significant ways. Partly due to historic poor planning and execution and partly due to lack of funding, the IRS has been unable to replace its antiquated systems. Every year, instead, it layers more and more smaller systems and applications onto its core systems. By analogy, the IRS has erected a 50-story office building on top of a creaky, 60-year-old foundation, and it is adding a few more floors every year. There are inherent limitations on the functionality of a 60-year-old infrastructure, and at some point, the entire edifice is likely to collapse." From - https://www.taxpayeradvocate.irs.gov/wp-content/uploads/2020/07/ARC18_Volume1_LR_01_IT.pdf

Wow.