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The irs doesn’t always recognize the basis unless reported on the 1040. I always file if the sales exceed the threshold.

Maybe I've gotten fed up with 100-page brokerage statements, but I've been entering just the totals for each type of gain (short, basis reported, total proceeds, basis, wash sale total; then onto short, basis not reported etc.). If there are only a few entries I do the trades individually, but the totals end up with the same bottom line and that's really all IRS cares about. Remember when we had to send the brokerage statements with the 8453?. We all knew they just went into a dumpster in Austin and if the IRS ever audited any of those returns they'd ask for the statements anyway.

I always do the same. Sometimes just to protect a loss carryforward even if no tax owed.

I would also suggest filing, especially if including only the gross proceeds in income will put this client over the threshold. To do otherwise, the client may receive a CP2000 notice because IRS doesn't account for basis.

There are differences between superseded and amended returns for statute of limitations pertaining to assessments and also for refund claims. The following article has a good summary of the issue, and also the difference between IRS view and the Supreme Court view on this. https://www.thetaxadviser.com/issues/2021/jul/superseding-returns-statutes-limitation.html

Because I am a "Paper Person", I keep a copy of the depreciation detail schedule in the client's file.

I would file for a minimal fee just because you never know if the IRS will recognize two plus two minus the loss.

Other Income not subject to SE tax; under $400.

I was a poll worker for the first time last fall. My check and stub were for $185. I guess this area doesn't pay so well! I just included it under Other Income not subject to SE tax.

I would add, create the new efile file and then transmit it. Don't forget to explain that you are adding 1099-int that were left out and as a result lines, 1, 3 and 5 are changing as well as the tax liability and other lines.

Assume you are in ATX. Open the Completed return. Upper left corner above the save button is the "Returns" menu drop down. Select "Amend Return". After ATX creates the new return, close the original return without saving. Make your changes to the new return. Save and name the new return. Tom Longview, TX

But the point remains that if you file an amendment before the due date with extensions, it's superseding, and if after it's not. And there's not a damn thing you can do about that. But it does lend credence to extending all returns, even those that were completed on time.

Social Security payments dates vary with the day of the month you were born, and either get paid on the 2nd, 3rd or 4th Wednesday of the month. Social Security retirement, disability, and survivors benefits all are distributed on one of three Wednesdays each month for beneficiaries who began receiving benefits after May 1997. When a beneficiary will receive their payments depends on their birth date, as described below: If you were born between the 1st and the 10th, you will receive your Social Security payments on the second Wednesday of each month. If you were born between the 11th and the 20th, you will receive your Social Security payments on the third Wednesday of each month. If you were born between the 21st and the 31st, you will receive your Social Security payments on the fourth Wednesday of each month. Source: https://www.investopedia.com/social-security-payment-schedule-5213627

I always thought, incinerator.

I thought that Drake (my software) has a choice for "Frist Amended/superceded return" and thought it was both cool and about time.

Well I have this problem. Go to print and ATX 2022 disappears. Used chat Wednesday for the response to open taskmaster and close ATX 2022 down, which works, so now I know to do that to get ATX 2022 to load back up. (spent about 3 hours yesterday trying to fix this) - wasted time. So now to really fix this, I should go to large address aware website and load a program that I know nothing about, and do some configuration, so it will fix my ATX 2022. Sorry, I am old and confused. I retired half my clients this year so I could breeze through my tax season. That's not happening. Robbie

The individual did not receive the 1099, the partnership did. The 1040 just has a K1 that has to be entered. The Sch D instructions do say to attach detail, but I've never seen that requirement in the code, regs, or rulings. And, like everyone else here, I've only been entering totals for many years. Also, I believe no one at the IRS ever looks at attachments, even if the return is reviewed.

The rule is, if you don't know what it is, leave it be. But if you see Adobe update or QuickBooks update, go to services, stop them and also set them to manual start. This is reason #121 why it's good to restart your computer every day. Tasks that were trigger started or manually started will continue to run until a reboot.

Been building PC's since the old Intel 286 days. Back when hard drive capacity was measured in megs and 5 1/4 hard drive where the norm. Showing my age. Anyway the best info on tweaking or streamlining any version of Windows is Black Vipers's web site. https://www.blackviper.com/service-configurations/black-vipers-windows-10-service-configurations/ Here is a link to Windows 10, but any version is available. Windows itself has many services that are not necessary for 90% of all users. Fluff, I call it. So even Windows can bog down a system.

It's not clear how it should be reported. It is earned income which should count toward EIC, but since no self-employment tax is due, the only way (according to the instructions this year) for it to carry to the EIC Worksheet is to include it in line 1z of the 1040 - perhaps on line 1h?

Last year, the IRS started allowing efiling of superceding returns: https://www.irs.gov/newsroom/irs-taxpayers-now-have-more-options-to-correct-amend-returns-electronically But not all software supports it.

There is no way to super cede a return using efile, as the second 1040 will be immediately rejected by the IRS efile "acceptance department". The only way to be efile-accepted is with a regular 1040X.

Thanks, @Slippery Pencil. It's what makes sense - which immediately made me second-guess myself, because "making sense" and tax rules are frequently incompatible.

Not a requirement. He has no idea what he's talking about. Decades ago preparers would attach the 1099 and put "see attached" on the Sch D instead of typing in dozens or hundreds of trades. Since the 8949, that's not required. Even before the 8949, I stopped attaching the 1099 and just posted summary totals on the Sch D.

Two posts were moved to a new subject entitled COMPUTER BLOATWARE so this one isn't derailed.

I have been in my current practice for over 30 years and I have never heard of this requirement