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I believe the option to use the FMV at 6 months after death only applies to the estate tax. For the step-up in basis for capital gains, you must use the FMV at the time of death. As Tom said, you can probably get away with using the sales price if the sale happens soon after death, but there is nothing in the law that allows that.

I don't know how they can check dates as long as the signed date is prior to efiling. I have had clients sign 8879 and then mail it a week later.

I already have a portal associated with my website. Do I have to get their portal to use their e-sign? Tom Longview, TX

I use Verifyle and everyone - including older non-tech-savvy clients - have found it easy to use. I did not bother with 2FA; they just answer questions. And I invite them to Verifyle, so I know who they are to start with.

I think you can use the basis: FMV at the time of death or an appraisal 6 month later. If you sell it within those 6 months, you can use the selling price as the basis if it is sold to a non-related person.

Agree with Tom. If you mean county property tax assessment value, that's not particularly accurate here.

I prepped a return a week or so ago. After it was done I ran the MFS comparison routine. It came back saying MFS was better by about $600 so I split the return. I wasn't paying close enough attention. The spouse's return came out exactly as expected. The taxpayer's did not. When I prepared the original return Drake defaulted to taking bonus depreciation on some new farm equipment. TP did not want the bonus depreciation so we overrode it with SL depreciation. When I ran Drake the MFS comparison, the software again used the bonus depreciation to determine MFS was the better option. However, when it printed the returns, it reverted to taking the SL depreciation I had entered. That changed everything. It made MFS significantly worse. Neither I nor the client noticed it until moments after the return was e-filed. Now I have to go back and amend the return to restore MFJ. Just a quick heads up that when Drake does the MFS comparison, it does not take into account any overrides you make on the original return.

AidKit Inc. appears to be a fintech that offers a online payment channel to nonprofits that help low income people who are unbanked. https://osse.dc.gov/sites/default/files/dc/sites/osse/page_content/attachments/2022 Tax Filing Resources - English.pdf

I use verifyle and It is at no charge through NATP? or maybe NASEA - one of those organizations - Most of the clients use it easily - except for those who do nothave emails or do nt ever look at them - I have quite a few So we mail - had a LLC new business today - that I have to do that with - I said I am emailing your SS-4 and when we receive the accepted papers - you will have to check the email!! A Blessed Happy Easter to all (this week or next or Passover) a church group came in and bought a lot of lamb for their Seder Meal - yum! Hubby delivered 2 racks of lamb to our family in Oshkosh - I can smell it - but said sorry - cannot come - working yet D

Thank you! Yes, CR is Feb filing due.. ends in Oct or something. We did the LLC and the RE atty is handling it.. He wanted to put it under his current very successful LLC/S corp and I talked him into a separate LLC for liability reasons, let alone taxation. Thank you And a Blessed Happy Easter to all. D

Encyro. Cost $.16 per signature. Thats 16 cents !!! Pretty simple to use. Plus its a great document portal that costs around $100 per year for the portal.

I understand completely - but sometimes not having the confrontation is far more destructive. Talk to your dad, then listen to his advice.

Sometimes the situation is too stupid not to be real.

Rita, you have done it again, now I have a big smile on my face

I used Drake's e-signature option the last couple years--wasn't real thrilled with it. Lots of incomplete signatures that I still got charged for. This year I started using Tax Dome to manage my entire practice. TD is a tax on the expensive side but it also replaces several other softwares I previously had to pay for so the cost became affordable. The learning curve is a bit steep but I love its automations, built in organizer and e-signatures. E-signatures that don't require KBA are free. E-signatures that required KBA (e.g., 8879) are $1/person/return. So far, it has worked as advertised.

OP here. I had one last month. IRS rep called me on Mar 2 and said I had been selected at random for a compliance audit. Said she'd be here on Mar 16. Great timing--right in the thick of tax season. She spent about half the time she was here checking 8879 signature dates vs e-filing dates. We passed with flying colors, but that's why I'm now a bit paranoid!

California and some other states have been issued automatic extensions, on a county by county basis, that were affected by winter storms, flooding, tornados, etc. IRS says - "Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households affected by severe winter storms, flooding, landslides, and mudslides that reside or have a business in Alameda, Alpine, Amador, Butte, Calaveras ........ qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. Question. If you live in an affected county but were not personally affected, do you still get the extension?

The fact that our efiles now go stale after 5 days drives me nuts. I always create the efile when I do the return so I make sure I've got all my errors fixed and so it gets into the efile menu and isn't forgotten. And lo and behold my client comes in on day 6. And then I even like to wait another day so I don't get the "oh i forgot to tell you" phone call. I waste so much time re-opening and re-creating. GRRRRR grumble mumble.......grumble mumble.....

With Verifyle you can set up 2fa which I have not done as I know well all of my clients. I suppose you could have 'secret' questions or video conferencing or any number of ways to verify. All of my clients have to have provided a current driver's license or state ID in any event as Ohio requires it to e-file. I love having this portal and not having to mail things back and forth and having electronic documents. I retired paper documents about 8-10 years ago.

"IRS Announcement 2023-12 informs taxpayers and practitioners that the IRS has revised Form 3115, Application for Change in Accounting Method, and its instructions. The Form 3115 (Rev. December 2022) is the current Form 3115 (December 2022 Form 3115) and replaces the December 2018 version of the Form 3115. Announcement 2023-12 also provides guidance to allow for a reasonable period for taxpayers to transition to the December 2022 Form 3115."

I'm still deciding if I'm going to make the statement today or wait until he comes in next week to do it privately. I'm not a confrontational type of person (thus why this all bothers me so much). I'm having lunch with my dad today, I'll ask him as he's the smartest person I know. Thank you.