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That was a terrible decision. You make it sound like you persuaded him to do this. If so, that makes the decision even worse. You should have persuaded him to file an extension and wait. Live and learn. File extensions, they're your friend.

correct And most likely is 39 year property unless it can be proven otherwise per reg 1.856-10 (d): (2) Inherently permanent structure - (i) In general. The term inherently permanent structure means any permanently affixed building or other permanently affixed structure. Affixation may be to land or to another inherently permanent structure and may be by weight alone. If the affixation is reasonably expected to last indefinitely based on all the facts and circumstances, the affixation is considered permanent.

Yeah, I wish our site would allow editing of our posting up to 20 minutes later.

* Can't. I always proofread ten minutes after I hit sned.

Many times you get 1099R's showing taxable when its a rollover. If you take the check and move it yourself within the time frame, the payor has no way of knowing you are rolling it over. I just file showing it as a rollover and have a copy of the timely deposit into another brokers account on file in case a notice gets issued. I have never had a problem with this after sending a copy of the recipient statement.

Due dates are 3/31 for electronically filing 1099s. A corrected 1099 isn't issued unless an incorrect 1099 has been filed w/ the irs. If the 1st 1099 hasn't been filed, the new one is the originally filed, not corrected, thus the box doesn't get checked. It is now after the due date and the 1099 has most likely been filed. If a new one has to be filed, it would be corrected. Most every corrected 1099 I've seen has the corrected box checked. Final 1099s issued after preliminary 1099s that weren't filed don't have the corrected box checked.

They still can find a payment from a spouse with a flashlight and both hands.

The information should be reported in Box 20 code Z which should have a supplemental page with the details that you need.

I already know that my Win 10 desktop will not run Win 11.

I am looking forward to hearing more about this when I do my CPE this year. I still don't know if a related party is considered to have 25% ownership - anyone know that answer? Will you be filing these for your Corps? I plan to stay as far away as possible. $500 per day penalties is too much liability for me to take on. Tom Longview, TX

Those are now termed "spoiler alerts" Tom.

We knew what you maetn or meant. Or whatever! Best way to find errors and typos is to hit "Send" (or "Enter"). Works every bleeping time!

I have the clients send me copies of checks (with issue date) plus copy of statement showing the deposit (dated) when the rollover happens, and save it. That way when the CP2000 shows up in 6-18 months, the client isn't scrambling to find documentation that, at that time, is at least one year and sometimes more than two years in the past.

I agree. The ONLY thing to do in this situation was to file an extension. If the client refuses, I’d tell them to find another preparer. But that horse has left the barn. now you’re stuck with unraveling the mess, which could easily take months or more. Likely to be lots or unbillable (or unnecessary) time wasted on this. Hopefully you’ve learned a valuable from this mistake. Experiences like this are how one sharpens their skills.

I've seen a lot of corrected 1099-R's, very few, if any, were ever marked "corrected". Even consolidated 1099's rarely are marked "corrected".

What will be the correction? I guess one 1099-R with 0. Now which one was reduced to Zero? Will the IRS be able to zero in to the correct corrected 1099-R?

It is an internal hardware issue. Either they figure out a workaround or a lot of people will close up shop and just continue to use their current OS for personal computing.

Who knows where we all will be by October, 2025? I have already been told that my not so old computer will not update to Win 11, so my plan is to coast for at least another year. My techie stays on top of this so I will let him worry about it. When I have to update, I might just have to retire.

I paper file my ca return (second year ptet) because the consumer level software I use does not have this form. No real issue, other than a longer wait for a small refund. I would rather efile of course, but the benefit of the ptet is worth it, and I did not even look for a different offering which has the form for efile. however, if I were paying for prep, I would likely expect efile, especially if I had not planned correctly and was getting a significant refund.

What a mess! And the last time I checked, the IRS didn't have any of my income on my wage & income transcript. If both 1099R forms were filed as original, then yes, it should show up twice, and I'm not 100% sure that filing a 3rd one marked corrected will fix this. Keep the documentation handy and wait for a CP2000. Should be easy enough to explain.

The above posts are what I like about this board. Nobody can say it doesn't help you cut taxes and look good to customers; i.e., first post starts out with possible 39 years and last post ends up at five. As they say, it's all good!

My tech guy specializes in tax prep offices (and lawyers), so I'm comfortable with my current security. (I have him on a monthly retainer.) The above date is not until October 2025, so I don't feel an urgent need to update my OS or buy a new computer with a new OS in 2023. But, I stay in touch with him.

Fake News or Conspiracy theory alert....I have no proof for what I am about to say. I would guess that Microsoft knows that a lot of people (like me) do not upgrade their OS, they get a new computer with the new OS pre-loaded. Could it be that they are trying to get more new computers out there so they can pre-load with Edge and the new AI Bing and add the new AI features to their Office suites? Also, I have heard they are not selling the Office Suite as a product any more, only as a subscription, so if you are updating your OS and getting a new machine, you would also have to move to their subscription model for Office products? More recurring revenue to impress Wall Street? Just me thinking about how I think the mega tech companies are looking to get more and more of our hard earned money. Tom Longview, TX

Still have a few PC's with Win 7 on them. Runs everything we throw at them, even new software and or drivers for new hardware. Microsoft has been throwing the ole, "end of service" date at consumers for years. If it isn't broke !!!

I will stick with 10 as long as it is supported. My hardware is not receptive to updates to 11. I am not ready or able to invest in all new hardware; nor do I want to.

@Catherine Are you not suppose to file MA Non resident tax return indicating whole year taxpayer was not present in MA ? MA instruction to file ONLY if MA source income greater than 8,000

I would file both.

The instructions to 1040x do state to attach all forms and schedules that you are amending. So, for example, state: Line X: Sch SE added. Attached. Line Y: Consolidated 1099 received after original return filed. Sch D and Form 8949 attached. Line Z: Sch EIC changed. Attached. In the scenario where EIC was claimed on the original but the client is no longer eligible on the amendment, file the EIC with zeroes. Some state returns require the line number that changed as well as associated revised schedules.

I am thinking that their percentage went up because people have decided that it is a waste of time to try to contact them so they got fewer calls.