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I asked a client before her appt if she could find something that shows her child lived with her, if not okay. She came in with a letter from the public school. She said the school secretary knew exactly what she wanted and just zapped it off the computer. Guess a lot of tax pros in the area have been asking for the same thing! Only problem was it was dated February 31.

Changed the hydraulic fluid and everything.

I roll them over as returns come in. Helps me keep track of who I've yet to see as the season draws closer to the end.

I roll over as needed until 4/1. Then I go to rollover and check the Not Rolled Over box and roll over the rest to file extensions. Do the same for entities except we do it on 3/1. Even with the new due dates, we find it more logical to do all entities on 3/1.

ONLY at the time I am using it. Trust me on this. Too many potential issues to roll them all ahead of time.

Bahahahahahaha. That may be the same calendar that my guy who left a message yesterday uses: "I had health insurance for four months, so only three are unaccounted for." I hope schools here start doing that. The school refused for my guy who "can prove they live with me, no problem." Of course, there is no telling what he told them when he asked for it. LOL. "Hey, can you swear to IRS that I'm entitled to that there unearned income tax thingy? The penalty is only $510 times three." Uh, no.

Just FYI for my Ohio ATXers.....In some cases (such as with SD7501), the program is pulling incorrect tax rate on the OH SD-100. Instead of using the 2016 rate, the program is using the new higher 2017 rate....Had to overide.

Joe, this site is for tax professionals using a specific brand of software not used by the general public. We do not answer tax questions posed by nonprofessionals here. I'd suggest that you hire someone to prepare your return.

It sounds (and smells) like an installment sale. Irrespective of what they want and when, they have structured an installment sale. I would take the total cash flow and back into the sale price and the amount of interest that will be paid over the term. The options are meaningless and the seller would simply repossess the property in case of default. Understand that I am not a lawyer, but that is what I read into your description. I am with you, the client needs to take this to a contract and real estate attorney and get it fixed. I do not think I would do much with it until he does that.

What you are describing is an Option to Purchase. It is not a "rental." The payments specified are Option payments which can be held in an escrow account for the specified time in which the buyer is required to close the sale. If the Option payments are forfeited by the terms of the Option agreement, then they become Ordinary income to the seller who retains ownership of the property during the Option period. It is possible the Option payments are made in one tax year, and forfeiture occurs in a succeeding year. If that happens, the TP may have to file amended returns to report the income in the year received. If the buyer wishes to rent the space while this Option is in place, then he needs a proper lease which specifies that rent for a specified time and the payments cannot be applied to the purchase price. So you have 3 possible scenarios: 1. Lease 2. Option to Purchase 3. Installment Sale. The seller cannot "decide" which one of these scenarios it is, after the end of the period. It needs to be in writing up front in a properly-worded contract.

I don't think you have to worry. They won't be back. And you are right.

I roll as returns come in. That way I know how old a return may be in the system. Gives me a heads up on order to work returns if all info is there.

Since she transferred to NY, and I assume the company did not reimburse her living expenses while in NY becasue it was a transfer and not short-term employment at the request of the company, I would still treat her as a part-year resident in both states. If the company had sent her to NY for a peeriod of time, then I think NY non-resident filing would be appropriate and CA full year resident.

IRS Pub 225 Farmers Tax Guide is a good resource

yes

I would file her as part year resident in each state. If she were working for one company and had earnings from both states, she would be a CA resident and a NY non-resident, which would mean that CA would allow her a credit for NY taxes paid but charge her CA tax on entire income. Since she was working for two different employers and physically lived for part of the year in NY, I don't think there is any way she could be classified as a non-resident for tax purposes. As a part-year resident, she will ony pay NY tax on her NY earnings and CA tax on her CA earnings, which may turn out to be a benefit.

Thanks for the date idea! I knew there had to be lots of ways I could use this.

Tax practitioner's information soon be available at IRS website The IRS alerted tax practitioners that it will soon be publishing their registration information online. The information was previously available only on a CD-ROM for a $35 fee for those who submitted a request to the IRS. The information will be available without cost. The Freedom of Information Act requires the IRS to release certain information about people who hold preparer tax identification numbers (PTINs) and enrolled agents. The information includes the PTIN holder’s name, business name, mailing address, phone number, website, email address, and professional credentials (see the IRS webpage, “FOIA Awareness for PTIN Holders”). The IRS told PTIN holders that they may now use P.O. boxes for their business mailing address. It also said that if a practitioner used a personal address instead of a business address, or used a street address instead of a P.O. box, he or she may want to change it. It also advised practitioners who receive unwanted solicitations to report the problem to the Federal Trade Commission. According to the IRS in a Jan. 26 email from the IRS Office of National Public Liaison, the Freedom of Information Improvement Act of 2016, P.L. 114-185, enacted June 30, 2016, requires agencies to “make available for public inspection in an electronic format … copies of all records … that have been requested 3 or more times.” The IRS said it is now working to implement downloadable versions of the PTIN holder and enrolled agent lists in its Electronic Reading Room on irs.gov, and that the lists will be updated twice a year and be available at no cost. The IRS will provide an update when the lists are placed on the website. —Sally P. Schreiber ([email protected]) is a JofA senior editor During a time when hackers are actively seeking practitioner's information, this helps how ??? Especially liked the advice that we might want to make sure that we change our address to a P O BOX !

Can't we stop this??? I hate it. grrrr

I've never been able to utilized E-Services. Went through the process in November to activate AGAIN. In December I entered my authorization number they mailed me and I had access to the service. Need it today - bam - doesn't recognize me at all and says I'm again not enrolled. I'll never understand that thing.

The 1098-T just tells you the person was a student. Your client, usually via a bursar statement and their own cancelled checks and letters re what the scholarships/grants apply to, must provide you with payment amounts and dates. Report what actually happened and keep your notes/documents/whatever. Do you think the IRS can interpret the 1098-T with their crystal ball any better than you can?! Tell your client that the IRS cannot interpret the 1098-T in isolation, and not to be alarmed if a letter arrives from them. Just notify you immediately so they can provide additional information under your guidance if the IRS asks.

Wait, your client and her brother lived in the house? Then section 121 for $250,000 of profit, right? Sales price - basis at transfer/FMV if lower + improvements = profit. Unless brother paid rent, one flat was depreciated, other details I'm missing.

I can see why the colleges don't want to do bookkeeping on a calendar basis when they are on a fiscal year. But, they have to do calendar year for their own payroll. They are not unfamiliar with calendar year reporting! I try to get the financial transcript from the beginning of the calendar year that includes the freshman year to match up "due" to "paid" and then highlight when by parent or student loan as opposed to scholarship/grant. Sometimes, it works out best for the student to have taxable scholarship money on her return at a low tax rate in order for the parents to claim education benefits at their higher tax rate -- but that's a separate topic than the messed up reporting that colleges do.

Creating Links Between Fields source: http://files.cchsfs.com/doc/atx/2014/Help/14.3/Content/Both-SSource/Creating Links Between Fields.htm Use the Start Link and Finish Link feature to create a link between two fields on any form (including schedules and worksheets). This function, represented by the Start Link/Finish Link toggle button on the toolbar above an open return, links text or numeric values from one field (source field) to another field (destination field). After a link has been established, changes made in the Start Link field are reflected in the destination field. When checking a return for errors (Check Return), the Finish Link field (destination) will be marked as an overridden field. Start/Finish links automatically roll over from prior year or prior period returns. To create custom links: Select the source field. Do one of the following: On the toolbar, click the Start Link button. From the Edit menu, select Start Link. Navigate to the destination field on any form, schedule, or worksheet. Do one of the following: On the toolbar, click the Finish Link button. From the Edit menu, select Finish Link. If it takes longer than 40 seconds to finish the link, the request will be canceled. Destination fields have a green background. Creating links between fields: example of source/destination fields Canceling Relationship between Two Linked Fields To undo the link between two fields: Place the cursor in the destination (green) field. Do one of the following: On the toolbar, click the Restore button. From the Edit menu, select Restore Field. Press Ctrl+R. When the green background disappears from the destination field, you know the link has been removed. Exceptions: When Fields Cannot Accept a Link The following fields cannot be linked: Input or Detail Sheets Itemized Lists Circular references or mathematical loops Whenever a field cannot be linked, you'll receive a message that will alert you to this exception.