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Just discovered ATX has a summary of the unadjusted basis of depreciable property. It's under 4562 statements. I was working on an 1120S and calculated the amount manually, then saw this statement. Same amount as I calculated so I must be doing it right.

The difference between 1 day or 4 days, in the real world, is no difference.

Do you mean in the 'a' box? I thought it was wrong, also, until I read the 1040 instructions for this year, and it has changed. ***If you have IRA distributions and/or pension and annuity payments, unlike in prior years when you entered these amounts on different lines, this year they will be combined and reported on the same line. IRA Distributions You should receive a Form 1099-R showing the total amount of any distribution from your IRA before income tax or other deductions were withheld. This amount should be shown in box 1 of Form 1099-R. Unless otherwise noted in the line 4a and 4b instructions, an IRA includes a traditional IRA, Roth IRA (including a myRA), simplified employee pension (SEP) IRA, and a savings incentive match plan for employees (SIMTIP TIP Need more information or forms? Visit IRS.gov. -28- Page 29 of 117 Fileid: … ions/I1040/2018/A/XML/Cycle08/source 14:16 - 24-Jan-2019 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. 2018 Form 1040—Lines 4a and 4b PLE) IRA. Except as provided next, leave line 4a blank and enter the total distribution (from Form 1099-R, box 1) on line 4b. Exception 1. Enter the total distribution*** My taxable amounts have flowed through okay.

Noon tomorrow.

Schedule 1, Line 28. I've done a few of these.

Thank you for the validation. That's one I got right. One.

Yes, the payer of the third party sick pay is acting as agent for the employer and the payment is considered wages to the extent it is subject to withholding and includable in income, so it does qualify as earned income for EIC.

Yes, it needs to be a PDF. Use the efile menu to attach PDFs to a return. Or just skip it. No one at the IRS is ever going to look at your PDF. Plus the PDF may be so large you'll have problem efiling it.

I didn't even know about this feature. Been doing it the old fashion pen-and-paper way! Thanks for the tip!

Yes, notes are assigned to a field. We use the date field at the top of page 1 on all returns for our general notes, since it's convenient and a field we almost never use. Review type notes should be in the field or form they are related to. Some users add the Permanent File form and type notes on one of the blank pages, or a blank statement page of the Elections form, but notes show up when you review a return and to me are the preferable way to go.

I think Abby is referring to right-clicking on an input cell and choosing the menu item Insert/Edit note.

Yes. There are permanent notes where we keep extensive info on the client, from the trivial (nicknames) to the crucial (don't forget state subtraction for ...). And there are review notes that must be cleared before you can finalize a return. We print the permanent notes to the back of our 'job sheet' for each return and check them off as we do them.

I think it is as you say: 1250 is QBI (taxed at ordinary income rates) and capital gain is not. The carve-out for capital gain from taxable income was to preclude the deduction being computed on income that has a special tax rate, therefore preventing a double benefit.

I do not generate the book and I don't ask for the book. If it's more than a single person entity - I tell them to visit an attorney. If it's just a single person entity I instruct them to visit a website. As long as a legal situation isn't in place already - anyone can technically write up a legal document. The problem is you can't charge for it a lot of times. For example in a divorce I can write up a QDRO, charge for it but an attorney is required to sign off on it because a legal case is in place. I can write up a trust agreement or will for anyone - it's a state issue whether I can charge for it.

Thanks for posting this.

Form 8919 probably won't help in this case. He will wind up reducing the self-employment tax by half, but he will be paying income tax on the $6K overstated income. Plus, it invites further scrutiny, which is the opposite of what he's looking to accomplish. You're not wrong to suggest the Form 8919, but I think he really just wants to get this behind him and move on.