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Showing content with the highest reputation on 02/11/2024 in all areas
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I agree with Lee. Another requirement is that they were still undergraduates at the start of 2023, so that is easy to check. And on a broader note, I wouldn't take a new client without seeing their last return.2 points
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I would insist on copies of the prior years tax returns or take the LLC.2 points
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Many years ago I had a similar situation. The student at the time was not on speaking terms with the parent who had been claiming her, so no go on seeing if parent claimed. Called the IRS to see if they could tell if she had used up her 4 years or not. Agent said they do not track the years by the student SSN but rather the SSN of return claiming it. Make of this what you will.1 point
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This MIGHT be a self-directed IRA, and I’ve seen a couple of those who had some very weird transactions reported. Especially since they were actually self-directed in name only.1 point
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I have the breakdown on a signed Wisconsin Rent Receipt. One of the questions checked yes is: "Is the rental property a long-term care facility, CBRF, or nursing home?"1 point
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What Judy says ^^^. Something doesn't pass the smell test....but I see conspiracies everywhere I look. Tom Longview, TX1 point
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Just enter the ones that matter. And if you don't know which ones matter, you shouldn't be preparing taxes.1 point
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Quote "You can include in medical expenses the cost of medical care in a nursing home, home for the aged, or similar institution for your spouse, yourself or your dependents. This includes the cost of meals and lodging in the home if the principal reason for being there is to get medical care." She just broke her hip for the second time.1 point
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A rare bird sighting. A client who is questioning a deduction!1 point
