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About Hahn1040

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  1. Hahn1040

    MD 502R

    ATX is putting the retirement income on line 4a for SEP. Shouldn't it be on line 1a??? In my cases it is military pension. IS anyone else having this issue? I can just move it (I think)????
  2. Latest developments : I met with Grandma and mom yesterday. When the deceased son's condo was sold March 2021, they gave Grandma back the $200,000 that she had given him in 2018 to purchase it. Does that undo the 2018 gift? Or is it a new gift from the estate to Grandma. Only the parents are beneficiaries. then Grandma gave the granddaughter the $200,000 to pay down her mortgage (2021 gift) also found out that mom had transferred the balance of deceased son's investment account ($18,000) to daughter and she transferred his 529 ($47,000) plan to daughter. I know that transf
  3. Having a FAFSA number is the key. Though, sounds in this case that it was reported on the 1098T. Often you pay your own school for the study abroad semester.
  4. I am 99% sure that she has no concept that the depreciation will reduce her basis.... so I would say 110% that she has no idea of unqualified use! I suspect that they believe that the rental will be a great tax write off.... her income is over $150,000 so we all know where the rental loss goes each year!
  5. Oh I know! We all have a millions stories like that. Now I am trying to tell the mom (same family) that it was not a good idea for her to be on the deed for the daughter's house. The daughter bought it to live in eventually but is posted overseas, so she is renting it. UGH! Mom has no financial interest but the house is in both names.
  6. Thank you so much! Do I use the W-2 wages or the net after I subtract the IRD for the wages paid after death? I really appreciate your help! Just found out that the mother cashed all his savings bonds and the interest is reported under her social security number.
  7. Can he get EITC? He died in Jan 2020, so his wages were only $5050... after subtracting the IRD wages $1,515. He was Single age 29 no children. He did not "live" in the US 6 months of the year, but he lived in US all of the year he was alive! There must be a place to look this up..... I am not finding it.
  8. the home was purchased with the cash from Grandma. The mortgage was obtained 4 months later. In 2020 the sister bought a house with the help of cash from Grandma. This time she got the mortgage at the purchase. Also included Mom on the deed. Then she immediately turned it into a rental. Ugh! Mom contributed nothing to the purchase or maintenance.
  9. thanks for your response: The original purchase was all cash. several months later he got a mortgage. So it was not a refi. There was no original mortgage The sale of the house was under the estate EIN Mom and dad were both named by the court as beneficiaries
  10. Client died Jan 2020. Single. age 29. no will. Employer paid regularly scheduled paycheck two days after date of death; then paid final for vacation time . All was credited to deceased bank account. All is reported on the W-2. I know that the pay received after the date of death needs to go on the 1041. Can I just make the adjustment by subtracting it off his personal return or do I have to get the employer to correct the W-2. I hate to have to go to the parents for this. They have been through so much! He owned a condo. So they had to go through the courts to be able to
  11. And did they want you to put all the staples back that you had to remove in order to run the pages through the scanner! I have one that has no less than 4 staples per doc where she attaches a computer printed label for each doc. Just to be sure that i will be able to know which is the mortgage interest and which is the pension income!
  12. the issue is that you cannot have more than one RESIDENT state returns you can have combinations of Res, NonRes, and Part-year Res. BUT not more than one Resident I have been able to get around this limitation it in the past by duplicating the return and then filing the second resident state from a different return. you have to unlink it. This may not work for all states
  13. Just the other day, I had this discussion with a 19 year old college student who has at least 6 K-1s from PTPs! i asked: "Why are you investing in PTPs!?!" He had no idea what I meant. He thinks he is making money... I told him to warn his dad that the charge for his return would no longer be the "nominal add on" for a dependent's return.
  14. I opened ATX and it is NOW making the adjustment on its own! It even has its own line on the FDC worksheet!
  15. Thank you! I have a whole stack of these waiting for this info!
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