jasdlm

 Thank you all!  I put $1 in box one and shipped it off.  No state return affected.  Same organization did her 2023 return and reported all income in all 3 boxes.  I still think both year's W2s are incorrect, as I think the money was her living stipend, but unless/until she gets me her agreement, it stands as reported.  Thanks again!

Thanks so much!  I scoured the website and found examples of Box one with no Box 3 but not Box 3 with no Box 1.  Hmmm.

Nothin in any box 12 or box 14.  Hmmm.

I have a W2 for $2,700, but Box 1 is empty, and the SS and Medicare boxes each have $2,700 along with the relevant w/holding.  Client (kid of a client) tried to do her own return last year, and it rejected, so brought to me.  I think the W2 is incorrect.  I've never seen a W2 with $0 in box 1 but amounts in 3 - 6.  At the risk of making myself look ill-informed, what am I missing?  In searching online, it seems that box 1 should have been completed, but not box 3 and 5, and it seems that the almost $200 fica/medicare withheld shouldn't have been withheld.

Yikes!  Do I need to give up my preparer's license?

Thanks much.

I do a separate calculation for the Solo 401(k) and keep it in the work papers file.  I then enter it in the 401(k) contribution line as shown above.  I haven't found any way to do it through ATX, and the complication (some of my people don't earn tons of income and still have Solo 401(k)s) of the catch-up and checking whether there is any eligibility for an 'employer' contribution, and then one guy has a day job where he defers, so there's that calculation ... I just need a spreadsheet, and then I have backup.

Years ago, I used direct debit, and the IRS took the money twice.  One phone call and they immediately acknowledged, but it took them 10 weeks to refund the 'double dip'.  LONG ago, and I'm certain it's fixed, but I've never used it since.  I have an instruction sheet with instructions for direct pay for Fed and State, and I pay a client who is retired to come in 4 times a year and phone all my clients who have estimated payments reminding them of the same.  Clients love it, and it's a 'touch' in the off season time.  I print vouchers when I do the tax return for folks who want to send checks, and we keep a spreadsheet of 'estimated payment' clients.

My son is getting ready to go to college, and he says he's going to take over my business someday.  When that happens (or when he changes his mind and I sell my business), he can move the estimated payment system into this century ... my retired client might be tired of making the phone calls by then ;).

When ATX barks at me about that, I just put a 0 in the employee contribution line (it will accept that) because the employee/employer contributions through the W2 (code W) all count the same, as mentioned above.  Enter a '0' and the error will go away.

I do the same thing; dummy up a 1099 INT.  I don't have any other ideas.

Have a client (on second vehicle now) who always buys the vehicle in the business and pays all expenses of the same every year through the business (vehicle is definitely not business use).  I make a journal entry in the books every year moving the vehicle expense to owners draw.  14 years running.  We never discuss it.  Don't ask/don't tell.  I'm not hiding it.  The client does his own daily entries in QB.

I have one every year that smells incredibly strong ... like a jar of pickles.  What the heck could that be?  Definitely working from the scans on that deal, but my poor scanning staff!

AND could you ask it to explain to my clients why they have to carry forward part of their foreign tax credit when they didn't have to last year?  (I mean, while we're askin')

PLEASE IGNORE ME.  I'm an idiot, and I fixed it.  Software user error.  Sorry.  

Hello.  I have a weird situation this year.  Long-term client has a farm in IA.  Does not live in IA.  Last year, he received a large Federal tax refund.  The calculation on the IA 126 is coming up with 69% of his income as IA even though IA source income is about 1/6th of his total income (so taxable income in IA ends up being more than the source income).  I can trace the numbers through with the large federal refund, and I know it's the same calculation as last year (but not so wonky looking because no large federal refund), but it's just not passing my 'sniff' test.  Anyone have experience?  I've read the instructions, and I think I'm doing it correctly, but it's going to be a difficult one to explain, so I just want to make certain I'm right.  Thanks much!

If she converted the entire amount, then no penalty.  I hope I'm understanding the question correctly.

44 minutes ago, Lion EA said:

ROBS. Or, are ROBS only within IRAs? Too complex and scary for me. If you make one misstep, you disallow the entire retirement account. And, now inherited. Wow! I think you have a big, hopefully very profitable, summer project.

Agreed.  ROBS.  Must follow the requirements very carefully.  Agree with a big, very profitable summer project.

I use Windows Remote Desktop to access my PC Desktop (running ATX through my server) via both my Surface Pro 9 and my MacBook Pro.  Both are as stable and quick as they are when I'm in the office working directly on the desktop.   I have zero problems with remote access that I don't have when sitting at the PC.  That said, ATX crashes every two or three returns, and you have to restart each time you print something large, but these things seem to happen regardless.

Okay ... this is crass, and I apologize in advance, but put in a date of death in the current year for the person you don't want the vouchers SSN in, and the vouchers will show the surviving spouse's SSN; print the vouchers, and then delete the pretend DOD.  Hopefully that's not bad juju.

Thank you for taking the time to post this.  I'm truly grateful.

Danrvan, I absolutely always agree with you, and interestingly, this time, I don't, so I'm certain that I must be wrong (and I mean that sincerely and respectfully).  I always appreciate your answers, and I think you're very knowledgeable. 

I think you can leave the bank account open to handle any final issues, taxes, etc, and make final distributions to owners, but you can't conduct any more business, and you must mark the return final and close your account with the IRS.

I'm not trying to disagree ... I just want to get more information, because I looked for a bit, and I can't find support either way.  If fact, some states require that you not distribute assets until you've formally dissolved your business (filed for dissolution), so that would be interesting to handle.  I might be thinking too technically on the legal side and not on the tax side.

Again, I'm pretty certain I'm wrong on this given that the answer came from DanRVan, but I would love to get a better understanding.  Schiralli, I've done it the way you have before, unfortunately, so I'm in your boat ... we'll face the feds together ;)!

Thanks much!

What has worked for me (and it might just be dumb luck) is Tom's suggestion of going into the AMT Schedule B and making certain the right type of income is chosen for all the years there is a CF and making certain the amounts are entered.

I couldn't get one to flow through on a trust that didn't have a CF; only had current year, so I went into schedule B (which I should not have needed) and made the credit year 2023, and entered the data, and it worked.  A LOT of guesswork, rejects, and tinkering around for $70 divided among 6 beneficiaries :).

I don't understand the 'new time share'.  I know he transferred from him to her, but what was the 'new'?  Also, was there debt against it?  The fact that the post says 'use the equity in his current timeshare to purchase' sounds like a sale.  I'm lost, but you got my attention at 'equity to purchase'.

I would say even if they were gifts, she takes the giftor's basis (is that a word?) in the gift, so basically, if she sold them for more than what the 'basis' was, gain, and if not, personal loss not deductible.

My 2 cents, and I'm ready to stand corrected.

Remember when you would fax a number, and they would fax you back a form you needed?

Clients always think they're doing me a 'favor' by only giving me the 'important pages'.

***SIgh***

10 hours ago, joanmcq said:

Ugh, I have one that keeps rejecting too!  I've attached Sch. B and it still rejects.

How did you attach schedule B?  Last year, there was a '1116' category when you went to attach a .pdf to an efile.  This year there isn't, and for me, it doesn't like 'other'.