MikeTAX

Can you give me a hand too? I have a cust making $130K told me that he just did the HSA $5800 contribution 2008 for his family. And, he provide me with amount $5800 along with EIN #, address. He said to me, there is no form from this HSA company where he made the contribution to, is it correct? If so, am I input form 8889 along with 1099-SA as well? On #8889, should I input part I & II or only Part I? I try to input part I #2, but on 1040 didsn't show the deduction which the customer is looking for this $5800 deduction on 1040 line #25 On #1099-SA: I should input as gross dist. $5800 right? How about the code # on box 3, #1? Thanks in advance for your help!!!! Mike

this $22K buy out cost is just a one time fee to buy existing store, SPA, more like turn key fee, includes everything. Do I have to break it down in details then? Customer told me no list, just $22K for this Spa biz.

Yes, I read this already. But in it, there is no detail about what I can do with this $22K that the customer bought out "existing" biz. Most of them listed on p583 & p535 are telling me what should or shouldn't deduct for the start up cost. Bought out cost $22K is not part of the "start up" since they didn't meet the 2 test on pub 535. ch7. I wonder anyone knows if this bought out can be duductable or not........ do you? If so, where should I put them in Sch C? Bummer!!

I've been scarched my head for several hours for this topic. I have a customer who just bought a business for $22000. Can anyone tell me what is the best way to write off this on Sch C? Will this qualify for start up cost? Or is there a better way to do this?