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jklcpa

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Everything posted by jklcpa

  1. Tom, I agree that the non-refundable should be applied first to reduce the liability, and the refundable credits come after that, and that is why those are included in the "payments" section of the return. I'm not sure if this will help you sort this out, but here is IRM and the credits application is in sec 21.6.3.4, and the ordering of nonrefundable credits is at 21.6.3.4.1 : https://www.irs.gov/irm/part21/irm_21-006-003r#idm140499595953776
  2. It's now $210 per partner per month for a max of 12 months.
  3. Maybe some of these responses were helpful?
  4. If parents meet the requirements to claim him as QR, then parents can deduct the NET medical expenses they paid, net of any reimbursements from insurance, the trust, or from other parties. Assuming you are asking about 2020 deductions, this would include any net expenses PAID IN 2020 for medical services or expenses of 2019 even if son wasn't a QR for that prior year. For medical expenses paid for services that extend substantially beyond the end of a tax year generally aren't deductible (exception is LTC premiums), but for example, if the parents paid for in-patient rehab in late Dec for a couple of months into 2021, I'd be inclined to deduct that because many of those facilities expect payment up front at admission and may give a discount, for example if paying for 90 days in advance. Didn't look up the part about the trust, but I think the expenses paid by the trust could be a deduction there if it's a SNT, and that reduces the income of the trust that potentially is passed to the beneficiary.
  5. I see your response! I cleared cache & history on my tablet earlier this evening and had NO TROUBLE logging in again. Thank you, Eric.
  6. After clearing cache & history in Firefox, I got the same error code 2S119/1 at 2:30 a.m when trying to log back in. Immediately retried again and was able to log in as usual.
  7. I'll send Eric another note.
  8. First several paragraphs in this link explain it well and includes an example: https://www.journalofaccountancy.com/issues/2017/jul/tax-planning-opportunities-final-tax-return.html
  9. Congratulations! I hope the arrangement you settle on works well for you.
  10. Was it this one?
  11. @MAXW I sent Eric a link to this topic.
  12. Fabulous! She did a wonderful job.
  13. Maybe so. I have been on a personal crusade this past week.
  14. Can you elaborate on exactly what is wrong? I have a client that does a backdoor Roth every year and didn't notice anything. I'll have to go back and look at that return, but not tonight.
  15. Right now there's a little shield in a small blue circle at the 2 o'clock position on the edge of Eric's and my avatars. I wasn't on here enough to see if there were more shields immediately after the upgrade that Eric may have disabled, but I believe that is what he was referring to.
  16. That's interesting! You've had problems with this site's appearance and postings before that no one else had and that seemed specific to your machine. These are questions that I can't answer that Eric would have to address. Perhaps there are settings in our individual browsers that the site uses to format its appearance on our individual machines.
  17. Can't explain that. I have Win 10 and this site looks identical on both Firefox and Chrome.
  18. Where to find "donate" depends on the platform you are using to view the forum. If using the desktop version, there is a clickable "Donate" in the blue banner at the top of the home page. Mobile versions use the hamburger at the top right as Lion described.
  19. I'm not Lion, but I had trouble last month and had to wait for the IRS letter in the mail to complete the process. The IRS couldn't i.d. me even though: previously had e-services setup in this name and address, have lived at this address with same mortgage for 22+ years, been a CPA since early 1980s with PTIN, CAF, and ERO all in same name, and have had the same phone contract and same phone number since I got a bag phone in the late 1980s, and used the VISA credit card through AAA that I've had forever in my name, kind of like the bag phone thing. The only thing I can think of is that the phone and credit card were initially acquired in my maiden name, but have both been in my current name since the early '90s. With all of that matching, it's very frustrating that the IRS still can't i.d. me.
  20. SMLLC's operating as sole proprietorships would follow the federal filing and file a Sch C for PA purposes. For LLCs that are taxed as C corps, PA would expect a corp return PA RCT-101 to be filed. Also, for periods prior to Jan 1 2016 for LLCs including those being taxed on Sch C as disregarded entities, PA required filing the PA RCT-101 for the Capital Stock/Franchise Tax. https://revenue-pa.custhelp.com/app/answers/detail/a_id/1382/related/1 https://revenue-pa.custhelp.com/app/answers/detail/a_id/972/related/1 I think it is odd that PA is asking for a 2019 corporate return. Maybe some of our PA preparers will chime in with more information on this specific issue.
  21. Instructions for tracing are on the IRS page that follows. https://www.irs.gov/newsroom/questions-and-answers-about-the-first-economic-impact-payment-topic-f-payment-issued-but-lost-stolen-destroyed-or-not-received
  22. @Terry D, As for problem #1, keep trying to fax it and keep a copy of the transmission log. Also, even though you've prepared a written response with documentation, be sure to include the page that has the 3 boxes where the client indicates no agreement, partial agreement, or agrees to all the changes. See my response on that immediately above. Each of those tells the IRS' computer what type of response you are sending to the proposed changes. For problem # 2 suggest either you or the client check the online transcript of account. Even though the 1st stimulus payments were made by direct deposit that does not mean that the 2nd payments were made in that same manner. Checks could have been lost in the mail or prepaid debit cards assumed to be junk mail. I agree with Deb that a trace may need to be put on the payments if clients' accounts show they were paid. Several of my clients received stimulus payments that were not in even dollar amounts and they assumed that it was the prior year's tax refund, and told me they never received the stimulus payments.
  23. The same thing happened to a new client couple of mine this year. They received a CP2000, handled it themselves, and made payment in agreement of all changes. The IRS computer never cleared it from its system because they failed to send back the page with the box marked agreeing to the changes. I was lucky to get through to an agent on the practitioner priority line who explained what happened and was able to see the payment in their system.
  24. Technically speaking a husband-wife LLC can be treated as a disregarded entity but only if in a community property state. The problem is for those not in community property states, then the IRS would be looking for a partnership return. It's been about 6 years since I originally wrote this, but here is a quote that I continue to repost each time this subject comes up:
  25. It goes on line 13g of Schedule K for "Other Credits", and use code letter "O" is for backup withholding. It then flows to Sch K-1, box 13, also code "O".
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