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The place to find out is looking at the Sch D Tax Worksheet in the instructions to Sch D. Scroll to the bottom of the index at the left of that page I linked and you'll see the Tax Worksheet is the last item listed. In your scenario above, I believe the long-term would be what is used in the calculation because the first reference to starting to carve out gains receiving the preferential cap gain rate is where it says that lines 15 and 16 must both be gains, and on line 7 of the Sch D Tax Worksheet you enter the smaller of the lines 15 and 16, and that means the LTCG on line 15 of Sch D in the case you presented. That's a very general explanation and you should work through the worksheet or run a tax projection from last year's program because there are a lot of figures that factor into this calculation.

I am totally paperless, and I always keep pdfs that serves as the archive copy. The reason to do this is because program updates, law clarifications, and retroactive law changes subsequent to filing can change any return that is generated by the program when it is reopened. I use the document manager and print everything to pdf that I then print the client paper copy for them. The client copy pdf is usually an abbreviated copy where I've decided what is necessary and also those backup worksheets ("keep for your records") that I deem useful to provide, and that pdf contains exactly what is given to them. The preparer copy pdf has much more: the entire return plus all of the computer-generated notes, preparer notes, due diligence, backup worksheets not actually e-filed, and transmission reports.

If you are filing form 1128 for an existing S corp, the instructions to that form says that if you are changing the accounting and tax reporting year to a fiscal year under sec 442 and reg sec 1.442-1(b), then you are to follow Rev Proc 2006-46, and section 7.02 item (5) of that Rev Proc says this:

There are authenticators that will send 2FA via text or phone call, and Google's authenticator has an extension that works in Chrome, but those would be for accessing web-based internet site, or sites that don't need to scan a QR box for setup. Using a web-based extension within a browser or desktop version, how would it be possible to scan the QR box from the ATX program's screen to receive the initial setup/pairing code without having some sort of mobile device. The mobile device must have QR scanning capability and the ability to download and install the authenticator. @G2R and @TAXMAN A tablet would also work, and it would need to be modern enough to download the app and have QR scanning capability.

Which one, and at what point are you stuck? Here's general instructions that I posted in another similar topic: 1. Install ATX on your system. 2. Download the authenticator to your mobile device. 3. Open ATX 2024 and create your password. It should bring up a screen with the QR box to scan and a box to enter the initial authenticator code. Leave this screen open and go to #4. 4. On your phone, open the authenticator and click the + button and point the camera at the QR box. It should scan the QR and automatically set up "ATX 2024...." and generate a numeric code to enter into the ATX program. This is the initial code that pairs your software with your mobile device. Enter that code into the box in the ATX software that you opened in step #3. It should be paired now. From then on when you open ATX, you will enter your password and then it will ask for a 6-digit code from the authenticator. Open the authenticator and look for the one that says "ATX 2024" and it should have the 6-digit code to enter. That code is good for 30 seconds and will automatically refresh every 30 secs. Make sure the clocks on the computer and the mobile device are the same, otherwise the codes will not be in sync and may not work because of the 30 second refresh rate.

The free ones will generate the codes and meet the needs of logging into the tax software. The paid apps may offer more advanced features like secure backup, syncing multiple devices, password management & integration, etc.

Yep, Abby is correct. The open years that can be amended are 2021 through 2023. Maybe the poster was thinking about the years that can be e-filed, which are the current year and previous two years, which means that the amended 2021 S corp and personal returns would have to be paper-filed. The amendments for 2022 and 2023 can be e-filed.

Like the one below that I recently shared. Sorry it's so big. Look at the "a" in the portion for "bank" in each of the examples. Best practice is to never ever click a link in an email and never respond to a fraud phone call from a bank or credit card company that calls you because the thief can spoof the caller i.d. Always place the call yourself using the number on the back of your credit card or monthly statement.

That may be true when using the app to access websites, but I wonder if there is an additional security layer of device centric pairing built into the ATX software or some sort of syncing that would be necessary. mcb39's experience seems to indicate that the former is the case. I don't have multiple computers any more to test on.

If you have already successfully set up one user, then in order to access the second QR box you would need to create a second user with a unique user name. That second user can use the same phone or a different one, but that phone would be paired with that machine.

That totally makes sense and is a very good idea too.

In general, casualty and theft losses for years 2018 through 2025 are only deductible if related federally declared disaster, and specifically for theft losses, those losses are currently only allowed for those losses that resulted from transactions entered into for profit. If the loss was from an investment type scam, then it may be deductible, but the original post didn't say what lead to the loss except that dementia played a part and that the funds came from an IRA.

@mcb39 I think you can't access each other's admin account on the others computer because the mobile device is paired with that installation/machine. @BulldogTom I'm curious if you've tried to load the new program on the laptop and access it using the same user/password/authenticator combo as you desktop.

Install ATX on your system. Download the authenticator to your mobile device. Open ATX 2024 and create your password. It should bring up a screen with the QR box to scan and a box to enter the initial authenticator code. Leave this screen open and go to #4. On your phone, open the authenticator and click the + button and point the camera at the QR box. It should scan the QR and automatically set up "ATX 2024...." and generate a numeric code to enter into the ATX program. This is the initial code that pairs your software with your mobile device. Enter that code into the box in the ATX software that you opened in step #3. It should be paired now. From then on when you open ATX, you will enter your password and then it will ask for a 6-digit code from the authenticator. Open the authenticator and look for the one that says "ATX 2024" and it should have the 6-digit code to enter. That code is good for 30 seconds and will automatically refresh every 30 secs. Make sure the clocks on the computer and the mobile device are the same, otherwise the codes will not be in sync and may not work because of the 30 second refresh rate.

Mod note: So that this topic remains useful for the members using ATX, I have moved all of the posts specific to using an authenticator app with Drake software to a separate topic of its own in the Drake forum.

Somehow we may be miscommunicating about this, and I'm not sure why you think I have the MFA turned off, if that other post was directed to me. I have turned on for all user accounts and for all years installed on my desktop, currently 2019 through 2023. I also just checked each user log-in for each of those years, and I was able to log in and open the programs by entering my password and then entering the 6-digit authentication code from my phone. In order to turn MFA on with the initial set up with my Google authenticator FOR EACH PROGRAM YEAR AND EACH USER: I had to scan each year's QR box once, get the initial 6-digit code setup code from my phone one time for Admin account, and enter it in the software. Then I had to repeat all of that to set up my individual user account. AFTER THAT INITIAL SETUP, with each log in I have to open the authenticator every time I log in, get the 6-digit code that is displayed, and enter that into my program for it to open. I will have to go through the initial setup of the authenticator again when I load the 2024 program, once for the admin account, and once again for my individual user account. Since starting to use the authenticator, I have never had to "reload" the app for any prior year; it just continues to work when I log in and open those old programs and enter the code.

Today's email from Drake say that the initial release for 2024 is now available.

I have authentication going back to the 2018 software and have never had to "reload the app", whatever that means. It does require scanning the QR code for each year for the one-time setup to initially access the software though. Then use it as usual.

It works and was easy to set up. I have everything set to automatically update, so I am not aware of how often that has happened. I haven't noticed anything odd with the phone, and that app has been on it for years now. Google's app does collect data though, so if that is an issue, maybe consider a different one. Article from PC Mag about the best of these apps for 2024 with pros and cons, on what devices they work best, and if they require an account. If you don't like the link, search for "best authenticator apps for 2024" and the article should be near the top of the list. https://www.pcmag.com/picks/the-best-authenticator-apps Some that are listed may or may not be recommended by your software.

Fwiw, I use the Google authenticator. It's free.

If the laptop is offsite, you won't be able to both be logged in at the same time using "Admin" as the user and using one phone. You could set up second or third user(s) for the laptop that also has admin privleges, but that will still require those user log-ins to have an authenticator code to open the program.

Ahh, one last tip, yeah probably not. The clock on the computer or laptop where ATX is installed must be the same as the clock on mobile device where the authenticator is, otherwise the 30 second interval of expiration of the code won't be in sync.

This topic from 2 years ago said the standard ATX site license was for up to 3 users. Tom, does your wife have her own log in for ATX? Here's a Drake video that shows the setup of an authenticator. From reading the ATX instructions in my earlier post, it is the same, but maybe seeing it on the video will help. Early in the video is specific to Drake, but start watching from the 3:00 minute mark to the end for the authenticator setup and subsequent log in. It really isn't difficult once you see what should happen. Also, sorry for all of the posts. https://support.drakesoftware.com/Video/mfa-in-drake-tax

This is the link to CCH's page explaining it. https://files.cchsfs.com/doc/atx/2024/Help/Content/Both-SSource/Login and Passwords/Using MFA.htm The next post is the document from above link, in case you don't trust it.