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jklcpa

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Everything posted by jklcpa

  1. I had a woman stop by to drop off her sister and BIL's return. When I asked if she'd be bringing her own return she told me that her husband thought I was too expensive last year. They are PA residents, both she and husband work in DE, and she needed local returns also having the out-of-state credit, and a tax projection. So the return had 2 w-2s, 7 1099's, a brokerage account with activity, state tax refunds, a canadian pension that had to be converted into US dollars, social security, foreign tax credit, itemized deductions, all activity had to be split for the nonresident DE returns. The total was 1 federal, 3 state returns, 2 local returns and the projection. I charged her $260. What do you think HRB would have charged for all of this work? I guess she'll find out!
  2. That printer icon merely reformats the page for easier printing. It will bring up a printable version of the entire thread. Simply right click within it and choose print, or you can use the "print" function from the drop-down within the File menu, or any printer icon you may have on your toolbar should also work.
  3. See my post above, I think we were typing at the same time. Sounds like she has SE health ins deduction, an HSA contribution deduction, and needs to fill out the 8889 and 5329 too.
  4. Did she pay for the premiums from the HSA? Lion is correct that those should have been paid with funds other than from the HSA. The exceptions are health insurance continuation coverage premiums paid under COBRA or premiums paid from HSA while unemployment are allowed from an HSA. If she didn't paid the premiums from the HSA and she has a profit, she can claim the self employed health insurance deduction. Pub 535 says that would include health insurance and dental premiums paid. I'd probably include the drug coverage too since many health plans contain drug coverage, but she happened to purchase a separate policy. Then she might also have a deduction for a contribution to an HSA, if she put funds in there. Client most likely won't receive the 5498 until May because it's possible to contribute to the HSA through 4/15 for the prior year. Payments made out of the HSA would be reported on the 1099SA and are reported on Form 8889, line 14a. If all payments were made for allowed medical expenses, that same amount is on 15 and the form zeros out. If she paid the premiums from the HSA, that amount should not be on 15 and she will pay 20% on those payments that shouldn't have been paid from the HSA. IF she overcontributed, she has until the due date including extensions to withdraw the excess and any earnings. Any excess not withdrawn is subject to the 6% excise tax each year until she either withdraws it, or if in the next year she doesn't contribute the max and allows for that difference. If you fill in the Form 5329 for the excess this year, and she had not prior year excess, you would start with line 47. While on that form, take a look at lines 42 through 46 to see how it will work next year if she doesn't contribute the max for 2013. I have a client that overcontributed by about $500. It amounts to $30 in tax and client thinks it a hassle to withdraw, so he will leave the $500 in and deal with this on next year's 5329.
  5. Yes, there is a simple way. Scroll to the bottom of the page where you'll find a printer icon (in with the ones for twitter, facebook, etc). Clicking on the printer icon does not print at that point but converts the screen to a printable one and from there you can print as usual.
  6. If you are trying to open an exported file, you could try the backup version instead. Also, sometimes I'll have more than one backup file for the same client because I will rename a file if I'm doing future year tax projections with hypotheticals or multiple scenarios. In those cases, the original return is unchanged and only the planner is different. Would you have any file like that for your client?
  7. If you reinstallled 2009 from the disks, try updating the forms & program through the program update before trying to open the client return.
  8. I have one in front of me right now like what Pacun is asking. The client received an explanatory statement along with their refund check last Sept that the total refund including interest was $1431.12. Separately stated on that notice is the interest portion of $7.12. The remainder is $1424 that agreed with the refundable tax on the 2011 state return that was filed. The 1099G from State of DE is for the higher amount of $1431.12 that includes the interest income. This is a new client to me this year. Their return was filed on time but it seems there were missing documents that didn't get filed with the return last year. The taxpayer had telephone calls and followups notated, and in the end got the filing straightened out with the State, and the return was not adjusted or changed. The delay in issuing the refund had nothing to do with the state, but was entirely a problem that was caused by the former preparer. The State paid the interest on the refund being delayed by 5 months. So, like Pacan, do I show the $1431 reported on 1099G as the state refund or the $1424 with $7 on Sch B?
  9. jklcpa

    Burned out

    You've received good ideas so far. Also, the owner could ask the employees if they kept copies of pay stubs that might have YTD amounts on them that will help tie in payroll. If the company used an outside payroll processing service, those records can be easily obtained.
  10. I've had a couple of friends switch to different numbers only to find out that the second number was even worse. One friend was also receiving lots of collection calls and calls for back rent for the previous owner of the number. The other friend receives many calls from "patients" for some so-called doctor to get Rx of pain pills refilled. Probably some drug pusher and not a doctor at all. ETA - as far as having the numbers blocked, I've done that through the phone but there are now so many that the phone gave a warning that the max limit of stored blocked numbers had been reached.
  11. My mother is 86 years young and has had a cell phone for about 2 years that she has for emergencies only and that she carries with her when she goes somewhere by herself (and hopefully she remembers to take it with her!). Apparently that phone number used to belong to someone that has ongoing credit problems. At least once or twice a week my mother gets collection calls that are coming from a variety of collectors or the companies themselves. About a year ago I got the name of this deadbeat woman when one collector asked to speak to J---- T----. If the phone rings when I am there, I try to explain and the caller says they will remove the number from their records but I doubt that they do this. Most of the time I am not there to deal with the call and this is upsetting for my mother. She hasn't given the number to anyone except to me. I know that she could simply turn off the phone, or she could request a different number that might be even worse, but that isn't the point. Someone suggested that she write to the 3 credit reporting agencies and that her number would be disassociated from the person with the debt collection issues. Does anyone know if that is true, or does anyone here have any other suggestion as to how to stop these calls?
  12. I'm not sure what the question is all about with the boat being purchased from a CA LLC and related party transactions being referred to in the OP. Could he be asking about the sales tax paid on the boat or about it being used as a second home for mortgage interest deduction?
  13. The issuance of the 1099 could also be because the teacher's W-2 was issued for the amount to agree with his or her contract (for union purposes or financial audit), and so this was dumped onto the 1099. I'm not agreeing with it, just that I've seen this before. I had a teacher client that was an athletic director that received two W-2s from the same school. The larger one was for the regular school year covered by his contract and the second W-2 was for the summer program. I know of an electrical contracting company where the owner reported all the bonuses to the employees on 1099-misc because he said he couldn't give the electricians any bonuses to be included in their W-2s without violating the contract negotiated through IBEW. Even the office personnel bonuses were on 1099s. At least that was the story that was told to me. Maybe the bookkeeper *forgot* to include in the W-2s so no withholding would be taken out (we've probably all seen that before) and then decided to issue the 1099s. BTW, this is not my client.
  14. If you are using ATX, did you reopen the return to see that the transmitted return matches your file copy? It is possible that the program deleted some data. That was a problem with unemployment benefits before some of the updates came out. Also, have you rechecked the return to verify all the figures and that you don't have a typo somewhere?
  15. Is your client in the business of being an estate administrator?
  16. jklcpa

    Decadence

    I had dinner at my mom's and broke away for an hour to watch The Walking Dead. I feel like one of those zombies on the show. lol Tomorrow I'll have a break while I take Mom to see her podiatrist.
  17. This is on the intuit community forum, appearing to be answered by a host. Maybe that was hacked also? http://community.intuit.com/posts/minnesota-in-having-a-conference-call-at-5-pm-today-regarding-intuit-with-lacerte-proseries-and-turbo-tax-they-are-requesting-we-dont-file-anymore-minnesota-state-returns-because-of-multiple-errors-what-is-going-on Googling "Intuit & Minnesota" brings up all kinds of news agency links to articles. Those might be in error too, I suppose. It wouldn't be the first time news publications and websites reported something in error.
  18. If ATX isn't completely fixed and the user wants to look at the 2012 return in an electronic format next year while working on 2013, I'd suggest printing 2012 to pdf and looking at that instead of opening the return in ATX. It won't be as convenient as being able to look at the actual input, but it would be quicker than waiting with the slowness of this year's program. It's bad enough for you all that are living through this now, so why torture yourself with it again next year?
  19. If it goes through the CAF like the 4868s do, then it takes some time to show up in the system. However, when I filed the 4868s through e-services, I called in right afterwards and the agent gave me a direct fax number to send in the POA while I was on the phone with her.
  20. IRS shut efile down from 1am-7am this morning for scheduled maintenance and testing. The delay may have something to do with that.
  21. Eric, I've only ever used IE, currently IE9. I've never experienced any problems before yesterday morning that you said were on your end. The little bit of other slowness was because my virus scan had started and I didn't realize until later what was going on.
  22. "Losing TOTAL faith that anyone at CCH gives a flying flip about us." I never thought they did! The sales rep I spoke with about a week ago to request my refund told me that my clients should be willing to wait for ATX to get their programming corrected. I was boiling over but tried to remain calm to get through the conversation and get off the telephone with him.
  23. Yes, it would if the trust still existed at the time of the grantor's death. I had the date of the transfer to the wife wrong in my original post above. I checked my file and the reason no filings for an irrev trust were done was because at the very beginning of Jan 2011 and before any activity took place as far as dividend payments or any sales transactions, the husband transferred his entire stock portfolio into his wife's name, including this one managed portfolio of foreign stocks that made up the entirety of the assets in the rev trust. He died in mid April, 2011, so at the time of his death, the rev trust no longer had any assets and had no activity for 2011 belonging to him to report. That is why there was no K-1, and why I asked the question. The div paid in 2012 was for stockholders of record sometime in 2010. Sorry for the confusion. Just to add, they did all this completely on their own without consulting any attorney or any of their advisors that I know of.
  24. Not correct. To be a qualifying child, in general: 1. must meet relationship test, AND 2. younger than you and either: under 19, or under 24 and a student, or any age totally & perm. disabled AND 3. did not provide over 1/2 their own support AND 4. Not filing joint (or only filing joint to get taxes w/h refunded) AND 5. lived with you more than 1/2 year.
  25. No, a rev trust is a grantor trust and does not file a trust return. The income is reported on the grantor's tax return. At this point there is no trust, the estate work is completed, there is only this one dividend.
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