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Here it's going to depend on the client's situation because DE allows itemizing while claiming the standard deduction for Federal purposes. Also, since DE doesn't allow its own state income tax as a deduction but does allow r.e. taxes and other states' taxes if claimed as a credit as a payment on the DE return, we will also have a prorating calculation to determine the amount of deduction allowed for Federal purposes when that category is affected by the $10K limitation that will be similar to when the Pease limitation affected total Sch A deductions allowed. That is on top of the new pages due to the "postcard" format of the 1040. It shouldn't be too difficult to sell clients on an increase since many of my costs have increased including the cost of the tax software itself and internet access.

Yes, it was still working but the HD was getting slow, either probably bogged down and either needing to be replaced or at least a clean reinstall of the OS. Two minor things not working was one slot of the SD card reader not making contact and the scroll wheel on the mouse worked but seemed like it had a worn spot. I haven't turned it on in a while but could do so to check it while I still have the monitor, if you'd like. I have all the specs, if you think it's worth more than for target practice at the range: Dell 8300 XPS, was running Win 7 64-bit i7-2600 3.4 GHz processor, 8 MB cache 12GB dual channel memory DDR3 SDRAM at 1333MHz - 4 dimms, AMD Radeon HD 6770 video card, 1.5TB SATA-II, 7200 rpm 32 MB cache HDD 2 additional USB 3.0 ports 16X CD/DVD burner Dell 1520 WLAN PCIe care w/ 11n mini-card separate audio card, Soundblaster S-Fi Xtreme Audio Wireless keyboard & mouse Monitor is Dell 24" UltraSharp U2412M

This has me motivated to get some old equipment out of my office, so my prior 24" monitor is going on FB marketplace but never know what to do with the computer. Is it enough to pull out the hard drive, and what do others here do with your old machines? After reading that some of you are still looking for Win 7 or 8 machines, I wish it would be possible for someone else to still use this. What can I safely do with it?

Re: selling on ebay - you can search for a product and then see the prices of the ones that actually sold. This is done by scrolling down the filters at left and look for a heading that says "Show Only" and by choosing the filters in that section for "completed items" and "sold items."

This is wonderful to hear that your surgery is behind you and you are doing well!

Thank you, and Happy Thanksgiving to you too and to everyone here on the forum!

At the top of the 4562 screen, make sure that the form shown in the "For" box says "AUTO" and not the Sch C. Also, do not enter the business use % on the 4562 screen. You shouldn't have to force the mileage but you can. Once you have the 4562 linked to the auto worksheet, the 4562 should not be produced since the entries won't appear there if the mileage is higher, but the depreciation amount and the business % should show up on the auto worksheet for inclusion in the comparison of mileage vs actual and pick the higher of the two. The Sch C shouldn't have an entry on the depreciation line, only on the auto line if mileage is higher. Try it without forcing first to see if it works. This video from Drake's KB may also be helpful. The result in the video is that actual expense is higher than mileage so there are entries on both the auto and deprec lines of the sample Sch C and the layout of the auto exp worksheet has changed slightly since this video was made, but the input and concepts are still valid. https://www.drakesoftware.com/service-learning/videos?video=70

Ah, glad you figured it out! For the W2 deletion, open that screen and then right click. A pop-up box will appear with lots of choice. About mid way down is "delete screen" and it will ask if you are sure. You'll see there are keyboard shortcut for each selection too, so another method is Crtl-D. Once you delete the W2 input screen and the system takes you back to the main screen, that input screen should have turned black in the list. The ones in use appear in blue.

Exactly what Max was saying. It should look like the image below except that yours should have "E" in the Form column and the number of the property that the asset relates to in the MFC column. You can enter on that screen for any that are missing too without having to open the asset detail.

On the 4562 screen at the top, for each asset, you must specify the form it goes to (Sch E in your case above), and then in the "multi-form" box, you would enter "1" for the first property on Sch E, "2" for the second Sch E property, "3" for the third, and so on...for each asset.

Copied from another post. Thank you @Ringers

Copied from another post. Thank you @Max W

I have several elderly in this same situation that I visit at their homes, lifelong friends too so I am willing to help in this way. They have adult children that drop off or send scanned documents, ask my questions by telephone, and then I make one trip for delivery of the product and getting the e-file authorizations signed. It gives me a little break out of the office to deliver, and I try to combine the trip with something else to lessen the burden of being out of the office just for them.

Seriously, I hate searching on the IRS site and can't find directly because it brings up about 40 pages of unsorted stuff. I have better luck with Google, and this time it was "OIC and installment plan" and looked for the best link. It just happened to be the IRS site this time. It looked like a pretty good page of info too. Hope it helps..

Answer #5 from the first section of this IRS page: https://www.irs.gov/businesses/small-businesses-self-employed/offer-in-compromise-faqs

You could check to see if there's an updated driver available for your hardware, and be sure to make a restore point beforehand in case something goes wrong and you want to roll back to the earlier driver.

Congratulations on the sale and retirement! I hope it is a smooth and easy transition for you and the clients.

Did the documents and agreements include the business setup and agreement to share in profits, losses, and expenses, or was the documentation you refer to the loan agreement only. I'm trying to determine if it really was a de facto partnership or a joint venture, either of those requiring a return for the business.

I got it directly from an email from IRS (Newswire that was IR-2018-218), and it's also in the IRS' MeF status section on this page: https://www.irs.gov/e-file-providers/modernized-e-file-mef-status-page Scroll to the section at the bottom under "1040 MeF Production Shutdown/Cutover Schedule" that also shows the times of cut off for submissions and retrieving acks, state submissions. Please note that that same section mentions business MeF shutdown that has NOT been updated yet and is still showing the Dec 2017 shutdown date.

The e-file shutdown will begin on 11/17 to allow for annual maintenance and reprogramming for the upcoming 2019 season.

So that we have all of the pertinent information to help Darlene get to the correct answer, below is a link to the original post and story from this summer that may help with this discussion and that has more information and some answers already given back then. @DANRVAN, you had answers in that topic too, and I agree that the insurance should probably be included on the S corp return. Darlene, if the insurance proceeds are reported on the S corp books as Dan said, then the casualty gain is part of the S corp, and since it is on sec 179 property in a passthrough, you should take a look at the form 4797 instructions that tell you how to report it. Basically, the details of sec 179 property sales and transactions will end up being a separately stated item on the S corp K-1 with a detailed schedule that is given to the shareholder with the K-1, and all of the details of the transaction and gain are reported on the shareholder(s) return. But, you have to do the entries in the 1120S corp program so that it flows properly on the K-1 and so that the detail schedule are produced.

Sending you a PM.

If you have Excel, use F1 for help and search for "XNPV", then click on the link there for the instructions for that function. Scroll to the bottom of that article for an example of how to set this up. You'll need to enter the discount rate too.

I would say that both documents should be reviewed for their wording and intent. First look at the separation agreement to determine if that alimony was open-ended or if it says that it will be redetermined when the final divorce decree is signed. Then also look at the final divorce decree to see if it references continuation of the earlier agreement without change, if indicates that that earlier agreement will remain in effect, or if there is some sort of modification that will use the new provisions of the TCJA. Quoting from a topic ~ 2 mos ago:

Nice features that work very well.