Crank

Every 1040 return generated incudes a Puerto Rico Information input form. I spoke to Jeremy in support who did a screen share and couldnt explain why it was showing up or how to remove it. It appears in the forms used tab. It doesnt seem to have any impact on the return but I havent completed an efile yet. He said he heard of it happening to other users and would get in touch with TaxWorks to discuss the issue.

Is this happening to anyone else?

Thank you so much for the replies.

I just knew that it seemed like double dipping. So basically the books paid out of pocket (not through a QTP distribution) will qualify for the AOC credit. I was really wracking my brain over this one. Hopefully the remainder of the tax season will be much easier... haha.

Bump.

Any thoughts at all on this would be extremely helpful!

Thanks

Congratulations! I'm a CPA, and like was previously metioned, I'm sure the EA exam is quite difficult even though I haven't taken it. It's a great feeling of accomplishment and welcome to an elite club! You've earned it! :)

Thank you all for the replies.

That may be the option I have to go but I know I had it on this Vista machine last year and over the summer I cleaned everything up and reinstalled Vista. I did try turning off my antivirus and then I booted into Safe mode and set the file properties to run in XP compatibiltiy mode. The program installed to 15% and then hung for 10 minutes so I shut it down. I may try that again and just let it go, who knows it may install after a longer time period. Still kind of crazy that ATX says they arent supporting something that was purchased and is still valid for this year for doing amendments

Trying to install the 2007 version of ATX (for amended returns) on Windows Vista. The program starts to install but just hangs at 0%. I called tech support and they said it only runs on XP not Vista but I had it running on this Vista machine last year. Also,they wont elevate the issue because they are only working on 2010 TY software which seems a little ridiculous since I paid for the program and I need to do an amendment in 2010.

If anyone knows how to get this installed please let me know.

Thanks

If a TP uses 529 Qualified Tuition Plan (QTP) funds to pay for the 1st four years of college does this sound right for also claiming the American Opportunity Credit?

Education expenses paid from QTP $12,000

Books paid out of pocket of $1,500

Total Qualified Education Expenses $13,500

QTP Earnings $4,000

Qualified Expenses= $13,500 - $4,000 applied to the AOC credit = $9,500 Adjusted Qualified Education Expenses

Tax Free QTP Earnings Distribution = $9,500 / $12,000 = 79.17% x $4,000 (QTP Earnings)= $3,167

Taxable QTP Earnings Distribution = $4,000 - $3,167 = $833 to Line 21 Other income.

So the taxpayer would get both the Tax Free earnings from the Qualified Tuition Program (79% of the $4,000 or $3,167) & the full American Opportunity Credit of $2,500.

This is what I get from page 68-69 of pub 970 but it just doesnt seem right as the taxpayer is getting the full AOC credit plus $3,167 of tax free earnings fromn the QTP which seems like double dipping to me.

Is this correct or not?

The alternative would be to ignore the $12,000 QTP since it was used for Qualified Education Expenses and apply the $1500 paid for books "out of pocket" to the AOC.

Any help is greatly appreciated. Thanks

I prepared an return yesterday and did not efile it since it has the Schedule A warning. I will have to wait until mid-February.

For printing, I select the forms I want to print and select go.. Processing went smooth.

I havent done a return yet but I too am somewhat confused by the different printing sets. Ill probably give them a try but end up using Ed's method of printing just the forms I need ... thats what I did for over 10 years with ATX.

Your probably correct. Thanks and same to you.

"The TRX Pro 1040 Reference Manual" addresses these buttons on page 69 (page 83 of the actual pdf) so thats why I asked about them. They probably just copied the TaxWork manual and forgot to omit these buttons.

Thanks Ed. I have veiwed these videos. I was refering to the TRX traing videos as they maybe somewhat different from TaxWorks.

TRX documentation shows that the "Advanced, Lite & EZ Buttons" are on the top of the "General Information" center pane of the program but I only have "espanol" button. Does anyone have these buttons? They are on TaxWorks.

Called TRX 1-11-11 and they said the RIA Research link should be operational by 01-15-11

Also I asked about loging into "Online Tax Training" (2nd button down on the left side of the TRX Home screen). It asks for a login but doest offer to register. They said this also should be operational by 01-15-11. You would think that the training videos would be available BEFORE tax season. Hard to believe they wont let us register for this now as the page shows that there are videos available. Has anyone logged into this?

Not working for me.

Please read my previous post below.

Mike Dubin CPA

In Topic: ATX Conversion Software to TRX 2009

17 December 2010 - 06:36 PM

Got it Mike, Thanks

I have been viewing the TaxWorks manuals, training videos, etc. to better understand the TRX product. They are similar although the TRX product is a somewhat less functional version of TaxWorks. TaxWorks adds a 5th viewing pane to the main input screen, of the actual IRS form, so you can view it without having to "Flip" or Peak". So far I havent found how to do this in the TRX version and it may not be possible.

One undocumented feature I found in the TRX version is the ability to mark a field as an estimate using "Ctrl-E". TaxWorks also allows this via a right click menu option. While this is a desired feature I haven't found anyway to view all estimated amounts in TRX or even if it will stop the filing of a return with unresolved estimated fields ... so it may be useless.

If anyone has found any other undocumented features in TRX that are in TaxWorks please post them.

Additionally, I am hoping that the "local" or "city tax" forms are expanded to include the most common Pennsylvania forms. Right now it is limited to extensive Ohio locals and limited Pa forms (Phila, Pitt & a generic)

Thanks

I received a disc from TRX via UPS from which I loaded the software.

The software deal that I sibsribed to is as folows:

THIS IS WHAT YOU WILL RECEIVE WITH THE RENEWAL AND THE ADD ONS THAT YOU WILL BE GETTING FOR 2010 AND AS LONG AS YOU RENEW BEFORE MAY 1ST.. THE PRICE WILL BE ONLY $ 299.00

All 1040 fed forms w/ Free Efile

All State 1040 forms w/ Free Efile

All Business forms w/Free Efile

All Entity Forms w/Free Efile

MULTY OFFICE MANAGER

RIA Research

Client Write Up w/ Payroll (TRX)

Fixed Asset Manager

DOCUMENT MANAGER

I downloaded the business management software a few months ago.

I just recently downloaded the accounting software.

I have not had adequate time to review so I can't give my opinion until such time as I can.

Good luck

Mike Dubin CPA

Thanks Mike,

Hmmm, I got basically the same deal but it made no mention of the following:

MULTY OFFICE MANAGER

Client Write Up w/ Payroll (TRX)

Fixed Asset Manager

DOCUMENT MANAGER

They did give me "Accounting Software" which I just downloaded from their site but it is in demo mode and I need to register it for it to be fully functional so I am not sure what is included in it and they also told me that the "Business Management Software" would not be available until after January 1st 2011.

I received my 2010 TRX software and as I had previously reported my issues with the 2009 conversion software, I am happy to report that they have listened to many of our complaints and made quite a few corrections. I don't think it will ever be perfect but appears to be a lot more user friendly to me.

Although I was expecting TaxWorks, they have provided 1040Works which is a somewhat toned down version of the former. The content and comprehensiveness of this package is very similar, most of the missing features are more functionality related. Some of the features that are missing are viewing multiple years in one screen, having the actual tax form in reel time on the same screen, etc. For example they provided an asset tracker, not a fixed asset program which on the surface appears to be quite comprehensive. I was a bit disappointed with this solution as they originally advertised a fixed asset manager.

In addition they also provided me with their home grown accounting as well as business management software and RIA research. I paid $299 for all of the above which I estimate the true cost to be about $2,000. I will play with these when I get some time and let all of you know the outcome.

It would be comforting for me to have some of you follow suite.

Happy holidays to all.

Mike Dubin CPA

Mike,

Did you download the accounting software from the TRX homepage? Also, where did you get the business management software? I got the premium $699 for $299 so I think we have the same program. Also, my RIA Research link isnt functional. Is yours?

Thanks

I jumped ship this year and went with TRX (TaxWorks). Well see how it goes. Been using ATX from back when it was Saber. They just got too expensive.

Sorry to hear about your problems. In over 20 years I have never been stiffed by a client. Ive had some pay me over time, but very few. This year I had a long time client who's husband had lost his job and up front told me that she couldnt afford to pay me. I did the return and told her to pay me when you can and what you can, I even gave her a very good discount. She paid the bill within 90 days without me ever sending another invoice.

Basically, if the person seems honest I take the chance and try to help them out .... I know what its like to be hit by financial hardship, with me it was a medical hardship. So far it has worked out just fine. I feel if somone stiffs me then I probably wont see them again and who know's they may be embarasssed about their situation.

I just posted on the General Chat link that I met with Tax Works Red Gear at the Accounting Technology Show in NYC last month at which time they indicated to me that TRX has a five year contract with them.

I hope I received the correct information as I too do not wish to go through additional conversions and learning curves in the near future,

Mike Dubin CPA

OK, the first post has been removed. What was this big announcement? I switched to TRX (taXworks) for the upcoming year.

My ATX to TRX conversion didn't pick up the accumulated depreciation. I had to go back and put that in by hand.

How are you doing the ATX to TaxWorks (TRX) conversions when it hasnt been released yet?

Count me as an ATX to TRX convert for the 2010 TY. I just signed up yesterday at the $299 forever price. I played around with the demo by recreating some of my 2009 returns to compare the results, easy of use and the time to prepare the return. It did take me a while to get used to the input method vs the ATX forms based method so the prep time was longer in the beginning but decreased as I became more familiar with the software. I also attended the daily webinar they host which was helpful. Additionally I watched the training videos on both the TRX and the TaxWorks sites.

The version being sold by TRX has some differences from the TaxWorks version in both functionality and terminolgy used but its basically the same. TRX uses the "Peek" button to look at the form you have been working on where the TaxWorks software calls it "Flip". The TRX screen has four panes: input, output, forms & totals. Taxworks adds a fifth screen which is basically the tax form. It would be nice to see the form change as data is input but it isnt a big deal. And there may be a way to get this fifth (forms) screen on the TRX version.

TaxWork allows marking a field as an estimate by right clicking on the field and selecting "estimate" from the menu, the TRX version doesnt have this ... so it seems, After watching the TaxWorks videos I noticed that you could also mark a field as an "estimate" by the shortcut Ctrl-E .... this shortcut also works in the TRX version so while some items appear to be disabled in the TRX version it appears that they arent totally disabled.

Overall I am happy that I decided to make the switch and I am looking forward to learning the new software and I wouldnt be surprised if I wound up liking it better ATX. It seems like a great bundle of software for $299. I was apprehensive when I switched from ProSeries to Saber (before it was called ATX) back in the mid 90's but it worked out just fine. And I made the switch back then for the same reason that I am making the switch now...COST! ProSeries had gotten too expensive for the size of my practice and Saber came along with an offer I couldnt refuse.

So here's to a long and happy realationship with TRX/TaxWorks.

TRX Gave me until Fri 6/18 to take the $299 package .... Im seriously considering it. ATX is just gotten too expensive. TRX has daily 1 hr. webinars at 11am & 3pm EST to review the product. It different than ATX fro sure but looks pretty good. I figure why not give it a try for a year .... saves me $600 the first year.

I got a call from ATX on 6/1 asking why I havent renewed yet. They noted I have been with ATX/Saber since the mid 90's and that I always renew early. They also told me that Troy is no longer with the company. I told them that they have become too expensive and Im looking at TRX or possibly going back to Proseries (I used them for a few years before ATX)and both are quite a bit less than ATX. They said they can only do the 10% off so I thanked them and hung up.