Crank

27 is old enough to be more sensible than that!

You would think that common sense comes with age but you dont have to mature to grow up. I know a lot of individuals who never matured because they werent required to.

Seems fine so far.

With a lot of these options, there ends up being a small short-term capital loss. All of what would have been the "gain" gets included in the W-2 under that Code V and so is taxed at OI rates. After trade fees etc., there is usually a small loss.

Yes, the loss is usually the fee to execute the trades.

yes its hidden

No change in a few days. Still on 13.3

Where was this when I was in school or studying for the CPA?

A lot of my customer base are prior HRB customers. I easily beat them on price and service. What a rip off. But people want to "Get Their Billion Back!"

I think im going to hold off on this update until the next program update which should be in 24-36 hours as per the blog post.

I have received this error message in ATX 2013 a few times on a new machine with 16GB of RAM. As Jack said, it is resolved by rebooting the PC.

What Jack is trying to say is that ATX is a piece of shit and hogs resources because it is not designed properly and the only way to combat this is to restart ones system.

This comment really cracked me up.

Yes, it still takes a lot of space. Jack tells us the new program is better and requires the additional space. But I wonder about the program compared to other programs, why the need for more space in comparison to other programs. In the long run, I don't think a 256gb HD is sufficient.

I agree that the 256 GB C drive wont be sufficient in the long run. I just purchased the machine in late 2013 and also have a 3TB D drive. Had I known about ATX only installing to the C drive I would have configured it differently. All of my other programs are located on the D drive.

I know this has been previously discussed and it was to be rectified in a program update (and it appeared it was) but I noticed my free disc space has shrunk by about 15GB over the past day or two. I only have windows and ATX on my c drive (256GB SSD) and I monitor the free space frequently. Has anyone else noticed this.

Create the K-1 return first. Then create or open the 1040. In the open 1040, from the drop down menus choose >Return, then choose > Import data, then choose > K1. Worked for me.

Jack, When I do this nothing appears in the window. Is this correct? It still backs up to local storage but the window that appears does not have any returns listed. Should it?

My bad. The 50% ownership doesn't get applied to the depreciation on the SchE but DOES get applied to all other income and expense items. I had to split the fixed asset in half to get the 50% ownership gain to flow to the 4797 and the SchE. That's ridiculous.

Thank you

When I purchased the ATX 2013 software this year the rep said that it will auto import K-1 information from an 1120S to a 1040. Other software I've used does this upon opening the client 1040 after the 1120S is completed but that doesn't happen in ATX. Does anyone know how to get the software to do this? I cant find a manual import feature either.

I was thinking of doing that but then it would affect the 50% depreciation flowing to the Sch E. Unless I over ride the 50% of the depr flowing to the Sch E then go in to the Fixed Assets and cut everything in half so the correct 50% of the sale shows on the 4797. This seems like it should be easy and built into the software.

Im at a loss for how to change the ownership % on the sale of rental RE. Depr flows fine at 50% to the Sch E where ownership is indicated at 50% however 100% of the gain on the sale is flowing to the 4797. The only options I see on the Fixed Asset Disposition Tab is for business use not ownership. How do I get 50% of the gain to flow to the 4797 and not 100%

Marilyn I wish I knew how you did it. I tried your suggestion and I only get an input for the TP and none for the spouse, They dont have dependent ed exps. I spent two hours with tech support and they couldnt do it and said it requires a program update.

EDIT: It works on a test return. Now how do I get it to work on this return without redoing the return. Deleting the 1040edexp & 8863, closing and opening doesnt do it.

I quote the cost for the 1040, state and the number of local return required and the say additional forms are extra and usually required. I ask a few basic questions about their situation and quote the amounts for those forms. Then tell them that is an estimate and thats the best i can do.

I got two calls yesterday from long time clients who got married and their spouse wants to prepare their own returns.and they have tax questions they want answered. As in the past I said that i would have to charge for my time and they hangup angry. amazing! How do you handle this client?

Yes the efile was created and it didnt change the client letter from stating to mail it. I found the deleting ALL client letters, closing and reopening the return and then adding back ALL client letters then editing the state letter to change the option from "let ATX decide" to "the return will be efiled" worked. But only if done in this order. ATX still has not responded on the issue.

I have a TP and Spouse that both have education expenses however I can not get a 2nd record to appear on the "Input" tab to enter the school information for the spouse on the 1040EdExp form. The spouse is listed on the "Students" tab with 1 educational institution selected. The TP information entered fine on the "Input" tab.

Am I missing something to enter another record on the input tab?

I held for tech support for 1.5 hours yesterday and I am on hold again today for over 30 minutes with no answer or a prompt for a call back..

No, its a 1040 & PA return

Well after nearly two hours with tech support all i got was that it's an issue that has occurred a "few times" and they elevated the issue and took a copy of the file.

Jack, I tried deleting the letter, closing/opening the return and re-adding the client letter it but no luck. Thanks.