Pacun

Prepaid rent is taxable when received.

Also, you can do this one:

run cmd and admin and type chkdsk /r

and press enter

Another useful thing to do is to hold down the shift key while you select shut down the way you normally do.

invoke the DOS prompt as admin and type sfc /scannow

and press enter.

Since one of the spouses was residing in the US for more than 6 months, I would request those $4,200. 

My bother's wife was waiting for her Visa for 2 years and both years they filed jointly. She was a student and it was very beneficial to my brother to file jointly.  I applied for an ITIN and sent a letter signed by both stating that they agreed to file jointly as resident for tax purposes and that she was going to report world-wide income (which was 0). In your case, the strong requirement is valid social security number and by virtue of them signing a letter stating that they want to file jointly as residents for tax purposes, reporting income earned while abroad, they should be entitled to all benefits except those specifically ruled out such as EIC.

I was waiting for this post to be answered by someone else but it didn't happened. At least I will bump it up.

I have found two possible issues with ATX while calculating DC unemployment and when calculating Schedule H (renter's credit).

Unemployment income is not transfer as taxable in DC and Schedule H doesn't pull Income amount from D40. As a result, the  credit on Schedule H is 0.

I have Windows 11 and ATX is working properly.

Each Return accepted reads "accepted with messages".  In the past, that message indicated that I have forgotten to answer an ACA question which was important. This year it seems that you get a message "Thank for using efile" and hence the message "accepted with messages". Am I missing something?

Someone dropped documents and I saw that the IRS have sent them a letter stating that $1,800 were sent in advance for their two children.  Clients file jointly and failed to bring the wife's letter. When clients see the same amount of both letters and think they are duplicate. 

I have seen a couple of dozen of videos from this person and if you have time, take a look so when you have a crypto hodler you can suggest to use the last of the suggestions for free (koinly).

about a couple of weeks ago, I linked my metamask wallet to that application and I was surprised that in 20 seconds my capital gains were calculated.  I used the free version of it and took a note of the amount of capital gains. I think that if I get a crypto hodler, I will ask him to visit koinly website and to link their wallet and run the report. Then I will ask them to buy a Crypto trading log and to be organized for the next year.

This is the link for the video, but you can search "crypto news guy" and his latest videos will be shown.

7 hours ago, cbslee said:

No, NFTs are not the same as cryptocurrency. While they both have unique blockchain identifiers...

Correct, they are different but we are talking about how to report them on 1040. The closest we can think of is to treat them as regular Crypto... again for reporting purposes. 

The answer provided by cbslee seems to be correct if you bought it, but what about a nice hat and you make it NFT? What if you have an inventory of NFTs? 

22 hours ago, TexTaxToo said:

In this case, tiebreakers do not come into play unless they both claim the child on their returns.  In any case, I don't think vacations would affect anything as they are considered temporary absences as far as residency is concerned.

If you read the original post, the mother is saying that the father doesn't have any "legal rights to the child" and the poster wants to have the father claim the child, most likely both want to claim the child and the tie breaker rules will apply. 

Nothing is "temporary" when counting the nights where the child slept.  You count the nights the father slept under the same roof with the child vs the nights the mother slept under the same roof with the child. AND as you know that's the first rule.... whoever wins that one, wins the goodies.

Any MD Preparers that can share their experience with MD-EIC?

It seems to be rental income on the houses "converted" to single family occupancy.

The incentive was only given to renters or owners, correct?

I would also think of this as a portion being advanced rental income. So technically the house will be partially rented in the future if the houses are idle for any reasons.

I would be careful with the vacations away from home. If he took a couple of days of vacation in 2021 and the child was left behind with the girlfriend, she will win the tie breaker. 

As long as the child is blood related, he can claim the child. 

If every single night of 2021 they all slept under the same roof, then the parent with the most income would win the tie breaker, which is your client in this case.

EIC for children is calculated correctly on 1040 but it is not calculated at all on MD returns. Any help is appreciated. I have check both "new" boxes on MD 502 but still nothing is calculated.  Software glitch?

What error message do you get when you try to log to 2020 and 2019? Solve those issues and roll over will work most likely.

I don't have any problem with ANY one dropping off the info.  My clients usually use USPS/FedEx/UPS and neither the client or I know the person that delivers it. 

The company wants to receive some money as a loan but report it as earned income, right? Or get a loan and then have the lender give up on the loan and report it on a 1099-C and that will make that amount taxable.  I don't see an elegant way of increasing income. 

What if the owner doesn't get pay in December or pay its employees in January or (maybe too late) don't pay December's rent until Jan 1st.

SE tax is higher than EIC at any level if there are no children. 

Not all vulnerabilities are exploited or discovered by "bad" hackers.  Microsoft has a bunch of "good" hackers on its payroll whose job is to break into their product and they discover most of the vulnerabilities and send out fixes.

MAC is the alternative for regular users but it is more expensive.

On 12/21/2021 at 9:52 PM, Sara EA said:

Yes, the 2020 version of the CTC will be in effect, as well as the additional CTC rules.  No credit for children age 17.  What I'm concerned about is that people used to get, say, a $4k tax credit for two elementary school kids.  In 2021, it was $6k, but they already got $3k, so on their tax return the credit will be $3000 instead of their usual $4k. I have some clients who purposely have very little withholding because the CTC wipes out most of their tax liability.  They may not be happy this season.

I liked this answer:

On 12/18/2021 at 9:04 PM, Sara EA said:

THEIR problem, not yours.

Just wait for the refund. You can also call the hotline and ask about the refund status. Don't mention your mistake because you might succeed on the difficult task of confusing the IRS. 

If we didn't go over our heads a few times, we would never be where we are.

I also think about the job of the president of the U.S.A. That job is above the head of all those people that have sat in that office for  the first term and yet, every 4 or 8 years a new person gets the job.

All professions require people to go over their head. Think about your doctor, if he didn't go over her/his head a few times, she/he would be treating only simple colds.

The original poster said that he is studying partnerships so, I don't see anything wrong with starting doing a couple of 1065 and later he will be the expert who will answer my questions and share his knowledge here.