Pacun

I normally start with schedule D and then it is transferred to form 8949 and then to Schedule D. Open Schedule D and then click on sale of residency or something like that. Then enter the date acquired, sold, answer the question if she/he lived there and enter the cost and sale amount. It is very simple and it will take you only a few minutes if profit was not more than $250K for one tax payer or $500K for two taxpayers. Since it was not rented, I believe all profit will be tax free.

I have had 401k in Fidelity and then it was transferred to T rowe price. During all these years, I can only make loans or take a hardship withdrawal. If you were buying a primary residency, you were required a loan pre-approval, a contract signed and other documentation. This year (I am turning 55 in a couple of months) the money was transferred back to Fidelity and I was able to take out up to 44K (which I did a month ago) without any questions asked. After the withdrawal, I went back to see if any loans or money was available for me and I could see that all the monies is available to be withdrawn without any questions asked (over 100K). Today I checked again and now I see three choices that I can use... a loan for $50K, all my money on a hardship withdrawal and "FEMA DISTRIBUTION PREAPPROVED" with all money available. What has changed, besides my age? I never heard of "FEMA distribution preapproved". I live in DC and we don't have natural disasters. I understand the penalties and taxes on my actions that will be assessed when I file my 2020 taxes.

Delete form 8965 and open a new one and enter the info. If you get the same error, it will be an input error, most likely.

Is the credit being calculated? Are you able to create the efile file? Could you be taking Lifelearning because of entries missing and you are hoping for the AOTC?

It is not a wierd error... it is a wierd character that you have entered on the form. Look carefully and you will find it... delete it and you will be ok. It could be a space or a period.

If I am not mistaken, you need to consider the days they were here in the previous two years to see if they are a "resident" or not. Also, remember that only one of the filers need to be a resident for the other to become a "resident for tax purposes"... provided they make the decision and inform the IRS that they are reporting global income. Do not right anything on the social security box for the kids if you are requesting an ITIN. As you know, the IRS knows that a number is applied for when a W7 is attached. Also keep in mind that the person issuing the ITIN (since it is paper filed), most likely will write the just assigned number to the 1040 and send it to the other department for the 1040 to be processed as every other return. One more point, you MUST file the return at the same time you are requesting the ITINs if done during tax season. It is easier for everybody.

I fell that you have the latest version, so if you want to hold that update until April 16, I don't see a problem. It will be nice if you can see what the update is (maybe Feb updates)... if that's the case, you should install it.

The easiest is to compare the lower of cost or FMV in July. Then depreciate the item as new.... just add, depreciation taken. That way you don't have to worry about half year because the software will take the correct depreciation.

Schedule C and deduct part of cell payment.

Can you share how you deal with each scenario?

What are the specs of your "new computer"?

I only sign the copy sent to the IRS or the state. I never sign my client's copy. I only give them: 1040 schedules forms that were attached but not 8879. I keep 8879 with their signature along with two portions of the W-2 and I make sure I keep the "file with Federal Taxes" portion.

Thank you for the info. It is common for the restaurants to assign a number to the servers and the W-2 is composed of all the tips reported under that number. Bussers and runners don't have such numbers and in some places they assign tips based on the hours worked. Bussers and runners in most restaurant report very little tip. Since servers were going home with a lot of cash without reporting in the 80s and 90s, the IRS was tough with restaurants and now the restaurants are dumping everything to the servers. It is hard to go to your manager and say: "Yesterday I made $500 in charge tips but I gave Jose $75, Mario got 50, and Miguel got $25. So, please manually adjust my tips to $350.... and by the way, my lovely manager, you have do it manually everyday for me and for the other 15 servers. One more detail, last year, you charged me extra for FICA. I have the reports and names to whom I tipped and their amounts, would you please also make that adjustment and refund me my FICA and correct my W-2?" I am pretty sure that the next time a client complaints that the iced water was too cold, that server will be escorted out of the business.

Has any one successfully argued the IRS that a W-2 is wrong when it comes to servers on this situation: Every week a server gets $1000 in tips so his W-2 is for $52,000 in tips plus the $5 per hour for wages. The restaurant accepts cash but customers never pay cash in this high scale restaurant. The server gives 15% to the busser, 10% to the runner and 5% to the bartender. So in the year the server only made $39,000 but his W-2 shows $52,000. Also, the server already paid FICA on money that never received. Can I correct the W-2 and can the server get his FICA portion back?

Good idea... open your wallet and cross your fingers

I am not using that version of Windows. I have 1809 and new computers come with it. Also if you buy Windows 10 on USB, that's what you get.

If I am not mistaken, the IRS agent is assigned to audit our efiling of 1120 form. So he only gets what we efiled on that efile file. Agents cannot go and pull any other information without going through the channels. PLUS they want to know if taxpayers are running your business as a business... and as such, taxpayers should have all documentation handy.

It makes sense, since the requirement is for us to ask for identification each year.

I don't use client numbers so I sometimes use that column to enter what they paid.

Most of the time it is phone or MAC computer that locks the accounts. As you surf, you pass by the IRS site and they try to log on with your old password and eventually you get locked out. Hackers don't waste time trying to guess passwords. All delete all you generic passwords from your windows machines and you should be OK.

Do you have stand alone or network installation?

Reboot your computer and wait for all services to start before opening ATX.

That number will be lower on March 1, 2020. AND yes, there will be many computer running windows 7 in third world countries and many people in developed countries will be be using it on systems that don't manipulate critical information. But I am sure not many Tax preparers will be using in the US. Talking about Microsoft, I wish ATX would sell me ATX 2020 and in 2021 they would release Service Pack 1 for free... in 2022 they would release Service Pack 2 for free and in 2023, they would release service pack 3 for free and in 2024 they would force me to purchase a new computer system with ATX 2024. As much as I hate MS for forcing me to upgrade, they are still inexpensive. I wonder how many lines of codes ATX 2019 has and how many Windows 10 has.

Why do you want extended support if ATX 2019 will not install on Windows 7? I don't understand the idea of extended support if I am not going to be able to install new programs and the patching will be downgraded since Microsoft will concentrate on their millions of Windows 10 computers vs the few people that will pay for extended support. Buy a windows 10 machine ADN leave your windows 7 machine on the side and attach a printer directly to it. Make sure you disable or pull out your wireless card and your NIC and use it until you able to sleep well knowing that Windows 7 is gone,. Don't forget to disable your blue tooth and to lock you office. I just can believe that someone who hosts information... including but not limited to: (Legal Names of clients Date of birth Driver's license number and state of issuance with expiration date. Social Security Number Current address Employer's address Bank routing number and account number(s) Information about sons, daughters, spouses and parents which include most of the info above How much people make and their profession Addresses of Properties Type of Car they depreciate Name of Universities they attend or that their family members attend Daycare where they drop their children) is hesitant to purchase a 1K computer with windows 10.

If anyone has a plan, can you share it with me? Mine is getting old.