Pacun

2 Artists have a few costumes and some make up. They also have a camera and another piece of equipment that was purchased last year. I have never depreciated anything but last November they split and they closed the LLC in Feb. They are continuing with the business on separate LLCs and they have split the items and they are worth it about 2K. I haven't look yet but I wonder how I will report those 2K for "selling" their stuff to themselves. I also have a choice to depreciate those 2 items in 2013 and then sell them in 2014, but they will still collect some some money for the make up and other items.

I thought that feature was made only for you, but once again I am wrong.

If you are talking about a Traditional IRA, Rita gave you the answer you are looking for. Line 28 is for SEP or SIMPLE, is that what you are talking about?

always, copy that file to c:temp and then delete. I have noticed that if I open up ATX as soon as I boot up my computer, I get that error message.That's because my computer is not connected to the Internet. So, what I do is to make sure I can go to www.google.com before I open ATX.

It seems correct, just keep the records. Make sure you elect to forgo the carry back loss, which is automatically.

I updated the program yesterday and I had no issues whatsoever.

If I send 5 efile and I forgot to send 1, I immediately go to select that one for transmittion and I don't uncheck the other ones, I get only 1 to be transmitted and the others are grayed out. This issues sounds like you are going "back" a page as you do with IE. Could that be possible in ATX?

I think you are better off "letting this one go". You must own the property and PAY the mortgage in order to deduct it.

Simply because the rules is something like this: If you are filing MFS and your spouse itemizes, your standard deduction is 0 but you may itemize.

If she uses the standard deduction and her husband itemizes, her standard deduction becomes 0.

Partially correct... the rule is: If your spouse itemizes, you standard deduction is 0, but you may itemize.

Yes and then the IRS will audit her. It is not who files first: The rule is that if your spouse itemizes, you have to itemize.

Yes, the mortgage might be for only 30 years. Who knows she might be lucky and only 20 years left.

Poison or you start dating her.

I would take on Sch A or the same line where he reported that income the previous year.

I am glad to hear that. As you know the best tech support is the one you don't use. So my tech support has been better. I haven't used them for two years in a row. I hope it will continue for the rest of tax season.

He needs to add "for the convenience of the employer" and he should be OK. The employer will be happy to provide that letter since they don't have an office.

Yesterday we were talking about this with my partner. We had a client who paid about 40% and then said that he was going to pay us the rest on "Monday" (maybe he will come back). My partner said "We lost that money and we worked for nothing". I said, "not really", "we already covered our fixed and variable expenses so that 40% is enough and it is a profit". I explained to her that we already have the knowledge, the computer, the software and that 40% was plenty for the time we worked. I went on and said we have 10 clients who don't have money to pay us but they are smart enough to stick with us and not go to HR block and their fees deducted from their refunds (no RALs in my office). Even if 1 of them don't come back to pay us, we are still ahead on the game. Sometimes, you have to read between the lines!

Where were you deducting the taxes paid or interest paid on the time share property, Sch A, correct? So it is a personal loss, no deduction.

I have two clients who never have money to pay me but the day their refund hits their banks, I get a desperation call from them asking me where I am because they want to pay. The first year they paid while in the office but the second year they started paying me when they get the refund and they have done it for about 6 years. The first year they didn't have any money to pay us, my partner was going to start a sermon and I immediately said "No problem, you can pay us when you receive your money". That was the best sentence I have ever used and now I have at least 10 clients coming from referals from these clients. Honestly, I trust all my clients. If I don't trust them, then I cannot prepare their taxes, correct?

If carrying tools will make the rule, I would always carry 2 screwdrivers from my company and decuct all my miles.

First of all I thought your title was: ERIC and Alimony. I think you are confused. Let's say that a person who collected 15K in alimony and has no other income, this person would not qualify for EIC credti because this is not earned income for EIC. This doesn't mean that alimony income will not jump her out of the range of EIC

No EIC for this client.

I am sorry about your loss and suffering. Since california is a tricky, I would be able to help from DC.

Your client should call the bank and find out what happened, who knows, maybe he had two loans or a line of credit. In any event, either the client will admit to the debt forgiven or the bank should issue him a new, correct 1099-C with the correct amount which seems to be 0. I would not prepare any form 1040 or 4797 until I know the documents on my desk are correct. In this case, there seems to be an issue with the 1099-C. You have not mentioned if your client is insolvent, so before bringing up form 982, we need to know that.