L.S.

I saw her do this in person about a month ago at Women of Faith - SO funny. She has recently became a Grandma and she said after doing this Mom song, she would now do one for all the Grandma's. She put her hands out and said, "Whatever you want, honey." I am finding this so true as a new Grandma to a 20 month old grandson. He and I went to the Dollar General Store on Saturday and came out with a Mickey Mouse Ball, a new pair of sandals and a rose for his mommie! What joy he brings to my life!

It might be Friday, but Sunday's coming! Hope everyone has a blessed Easter!

Thank you - I do appreciate your reply and I will take a break on April 16th!

Client deceased Jan of 09. went to IRS website to see if she rec'd the $250 and put in info and get the note information not available - any suggestions?

Client has 1099R with gross distribution of $20,665 and taxable amount of $402. Client not under limits to file if I use $20,665, but is if I use $402, she is. Does she need to file? Thanks.

Just had the same problem as the rest of you with the third party situation. Now have a new problem. Yesterday, I had prepared a return with a 4835 with a loss and was able to create the e-file. Today, I had to change one small figure in the 4835 and result was still a loss and now when I try to create e-file, I get the message, Error - When there is both Income/Loss on Line 32 and Passive Activity on Line 33c, the return must be paper filed. Anyone else having a problem like this - never had a problems with any of my returns with 4835 until today. This is a cash-rent landlord with some patronage div income and some expenses so in the past we have always put his cash rent income on the Sch E and the exp & patronage div on the 4835 and have always been able to e-file, but now with this new message - this can't be e-filed. Can a person be actively participating but not materially participating? Would you consider this passive or non-passive activity? Really want to e-file because I have a lot of these farm cash rents with the 4835 then showing a loss - HELP, please. KC - suggestions?

Just had the same problem as the rest of you with the third party situation. Now have a new problem. Yesterday, I had prepared a return with a 4835 with a loss and was able to create the e-file. Today, I had to change one small figure in the 4835 and result was still a loss and now when I try to create e-file, I get the message, Error - When there is both Income/Loss on Line 32 and Passive Activity on Line 33c, the return must be paper filed. Anyone else having a problem like this - never had a problems with any of my returns with 4835 until today.

very good question - I am trying to get further information on this!

Partnership received 4 1099R's to the partnership id number. (1) from American Equity Investment Life Ins. Co. with a taxable amount, code 7 and amt withheld for federal and state. (2) from Aviva Life & Annuity Co w taxable amount, code 7 and amt withheld for federal and state tax. (3)from Aviva Life & Annuity Co w/ taxable amount, code 7 and amt withhold for federal and state tax. (4)from Liberty Bankers Life Ins. Co - gross distribution, total distribution box checked and code 6 Questions - there is no 1099R available for partnership - so I have used the 1040 1099R and input the above information. of course the partnership pays no taxes - inc/exp should flow through to the K-1's - should this flow through to the K and be investment income - do I need to manually put it there or does the program do this? Also, what about the withholding - how will that work - I am thinking there should not have been any withheld since partnership pays no taxes, but since there was - what happens now with that? thanks for any and all help

Have just 1 client who always requests the future depreciation sheet. I realize we don't have this option this year - he has loads of depreciation - is there any good way to give him an estimate of 2010 depreciation? thanks,

Thanks Margaret, finally got it figured out correctly. Yes, I was using only tuition and fees and yes, he is half-time student. On the education worksheet I was putting the amount in the box called tuition and fees for 2009, however I should have put this amount in the box called midwest disaster box. I put this in the right box and it does calculate correctly. My goodness, what an ordeal with all of these choices for the education credit! There is going to be a lot of time-consuming work put into this credit to choose the best one with each individual circumstance! thanks again, Margaret! blessings to you!

yes, it is lifetime learning credit since he is in 5th year in college - yes i did complete the worksheet, but if i put in the amt of exp in the midwest disaster box - it doubles his qualified expenses and I don't want that - i just need to have his qualifed expenses come through on line 7b so it will take 40% for credit. like I said, last year there was a box on worksheet to check if qualify for the disaster area. help - what am I missing?

have a client who has education expenses in a disaster area - qualifies for lifetime learning credit. last year had a box on ed exp worksheet to check if eligible. none this year. how do i get line 7b to show the qualified exp on this line. i can override, but I don't think I should have to???

Thank you for your responses - yes, in this particular instance it does make a difference for this pastor. In fact, this pastor is my son.

Treadmill purchase allowed? According to Worth's Guide for Ministers it is not on the "yes" list and not on the "no" list.

jainen, Yes, I do understand the deferred interest issue and this interest was not reported annually. And I do know that I can report it in the decedent's final return which is what I will be doing and I expect to hear some correspondence from the IRS There will not be an estate tax return necessary in this case so I believe the double taxation issue you stated would only be a problem if an estate tax return is filed as well as the 1041. ok, jainen - hit me with your best shot!

Deceased individual (2009) held some hh bonds with deferred interest jointly with his son and same amount with his daughter. These bonds were cashed after death by the son & daughter and now they have each received 1099-Int from Bureau of Public Debt with the son's ss number and daughter's ss number. I want to show this interest in the deceased final 1040 income tax return. I know this will create a problem with the matching of interest amount and ss numbers. I am considering issuing 1099's from each of them to the deceased ss number for the exact amount reported and then file the 1099 & 1096. Comments or concerns, please.

If you had a choice of putting money into the Simple IRA or a Roth IRA - which would you do first? I think the Simple because of the tax deduction and also the company matching 3%. It is possible to put money in both - up to the limits, correct? When withdrawing the money from the Simple, this is taxable, right. Do you HAVE to start withdrawing at age 59 1/2? thanks

All Gave Some........ Some Gave All

Yes, thank you to ALL veterans. My 87 year old father, a veteran of WWII just died 2 weeks ago and this day always had lots of memories for him and for me. Of course he had military rights with taps and that is always so moving. My older brother, also a veteran (Viet Nam), has the flag that was draped over his casket. God bless you, Veterans!

I beg to differ -- I actually found what I was looking for IRS code section 454(a) and reg. section 1.454-1(a)

Client died in 2009 and had hh bonds with deferred interest that needs to be reported when these bonds are cashed. As I understand it, there is an election to report this interest on the final 1040 for decedent. Some bonds are in his name only, some in his name and pre-deceased spouse and some held jointly in the name of decedent and son and some in name of decedent and daughter. I believe that all this interest can be reported in the 1040 - even the amts for the son and daughter - is this correct. Where do I go to find this information? Thanks.

No

Farmer sells 80 acres to son on contract. 3 years later farmer borrows $80,000 and builds house for son. Farmer sells house on new contract to son. Son occupies as first principal residence before 12/1/09. Does he qualify for first time home buyer credit? thanks,