Janitor Bob

ATX will no longer allow me to open an already completed return unless I add PRS funds for two forms....OH E-file Info for RITA and OH GNTPOJ.  What. The. Hell?!

No RMDs yet...not until next year...she told me she called both banks and both told her no 1099-R....I just don't get it

I give up...I told her that based on her information, no 1099-R means they do not even need to file (in fact, I do not even think ATX will let you e-file a return with all zeros).....and told her not to be surprised if she gets a letter from IRS eventually on this subject.

I have a 213 page brokerage statement to attach to a return....file size is 14mb....is there a max size that can be attached and e-filed with ATX?

Brokerage statement is 213 pages.....total LOSS (ST + LT) is $13,425.  Investments fees $2,426.

I'd be moving my money

I have prepared returns for a couple for several years....they have 3 documents every year:  His SSA-1099, her SSA-1099, and her 1099-R (which is the only reason they need to file returns at all and is the source of their refunds due to Fed and OH tax withheld).  This year, no 1099-R.  I checked and the 2015 1099-R did not have a box checked for total distribution.  I tell client that I am missing the 1099-R.  She tells me that there isn't one because she moved all of that money to a different bank.  I try to explain that the original bank would have still issues a 1099-R just possibly coded G for rollover.  She disagrees saying "I used to get money every month, but didn't get any money in 2016 because I moved it...so I won't get a 1099".  I suggets she call the original bank (JPMorgan Chase) and provide her with the phone number and account # from the 2015 1099-R.

She tells me she called them and they confirmed no 1099-R. ????  Am I missing something here?

make sure you are entering the interest in the correct place for filer or spouse.

at first, I went to the ATS support site and checked e-file status...you can see the message there...but I ignore them now since they are the same messages either relating to ACA or school district taxes being attached to Ohio return

could I file the final 1065 for period ending 05/18/16 and allocate 100% of income and expenses to the remaining partner.  I know this is what both people want, but not sure if i can change the 80/20 to 100/0 for 2016.  There are no assets, so if I change to 100/0 then the member who withdrew will not have a late K-1 necessitating an amended return on her part...all income would just go to the remaining member on his K-1.

The agreement drawn up by the attorney basically states that the 20% partner withdrawals from the partnership effective 05/18/16 and releases the business from any and all obligations commitments, assets, and liabilities for 2016

It would have been nice if they had informed me of this in May

Thanks...There were two members, then they filed paperwork with an attorney to terminate the 20% partners involvement effective in May 2016....There were no assets or receivables...it is just a cash sale business....he buys things and then re-sells them for profit on e-bay.

2 clients were 80/20 members in a partnership...I did the business return for 2014 and 2015...splitting off K-1s to each of their returns.  In 2016 partners have a "falling out" and officially file papers to have 20% member removed...she joins military and I have not heard from her....I assume I'm not doing her taxes this year.  The 80% partner (now 100%) wants to forget the whole partnership thing and just file taxes this years as if he was a 1-member LLC for all of 2016...forgo the 1065 and just do Sch C...taking all of the profits on his return.  Am I correct in that we should still file a Final 1065 for 2016?  I have no way of splitting his income/deductions...he just gave me lump sums for income/expenses for the year.  Could I file a final K-1 with zero income and zero expenses then file actual expenses through remaining client's Sch C?  Forgive me...I'm out of my area of expertise here.

A large number of people on the "other" ATX board are in the same boat...nobody knows why.

same here

On 3/14/2017 at 0:41 AM, Jack from Ohio said:

Include the income on the SD100. Sch C income is considered earned income.

to the extent included in Ohio taxable income...which is zero in this case because of the BUS credit.  The Ohio web site states specifically that for earned income only school districts, there is no requirement for add back of the BUS credit like there is with traditional base school districts.  For traditional, there is a line (line 20, I think) to add back that BUS credit.

Disregard my disregard...The Business credit add-back is only for traditional income-based districts...since mine is earned only, I'm still confused on wether or not to include the Sch C income on the SD-100

Disregard...I found it...you have to add back the credit

OH preparers help me please!  Client's only income is schedule C.  Not taxable on the Ohio return due to the nice Ohio Business Income Credit....but does that mean it is also not taxable on the OH SD-100?...Earned Income only school district asks for income from Sch C that is also included in Ohio taxable income...but Ohio taxable income is zero....

PSA:  Don't try to train for a marathon during tax season

4 hours ago, RitaB said:

My opinion is that all a SMLLC does in TN is add expenses to your life and some billable work for me.    It might POSSIBLY fake somebody out by making them THINK you'd be difficult to sue.  Kinda like that time back in the eighties when I tied my horse to a lawn chair while I ran in the house for a Mt. Dew and she stayed put.  My motto is do your job right, have the appropriate liability insurance, and don't worry about it.  

This is what I have been doing and will continue to do...Instead of paying the fee for LLC, I'll use that money to further increase my liability insurance...or better yet, add a security breach/information loss ryder.

I have been operating my small part-time tax business as a sole prop for 20 years.....I think about forming an LLC every year...because it just seems like something I should do.  But every year when I go to actually do it and pay the state filing fee, I stop and wonder just how will will it help me?  Can anyone with some experience in this area advise...just what benefit would forming a single-member LLC have over a sole-prop?  Will it shield my personal assets in the case of a lawsuit?

I found the cite...father files as Single

In early January I send a letter to all clients in which I remind them that I will need this "personal" information and why...if asked again, I blame IRS and explain that I am only doing what RS says I must.

Clients are unmarried parents of two children..all 4 people live in the same home all year.  Can mother file single, claim dependency exemptions, CTC, and EIC...and Father file as HOH?...Or does father file single as well?  Father makes much more than mother if that matters.

the credits help her refund more than they would his. 

3 minutes ago, Lion EA said:

Let your cat walk around your desk, batting the mouse around.

and change taxpayer name to FUTH459TRYG8