TaxCPANY

But, in ATX's own community board, someone claimed that TaxWise would be subjected to the same, wholesale re-write, next year. Don't recall whether the poster cited his/her source, but it can't be any less certain than what I'd expect TaxWise to say about itself, right now.

Can anyone recommend a non-subscription website containing a simple list of each state's 2011 limit on IRC Sec. 179? My lone subscription to Intelliconnect does not offer this, and I haven't Googled it right, yet. I once had several bookmarks of such things, but a few months of platform crashes & upgrades have left those in archives that it would be slower to spelunk than appeal to this group's always-massive resources, now -- while I'm trying to wrapup my most multistate client's returns. Much thanks in advance, TaxCPANY

I've always appreciated the fact that billing my (& my assistant's) time(s) most-accurately reflects the work I/we've done. There is too little that is uniform about the projects/returns/reports I'm tasked with, from year to year; so I do not 'buy into' the annual blurb from one published consultant or another that "hourly billing is passe." It indeed can be exasperating to have to explain to a client why this year's invoice is "so much more than" last year's, but, every reasonable client can understand that, in the end. (Funny; I can't recall hearing from any client, "Wow, you charged me half what you charged, last year!") Feeling free to jettison unreasonable clients, I nonetheless have seen my practice grow past the point that I could handle without an almost-fulltime assistant, now. I must conclude that "the proof is in the pudding."

1) Have you tried the freeware version of Foxit Reader? 2) I recall having run-around this problem by porting the file to a USB thumb-drive, then trying to open it directly from that OR by copying it to my desktop or laptop, first, then trying to access it 'within' one or both of those platforms. 3) Don't forget to 'diskcheck' it first, to determine whether it's a "corrupt" file or not; 4) Also, I assume you have a robust anti-virus programme with which to ensure it harbors no virus nor malware. Hope this helps, TaxCPANY

That idea ROCKS, Cathy; I'm gonna copy for it all my clients with kids who're on-extension -- and every child-bearer next tax year. (Too bad one can't create an IRA account with only $10, as I'm inspired to do for all my adult clients.) I love the idea of giving-back to everyone I'm glad I'm alive to know.

Hey,mcb39, When I next get to Wisconsin (to see a relative and meet the new client there who entrusted his returns to me to prepare based on a referral and a couple of phonecalls), could I sponge some of your client's pieroga & sausage? No hacker could crack my mother's maiden name, nor any non-Pollack know how to pronounce it. Already anticipating the Great Escape from Tax Season!

Constructive ownership rules, on this, BCinSC -- i.e., everyone owns "100%". VTY, TaxCPANY

<p> </p> <div>I would input only the totals, jwalters, and concoct a way to send the details via Form 8453 to the Service. (This doesn't supplant Form 8879, Bulldog, but, rather, supplements it. (E-file is one of the greatest innovations since I started practicing!)) With Form 8453 merely as a 'cover page' to attachments, I have avoided subsequent CP2000 notices -- as well as having cut input time to the bone. Several of my clients generate over a dozen pages of trades -- upto 40+ -- each year.</div> <div>Now, I think you're saying that Mutual Fund A's reports are like those from independent e*Trade accounts -- as those of a &quot;clearing house&quot; rather than a broker? There yet should be a way to compile those into a series of pages to attach to Form 8453. My clients send me everything from their own Excel sheets to handwritten rows on lined paper, that I have forwarded to the Service via Form 8453. What would be the &quot;right order&quot; in which you're not getting the transactions?</div> <div>Overall, as long as the Service receives both a Schedule D tying-in to total proceeds of capital-asset transactions *and* the details -- in some fashion -- compliance requirements would seem to have been met.</div> <div>Your re-remarking Mutual Fund A's &quot;TIN&quot; still puzzles me. Surely, your client's SSN also is used on the Form 1099-B, and MFA's EIN is reported as payor?</div> <div>Thanks for your tolerating my stumbling attempts to help.</div>

Ken, MAMolody, I think I finally got the rtf version emailed to you -- some minutes ago. Please don't hesitate to tell me if it still hasn't worked. G'night, TaxCPANY

Dang it, I am having a hell of a time trying to attach the "rtf" format file of the Agreement! I am about to stumble into it for a THIRD time Am I categorically wrong to try to send an *.rtf file; should/must I use a different file-format?

Haven't touched "Paperless Plus." I've been *wedded* to "Nuance PaperPort" -- ever since it was Visioneer PaperPort -- since 1996. It still costs less than Paperless Plus, and does *EVERYTHING* I need to do to documents -- to digitize, store and/or modify them -- transmogrify them into *any* graphic-file format required by *any* recipient -- from tax-auditor to banker to client. (Also, when I had to upgrade my scanner, to a Fujitsu fi-5015c -- to accommodate Windows 7's insistence upon 64-bit peripherals -- Adobe Acrobat 9 was bundled with it at no extra cost.) Not to say that Catherine's report doesn't intrigue me.

Don't waste your breaths, Ken & Tom; EA never will enjoy the prestige/eclat of CPA. While you-all & I know how brilliant & capable you are, CPA is *the* meme/deep-seated cultural signifier that you'd be tilting against windmills to try to depose. Harried journalists never will take the time to fathom the fact that you work as hard & deeply as CPA's are supposed to; and you're tilting against almost 100 years of popular culture -- e.g., can ANYONE cite a song or skit or joke in which "Enrolled Agent" even is mentioned?

I'm very sorry to hear of your personal losses, Ken. I'm attaching a copy of just such an agreement as I've signed, that I hope will help. (It was designed by one of most savvy fellow practitioners it's been my privilege to know, but, please note, it uses the term "employee," when, actually, the per diem was an independent contractor.) Hoping greatly this helps, TaxCPANY P.S. I *will* get 'upstate,' some day.

Hi, jwalters, If, in your second sentence, you mean 'input' by "list," you still can go the Form 8453 route -- i.e., on Schedule D simply input two rows (one if only short- OR long-term transactions): the total short- and long-term proceeds and basis, with the legend "See Form 8453 attachment," Date acquired as "Various," and date of latest sale as Date sold. Check the Schedule D-1 box on Form 8453, and snail-mail it with the realized gain/loss details to the Service Center in Austin where all 8453's go. I don't understand your first sentence, I'm afraid. Hope this helps, TaxCPANY

Unless a fiscal year, ending no later than 2/29/12, was "elected" for the estate, there seem to be two calendar-year Forms 1041 to file -- and "taxable estate" pertains to Form 706, is *not* pertinent to your question, "apples vs. oranges." The October distributions to the beneficiaries would seem to require Form 1041 Schedules K-1 reporting of their shares of the interest income -- in either a 2011 form, if a calendar year, or a 2012 form, if fiscal. I.e., TAXMAN, I think you've got work to do. Form 1041 reports income (& deductions) of *any sort,* whether taxable or not; and its timing depends upon what was elected when the estate's Form SS-4 was filed I scarcely understand OldJack's response, at all, I'm afraid. Very truly yours, TaxCPANY

According to Steven Melnik's article in the May, 2004 issue of 'The CPA Journal,' Kea, those fees are amortizable over the (10-year) life of the loan -- NOT the depreciable life of the property. While this is not a "definitive" cite, it echoes what I recall doing for clients who rented-out their residences when they posted overseas -- and, at the direction of the Big Four firm I worked for, at the time. (Sorry; it's too late for me to plunge into the IRC or its regs to provide 'real' authority.)

As much as I am, Diane -- i.e., I've been filing Expats for years, and've never seen that reject code. What else is going on in that return -- e.g., 'active' losses from Schedule C or E, off-shore or not; a carryforward NOL, off-shore or not? Those are my first stabs at making sense of your problem.

We finally are, since at least Monday, neilbrink; but, you must "manually" update *all forms* in ATX, in order to get past what sounds like the same problem I'd had since your original post.

Go to the [boldface'] Percentage of Stock section of the Input tab of the "Sch K-1" tab of the Shareholder's Input Sheet, imjluier; use the Period 1 input to describe the selling shareholder's % of holding shares (from 1/1/2011 to x) & the Period 2 row to input post-sale (from x to 12/31/2011) -- as zeroed-out. Use that PoS section in the remaining shareholder's Input tab -- the other guy -- to report his/her accession to 100% ownership -- matching those dates of transition. Everything you need to report is done within the Input tabs of each Shareholder's Input Sheet. (You should not need to over-ride *anything,* overall.) Caveat: you might need to fine-tune/tweak the dates of transition -- e.g., maybe 2/2/2011 is the date of redemption, and 2/3/2011 is the date of accession, instead of both being the same date . . . ? Also, delve into the Detail tab of the Sch K-1 tab, to ensure that, overall, you're reporting *only* 100.00% of the transaction and not anything more or less. It's a gnarly job; but, believe me, ATX can nail it -- just as well and with the same 'sweat' as required by Lacerte & ProFX & c., in my experience. Good luck, TaxCPANY

It's a bit more nuanced, Bulldog. Your clients have the option to elect under IRC Sec. 6013(g) to both be treated as US residents for the full year. (This also entitles them to claim IRC Sec. 911 exemption of income earned overseas, and/or Form 1116 Foreign Tax Credits for taxes paid (to Japan).) It really only requires an explicit election, as an appendix to Form 1040 -- that ATX includes, easily. In your clients' case, I can't see a downside UNLESS they've earned 'fabulous' amounts in excess of the IRC Sec. 911 & 907 exemptions of "earned income" and "housing allowances." If your client's spouse earned massive amounts prior to her immigration, you should weigh the benefits of excluding that income from US taxation, as counterweight. VTY, TaxCPANY

Basically, imjulier, the entity recognizes no gain/loss on a "complete redemption" of a shareholder's interest; so it's not reportable on Schedule K-1 except to report that year-end ownership is 0%. (I think IRC Sec. 302 governs it; but, tonight, I can't access Intelliconnect to perfect the cite.) Anyway, gain/loss is a matter 'only' of the redeeming shareholder, to report on his/her own Schedule D. N.B. the event is date-specific, not year-end as with a partnership; you should calculate the shareholder's basis as of the date he/she redeemed. BUT, the entity does needs to adjust its AAA, in respect of the redemption -- and report that on its returns. Sorry (again), but I've got to tackle some 'technical problems' in advance of answering your question in full. Hope I've helped at least summuch. TaxCPANY

You got that far?! I've been waiting a *month* to e-file my first 1041. A full week ago, Thursday, I was told that Form 8879-F and the 1041 E-File forms were 'about' to be issued. I've seen nada about those, though. Do I have the same kind of problem that required deleting all my cookies -- two days ago -- in order to access MyATX.com? ANY insight here would be most-gratefully appreciated. (I have to spend another full day out-of-office; won't get back to ATX til Saturday.) VTY, TaxCPANY

I run two desktops and one laptop -- this first year I've used a network setup. It's great & fast; best, 'big' change I've made in my office since going all-Windows 7. VTY, TaxCPANY

Hi, bcolleen, No; the instructions for Section III, Line 13, Item 2 of Form 8863 are an *all-inclusive* slate of conditions -- i.e., *all* three Items must apply to your client to deny him/her refundability. (Just, as Devil's Advocate, are you implying that your client is claimed as a dependent on his parent's return, or that that parent contributes over half your client's "support"?) If you're asking whether the mere fact that a parent still lives -- while neither Item 1 nor 3 apply -- then your client's credit should be refundable. Just, scrutinize the definitions of "Earned Income" and "Support," before you accept my advice. VTY, TaxCPANY

Ditto Catherine, And, I've been serving a non-MA-resident S-corp owner with an office in Dedham, for decades -- as well as non-MA-resident athletes who 'play' there. So, please feel free to tell me what's hanging your filer up. VTY, TaxCPANY