Terry D EA

I had this problem a while back and according to Ryan, the programers had an idea what caused it and it shold have been fixed in a future update. Again this has been a while ago.

Only thing that sticks out at me here is kid #1. The AOC can only be used to pursue a bachelors degree or for four tax years. Knowing the status of the AOC taken in earlier years would help with your decision. Most likely though you may end up optimizing between the life long learning credit and the tuition and fees deduction for this one. Kid # 2 us pretty clear, the AOC should be the better choice. Again optimize between the two credits. Box is the fees billed or paid which may or may not be the same amount of scholarship in box 6. The difference between the two that the student did not use for his/her education is taxable income that is to be reported on line 7 of the 1040 form with the words Sch. We have a local community college here that issues checks back to students for the portion they don't use towards their tuition. Makes em mad when they have to claim it.

Having this feature is very useful but, I for one, don't charge anything extra for a few extra W-2 forms. Some of these returns can be completed quite quickly and I have a hard time justifying additional fees especially if the return is rolled forward from a previous year where the base information of the W-2 already exists. I'm not saying it is wrong to charge extra but that it doesn't work for me.

I have had a couple of wierd scenarious this evening too. I was reviewing a return in front of the client and the refund amount changed part way thru the review. Why???? I don't know. All I know is the tax was calculated different so I verified everything manually and it is correct. However, this makes one look bad in front of a client. I know if I call TRX there will be no answer because it is now showing up now. I wonder if the last update has anything to do with these issues.

Input the information as it is on the corrected W-2. If the figures are off, which apparently they may well be, then I think you can mark this as non standard W-2 with the correct figures. I think that is what it is called.

I'm glad it came out the way that it did as well. However, I do agree with Tom on all points. I also noticed that the female reporter mentioned that not all CPA's are alike as well. Best advice is research and find someone you can trust which is well worth the investment. Naturally if the fees are outrageous then one should question that as well. Being the most expensive doesn't mean you are the best at what you do.

These situations can get sticky at times. I am of the opinion that each is 50% owner in the home. That in and of itself doesn't address the FTHBC and would be two separate issues. However, if you are trying to qualify them for the FTHBC, then you need to allocate it as outlined here: A. Co-purchasers who are not married may allocate the credit using a reasonable method. A reasonable method is any method that does not allocate any portion of the credit to a taxpayer who is not eligible for that portion of the credit. The maximum credit for a taxpayer who qualifies under the long-time resident test is $6,500, and the maximum credit for a taxpayer who qualifies under the first-time homebuyer test is $8,000. One example of a reasonable method is to allocate $6,500 to the long-time resident homebuyer and $1,500 to the first-time homebuyer. (12/14/09) This makes perfect sense to me to do the allocation this way. I hope this is what you were looking for.

DITTO KC and Old Jack. I have a S-Corp that irritates me in the same way. Always trying to get me to reduce my fees. I already do too much for this client that I don't bill for and this year this thread was out exact conversation. Our time would be better spent filling up the hold left from this client by a few new clients. Plus, we would be able to address others more efficiently as well. Sometimes you have to weigh all of the odds.

This is my second year using TRX. Like many of you, I had used ATX for 12 years prior to switching. I had minimal problems last year and even less this year. I do think I made a good choice the support is much better and for the most part, TRX support is courteous and will stay with you to solve any problems. I hope the price stays the same and if so, then I will renew again for next year.

Just completed one this evening and have completed others prior and have not had this problem and hope that I don't have this problem. Thanks for the heads up

I agree file part year resident returns for each state. You have to separate the income pertainint to each state. The federal total will flow to each state return and you will have to allocate for income and taxes paid. The big dividing factor is the W-2 forms

Had a client e-mail me her rental property information. A little background, this property was converted from personal vacation property to vacation rental property in 2010. Here is the kicker, she gave me the figures and said she would like for me to do all I can to show a loss and if it looked close, call her and she will help me make that happen. Are they kidding? I don't know how many more I can take this year.

I can see both sides of this discussion. However, I agree with Jainen on this one. It is hard sometimes watching what people do and I understand your concerns for the parents in this situation but the fact remains they came to you to get their returns prepared professionally and accurately. Got to keep the emotions out of it. On another note, Jainen made reference to the fact the parents should be so lucky that the kid is atleast working and going to school. I agree, I work with young people every day and trust me, they are more fortunate than you think. Working at some job and going to school doesn't equal total mooch. Now I am not taking up for the kid, by your post, he does need an attitude adjustment but not from his tax preparer.

Where does it say "her standard deduction is zero" "If your spouse itemizes deductions, you cannot claim the standard deduction. If you can claim the standard deduction, your basic standard deduction is half the amount allowed on a joint return." Question if your spouse itemizes and you cannot use the standard deduction that what deduction do you use? Maybe your statement is incorrect as well?

I did consider being the nice guy here and giving her the $35.00. I wouldn't take her back next year at all because of the question she asked. Matter of fact, if she wants to further harass me, I'll probably give it to her. Stupidity on her part doesn't trigger sympathy on mine. This girl is playing some kind of game here that I knew nothing of until the return was transmitted and because I refused to listen to her I still have no idea what illegal thing she is talking about nor do I want to know because of the position it puts me in. I didn't use this in a stupid way, I simply went to the bank and deposited the check on the date it was written as she asked. Agreed $35.00 is nothing and that in and of itself is not my concern.

Client comes to my office, gets taxes prepared and completed on Feb 11th. Fairly simple return, client asks if she can post date her check till she gets paid on Feb 15. I grudglingly accept. Check is dated Feb 14 and stupid me, I go to the bank and make a deposit on Monday Feb 14th. You guessed it, client's check bounced, she was charged $35.00, me nothing got my money. Now, client thinks I should reimburse her for the $35.00 fee for not waiting to cash a check dated earlier. Huh? I forgot, I didn't read her mind and didn't know she made a mistake on the dating of the check so again, it is my fault. Huh?? Well now, here is my final response to the client, remember when you asked me if I would turn you in to the IRS for telling me you were doing something illegal after your return was transmitted???? for $35.00 I'll keep my mouth shut. No, I don't know what the illegal thing was cause I asked her to leave, don't care and am glad she is pissed enough to not come back next year. Geez!

Only way that I am aware of is to unlock the form, enter the information in the cell where you want it and then lock the form. I beleive this is under the edit tab.

Me too, been doing it that way for fourteen years now and no problems

Catherine, I would file the 2009 form as it is apparent the 2010 form wouldn't have been available even if the return would have been filed on time. Just my thoughts.

JB, these type of questions are very interesting. I don't get to see hardly any of these type of returns here in NC. However, I am pretty sure the divorce laws are similar in that a spouse can receive retirement from their significatn ex-other. Questions I have are: is this considered alimony? If so, then it would be pretty clear that the receiver has to claim the amounts as income and the payer gets the deduction. But, who pays the early withdrawl penalty if one applies? Is the penalty split as well? Really, it only seems fair. Does the receiver claim the withholdings as taxes paid? I would think so. Again, I find this interesting and would like to know if my thinking is correct. I'm sure you're having enough fun with these so I won't ask you to have more.

I had the same thoughts as bcolleen. The original cost, plus improvements along with other items that can be added to the basis minus any depreciation would be the figure used to determine loss or gain????

As of today, I have received ackowledgements for each return transmitted with a Schedule A that was on hold. NO REJECTS!!! NO PROBLEMS!!! I am excited.

Hmmmm good question. If the father was required to provide insurace, which many are, he would enroll in the family plan with his employer. Personally, I would think the premiums are deductible and if not how would they be separated? Just thought I would add another twist to the post.

Here's one. Just finished this client's tax return and she is getting almost 5k refund. it is important to note this person works in a law firm and makes 50K+. After reviewing the return with her, I asked if she had any questions and she said yes, just one. "If I told you I was doing something illegal do you have to turn me in?" Me: Dumb looks are hard to conceal when you're caught off guard.

I have sent quite a few using TRX and so far no problem but no acks either. Guess we will all know tomorrow.