Margaret CPA in OH

Thanks, I did that, but it assumed that the filer was the VA resident so filer and spouse were totally backwards. That was inputting for 2009 to rollover. She was a part-year resident in 2009, full year in 2010. For 2010, I used the form you show and I switched the filer and spouse on the federal input trying trick it. It still carried over 2 dependents for self and spouse. It didn't calculate the spouse tax adjustment. I had to link the fields to make it work. Any other hints because I may be doing something else wrong! I also had to override the address for the VA resident. This is complicated as federal assumes folks live together when filing jointly. Go figure!

Go get 'em JB! The strong drinks, I mean!

Just curious, why would you be reporting transactions within an IRA? I never list cusip, just securities and shares. Finally, if these must be reported, have you tried to get a csv file from the brokerage firm? This was a discussion just yesterday, I think.

In 2009 spouse 1 took great paying job in VA, spouse 2 stayed in OH. VA allows MFS when federal is joint (I checked the instructions) although OH does not. Is there a way to change the VA filing status without overriding the many fields it would involve? Thanks

And besides, it's beer-thirty or vodka-o'clock _somewhere_, isn't it?

Silly Ken, you must have updated....

And that's part of the message I relayed to him. I asked if he was doing this for the benefit of the dogs or for the tax deduction. Didn't like that question. But then mentioned the GE thing that he was paying more tax than they were. I happen to know this client supported Gov. Kasich so I responded that it was hard to understand politicians and other who keep saying how we must lower the tax rates on business, etc. Well, his rate was 15%, GE's was zero, apparently. Client didn't respond to that, either.

I did deduct up to $500 of out of pocket expenses without itemizing what they were. It was not possible to have the needed data for 8283 and the organization declined to provide a document substantiating those expenses because they don't audit the foster providers. Client wasn't exactly thrilled to be limited to $500 and forego the other $150 especially after reading about how he paid more tax than GE. But he also did not want to provide the details for 8283.. Thanks for all the input.

NECPA, that kind of news is never easy to hear but especially brutal when you need all your mental vibes to just get through the next 2 weeks. I hope you feel our encouragement going out to you and wishes for the best for your husband.

Cuba early May, Maldives live aboard diving in September

Thanks, Lion, I didn't think about shared items. There may be some as he does own a rescue himself. I have called the organization and left a message. A volunteer will get back to me. The problem is this guy is so defensive about this. I am only questioning the excess of $500 and letting him know that he needs the substantiation for 8283. It the out of pocket was $500, I wouldn't be concerned. Sigh....retirement looks better every day.

Thanks for all this information, folks. I think I will call the agency today to see if their policy is the same as the link shown here. I couldn't find the same language but also note that it says "may" be tax deductible. Recently I've been discussing with some clients who want to deduct every little thing to charity that maybe they want to decide whether their intent is charitble or a tax deduction. Sometimes they decide the record keeping isn't worth it.

A client fosters rescue dogs for GGRAND, Golden Retriever Rescue..., a 501©(3). The website states that the organization 'works hard to provide supportive services to our foster parents. Vet care needs and expenses are borne by GGRAND.' So client has $659 he want to claim as out of pocket expenses including food, grooming, chew toys, beddings, collars, antibacterial ointment, bandages, and vitamins. I have no problem with the mileage incurred to pick up dogs to take to other homes or to the specified vet for treatments but wonder about the food, etc. I asked if he received a letter from the organization in acknowledgement because it is over $500. He wasn't happy about the question and responded in all caps. He said he recalls from the initial contract that it stated that he was responsible for normal care: food, water, grooming, etc. as a volunteer foster home. He does not state that the contract specified that those expenses would be a contribution. It doesn't seem like that much in the grand scheme of things but I guess I'm getting a bit more cautious. Would these fall under volunteer out of pocket expenses for a qualified organization such as scout leader uniforms? It's just that it seems a lot of money. I know he does this out of genuine care for the dogs and I commend him, but....

Michaelmars, my replies #2and #6 above. It seems so much more practical than separate vouchers and mailings. Diff'rent strokes...

I didn't read it all, but on IRS.gov I looked at the instructions for 8606 and there looks to be some detail about how to do this. Maybe open an 8606 and click on the ? Then scroll to page 3 at the bottom right, "Recharacterizations."

I have one client for whom we will elect step up as it is under 3 million and the stocks are in a family trust. The wife, it's a gamble, may have to pay Ohio estate tax when she passes - she's 97 - but the money is on the elimination of that by the time she passes. The other client is unknown as the deceased is in Massachusetts, the surviving spouse at 85 isn't too up on the situation, the executor is dragging heels in responding and the attorney isn't answering emails. Sigh.....

I just reread the instructions for estimated tax and noted this on page 4: "Enter in the box provided on the estimated tax payment voucher only the amount you are sending in by check or money order. When making payments of estimated tax, be sure to take into account any 2010 overpayment that you choose to credit against your 2011 tax but do not include the overpayment amount in this box." This year I had a client for whom I credited the entire amount against estimated tax. I don't see the problem. I don't recall seeing any notice described by bcollen but I also don't claim to notice everything. I take the above passage to mean, as I have done for years, that any overpayments reported on the return credited against your estimated taxes will be applied as indicated. If IRS has the money by April 18, there should be no problem. On page 3 it even gives a tip that one can make more than four payments.

I include a predetermined amount that includes balance due plus first quarter estimate plus maybe a little bit more, depending. When the return is prepared (I have, so far, never prepared a balance due return beyond end of May), I indicate on the options the amount exceeding the balance due to be applied sequentially to estimated payments. The balance of the estimates are then on the remaining vouchers. I think the ATX mechanism for this works very well and is easy to manage.

Thanks, Pacun. Can't imagine why I didn't think of that! Wrongly assumed it would not be taxable here. So now I've downloaded way more pages to browse than I want to but need to. I smell extension in a major way... Thanks again for the reminder kick in the uh...

Client inherited about $500,000 from sister deceased in Germany. This was cash and proceeds from sale of house (still waiting on the information as the house was rented for a while - should be interesting). He had to pay 25% inheritance tax and wants to deduct it on his US return. I think that, since the inheritance isn't included in income, he shouldn't get a tax deduction. Or is the inheritance, because it's foreign, to be included? New to me!

Thanks,Catherine. You always have the best stuff! You and KC and some others here are just so smart and willing to share. Much appreciated!

Thanks, I'll check after the 18th.

Is there something like that for regular phones? Some of us don't have smartphones (can't afford and/or just don't want) but also don't like the hours waiting for a human to answer. Frankly, I can't imagine anyone using a smartphone just to call IRS but, then, I don't have one so what do I know?

Love the pun...

Oh my goodness, you are a youngster! I graduated from high school that year. Thanks for the history lesson, jainen. My husband would know that but I never did keep up on those things. I just enjoyed the music whenever...