Margaret CPA in OH

Yes, I do. I have a little spreadsheet that has the qualified tuition less AOC then remaining expenses. To that I add 529 qualified expenses and have a calculation that determines whether or not any of the distribution is to be included in income. I've had clients in both situations but usually do a little planning ahead to prevent that.

I'm not completely clear on the question. Under the E-File Manager tab are all your e-filed client submissions incomplete even if accepted unless you mark them complete and have chosen not to show the completed files. To see the hidden ones, if you chose to hide, click on Complete and they are all there. I'm wondering why you don't just duplicate a given return and change the name to test or something and delete after you put in your test data. If you do use the Complete check box, any time you change anything and try to close it, you get a warning about saving changes so it shouldn't happen accidentally.

Welp, angels fear to tread here but, again, from QF, it just says "Employers with 100 or fewer employees (including self-employed individuals) that do not maintain another retirement plan." are eligible to establish a SIMPLE IRA. It doesn't distinguish between employer entities - sole proprietors, S or C corps or p'ships. From irs.gov: Available to any small business – generally with 100 or fewer employees Easily established by adopting Form 5304-SIMPLE PDF, Form 5305-SIMPLE PDF, a SIMPLE IRA prototype or an individually designed plan document Employer cannot have any other retirement plan No filing requirement for the employer Contributions:Employer is required to contribute each year either a: Matching contribution up to 3% of compensation (not limited by the annual compensation limit), or 2% nonelective contribution for each eligible employee Under the "nonelective" contribution formula, even if an eligible employee doesn't contribute to his or her SIMPLE IRA, that employee must still receive an employer contribution to his or her SIMPLE IRA equal to 2% of his or her compensation up to the annual limit of $305,000 for 2022; $290,000 for 2021; $285,000 for 2020 (subject to cost-of-living adjustments in later years) Employees may elect to contribute Employee is always 100% vested in (or, has ownership of) all SIMPLE IRA money and further down: When must contributions be deposited? Employee salary reduction contributions - within 30 days after the end of the month in which the amounts would otherwise have been payable to the employee (including self-employed individuals) in cash Employer matching or nonelective contributions - by the due date (including extensions) for filing your federal income tax return for the year If you haven't deposited contributions by their due date, find out how you can correct this mistake. Hope this helps! It's IRS words this time, not QF

kathyc, not me, I just read 'his own business' and jumped to the conclusion that is was a Sch. C. It wasn't clarified that is was an S-corp until I answered. As I have had employees with W-2's, it still seemed it was a Sch. C. All seems to now be clear or not. And what I was quoting was from a QF booklet, not IRS regs or law. No offense taken, hope not received. We are all friends here trying to help each other out and sometimes things are misinterpreted/misunderstood/mistyped/unclear. I will now crawl back into my cubby and continue to lurk while waiting for the party plans in the air to be finalized. And you should come, too!

So then QF is in error although I thought I was clear in distinguishing between the SP deferral and the SP as employER contribution. I quoted "self-employed taxpayer's elective deferral must be deposited by January 30 of the following year (January 30,2022 for 2021 amounts.)" The employER (same as the SP) contribution, 2 or 3% is due by the return due date, including extensions. I did not quote from an IRS publication but from the current Quickfinder and have followed these dates since I began my plan about 15 years ago. I suppose I should notify Quickfinder publishers (Thomson Reuters) that they are in error. Nah, I will keep doing what I do and others may decide differently. In any event, I took the original post as a SP (his own business) but it was clarified to be an Scorp.

We have to have something to dream about in the future, right?

Rita, of course, would have to agree, but I vote YES!

QF says employER contributions by return due date but employee self-employed elective deferrals must be deposited as soon as reasonably possible but no later than 30 days after the end of the month in which the amounts would otherwise have been payable to the employee in cash. A self-employed taxpayer's elective deferral must be deposited by January 30 of the following year ( January 30, 2022 for 2021 amounts). I always hustle early January to get my books and deferral done as I have a SIMPLE although no employees any longer. I have a tad more time for my matching amount.

Yes, it did go through once I added Sch. B. I did check to print to pdf both pages (3 and 4) as B carries over. I missed that the first time. I did not get any message about 951A - no clue what that is. Just had Passive Income at the top. I've got another coming up later this week and hoping it will go through, too. Stay tuned!

Hmm, maybe this should be in the Tips and Tricks Pinned files. Thanks, Abby Normal! I no longer do business returns but this seems quite useful.

This is weird! I e-filed a return for 2020 for a deceased client with no problems and again for 2021 (she died in February 2021) with no problem. I would be surprised if it was IRS.

Sometimes just closing down the program and reopening is useful. If you've been at it continuously, you both probably need a bit of a breather and restart.

Yes, cbslee, more than I want to know. I did read through it and none of the explanations seem to fit especially as there are no forms W-2 and this is an OH error. Hoping it's an ATX glitch but fixed soon. This is a $6000+ refund from OH meant to cover the tax due in KY as they moved mid-year with no change in retirement distribution withholdings. Sigh.....

Interesting! Did you ever figure it out? I looked to see if new forms downloaded were related but they were not. Kind of makes me crazy to not have simpler clues as to the problem.

This is in sort of English which is my first language but I cannot decipher it. X0000-005 The XML data has failed schema validation. Fields commonly associated with this error 1. I cannot even begin to figure this out. It's a rolled over return successfully efiled multiple time. The form goes to the Ohio Electronic Filing Information page. I have double checked every entry. There were no error messages before. Anyone?

Bummer - trying to file a 2018 for a woman with dementia onset in 2018 who was told (heard) that she didn't need to file tax returns any longer because tax was withheld from her retirement distributions. Turns out she actually had a 2018 W-2 and substantial withholdings so is due a $5000+ refund but I need to see if there are outstanding other income reports. Her brother was able to get a duplicate W-2 from the university (really good luck!). In the ensuing years she discarded all, and I mean all, financial information and documents. I figure worst case is that we paper file by April 10 and if I can't find out any other documents like 1099's, IRS will find it/them and reduce her refund. I'm thinking the interest earned would offset it. Then on to 2019, 2020, and 2021 after April 15. Her retirement 1099's were able to be downloaded and lots of extra withholdings so all good.

Nevermind, I was too impatient. I got there only to see that my CAF check failed which means not yet processed. Ugh! Sorry to bother y'all.

I faxed a client's 2848 last week and tried to check with e-services to see if was accepted yet so I could get transcripts. Well, I cannot find where it went. I searched and it took me id.me, I had to have my face scanned and uploaded the 2848 also. But I still can't figure out how to see that one or any of the previous ones listed. Where did IRS hide it?

Penalty for? Do you mean 2210?

Alas, the message says to create the pdf to attach. So guess I will do that. These folks have always, to my recollection, had more than $600 ftc. They are from Germany and I think some of their investments reflect interest in more global investments.

Oh we've filed 1116 every year. They always have ftc with their investments. I guess I can do this but am baffled that it apparently is not a part of the 1116 that would be e-filed, too. I mean, it's page 3 of the form, not a separate schedule. Sigh... at least the part-year resident thing got fixed. Small victories.

In running a Check Return today a red error message said that Form 1116 Schedule(s) B must be attached as a PDF... I've never seen this before. There was only a $48 co from 2020 so this seems overkill. I see the amount for the first preceding year on Sch. B but cannot fathom why this isn't part of the transmitted 1116. Might someone clue me in, please? I've had many clients with these carryovers and never saw this before.

Just lucky, I guess! I did look it up but still don't understand why the entries from the K-1 seemed to make this automatically appear. I will contact the client for any insight. I doubt there will be immediate help however. The trust was set up after father died last year and brother (I think, or other relative) is trustee. It may have to go to the trustee. Then again, maybe it's just ATX gremlins, you know. I could ask on the ATX Community Board but it seems to have disappeared. At least I couldn't find it. Another WK coup?

Client has a trust K-1. When I input the data, this form suddenly appeared thinking it is related to H, Adjustment for section 1411 net investment income or deductions, -10,753. Never have seen this before. Since Box 5 has $19,960 Other portfolio income, maybe it's related to that?

And I just checked the messages, ATX News, and yesterday it said NC was now accepting e-files, March 1 at 3:22:05pm. So I got lucky with timing but you should be good to go now, too.