Margaret CPA in OH

I KNEW there was a reason we bonded, Catherine! I, too, do my return first to check out the program, etc. I don't usually file until sometime in April as I like to watch the form updates over the weeks but I input all the data. After all, I have to complete the payroll forms for my part time employees and other reports so might as well git 'er done!

that one could file by today such a form stating that an amended form is anticipated and it would "hold" its eligibility while an actual form is prepared and subsequently filed. What is this amazing form? I don't know everything or even close to it but I get antsy when my clients know ever so much more than I do!

Chiming in here, too. JRS, it isn't just the knowledge, I think. It's the collegiality and downright friendliness exhibited every day that makes the difference, in my opinion. We run the gamut in experience and mostly don't just tolerate each other. We enjoy helping out when we know or think we know an answer. I am so grateful to be a part of this group, mostly taking, I am sorry to say, but occasionally able to give. I just wanna be KC when I grow up!

Maybe you should recheck that you answered each question in order. I had trouble with this a couple of years ago until I took my time and went step by step. From your information, I think you answer No and go to B and answer No and go to C and answer No if, in fact, no cash wages of $1000 or more were paid in any calendar quarter. If you answer this way, it says do not file the schedule. You never get to Part I, line 9, so no conflict.

Uh, gag, is pretty much the right word. But we have been enjoying this blossoming romance. Sort of soap opera-ish, don't you think? I wonder if it will return in the new season, new plots, new characters, new sponsors, etc.

Well, I did extend but not because of the 1041-A issue. When the 5227 was redesigned, I recall that at least part of the intent was to incorporate much of the information that was duplicated on the 1041A. My 2 CRUTs don't need it. Did you have to reenter anything on the 5227? When I looked at the K-1 forms, the CRUT name, ein, etc. did not come over after deleting the 1041. The figures did, but not the other stuff. And the letter is wrong so I skip it altogether. The mailing address should be Ogden, of course. My calcs all seemed fine. Good luck!

Caller ID has saved me more than once! I resisted for many years but am now so glad to have it. Sometimes you just don't want to talk to that caller!

Ray in Ohio, that's why KC gets the big bucks here on this board. She always explains the whole enchilada and does not assume background like I do. I wanna be like KC when I grow up! You will survive with the likes of this wonderful group. You made it this far and I suspect we, at least most of us, will be popping in and out over the next several months and regroup next season. Now rest easy, you deserve it!

Hmmm, I wonder if/when I, too, might find true electronic love here...I am so envious of you, Catherine. I guess the trick is to put up a picture that will attract the likes of a Booger. (Did I actually write that? Do I really want a Booger?)

I don't have any military retirees, either, Whew! but it does say in bold NEW. On a quick perusal of the instructions for IT-1040, it does have it listed on page 2, Highlights for 2008. I guess ATX can or does provide only so many alerts. Does the military retirement 1099R equivalent have a special indicator that it is military? I guess it's just another blue field and, like the ltc insurance deduction and some other health insurance items, we just have to know to look there!

Yes and yes. When you select efile, you are given the options of forms to efile at that time. You'll get it; we all did and we are not smarter than you - especially today!

So far I have 19 extensions, a record for me. But after Wednesday, I'm all about my son's wedding May 16 and the brunch we are hosting Sunday morning for the out of towners, about 75 people. This winter my husband has been refinishing all the second floor floors and now has to paint the downstairs. The place is a disaster! Stuff is everywhere and full of dust from the sanding. Window washers are coming, landscaper is coming, house cleaners are coming and all the money I earned is going, going, nearly all gone. But what a wonderful diversion and just 2 weeks after the marathon...

Terry, that white screen has been happening to me, too. I assumed it was because I had gone into and out of so many returns that the digestive track was clogged! See my response re K-1 and 5227 elsewhere and let me know if more is needed.

Hi again! In the past one had to include a Form 1041 for the data entry and then ignore it. ATX now says that you don't need it and it isn't filed, which I already knew. However, when I deleted the 1041 fro the rolled over CRUT, SURPRISE!, most of the identifying data did not stay with the 5227. I had to reenter it. I did not take the time to start from the beginning. You probably also know that 5227 has been extensively revamped and now, in most cases, you do not also need 1041A. You do need the K-1 (1041) and the data will flow through. I think next year I may just try as new clients and start with 5227, K-1 (1041) and bunny hop to data entry and see what comes up. I had a problem with information going to MAE3 so sent the file to ATX and they came back with some stupid stuff I will explain later but a client just walked in. I think this info will help, if not, I will get back to you.

KC is correct. The tax cards show a value of $860 for each of 40 acres, total of $1720. Clearly not market value. I will share this info with client tomorrow. Thanks again to all.

Thanks, Zeke! I didn't think/know that was possible, especially two years prior. Client is coming in tomorrow so it works for me!

Client inherited land in 2006 he thought was not worth much until last year when he was offered $72,000 for mineral rights. His cousin offered to buy, client agreed to $72,000 plus what his fathr paid ($12,000) many years ago. Just now I received from the attorney an in-house appraisal from the bank that loaned the money to the cousin to buy. It is for $150,000. There was no other evaluation at date of death in September 2006 in the piney woods of Arkansas as no estate tax return was required and the attorney said they didn't have a valuation. From my reading, cousin is not related party, transaction is long term, but what would be the cost basis. I have no way of getting the true value at dod nor does my client here in Ohio. I'm thinking the $84,000 would be fair as, in 2006, no one was thinking mineral rights. My client really isn't interested in big capital gains but he doesn't want a loss, either. Suggestions?

Well, don't gloat, just send supportive soothing messages to the rest of us while we are green with envy and other stuff!

I don't think I have enough brain left to hurt but my eyeballs are smarting from lack of sleep.

Thanks, folks, for the advice. You all are correct: if things go well I am wonderful, if they don't I am mud. And I should not be assuming their problem as mine. She can get the money from him to cover the check!

Hot off the email! So she actually read Pub 587 and now has informed me that her charitable mileage is actually business mileage, exactly 50% Jan-June and 50% July-Dec. And she uses her dining room table for the employee related work recognizing that she cannot deduct house costs for that. She didn't answer if she has a second computer but informed me that she has wi-fi so internet access in both places! I'm thinking this is a good candidate to refer to somewhere else next year - but she is really nice. Sigh....

Thanks, bcolleen. I will need this for 2009. So nice to know ahead of time!

Well, I wouldn't say exactly gone snippy, probably Tax Stress. But here in my neck of the city, we don't have friendly farmers. We have, well, other characters, not so friendly, that keep pushing buttons and time limitations. One example is a client who wants to take a double deduction for her home office for self employment and for the work she does as an employee. This would be deducting her internet access for both, computer usage for both (she already claims 100% business), and cell phone usage. Take that back - she is reimbursed for 70% of her cell phone and claims the other 28% for business. Hmmm, no personal use at all? I forwarded Pub. 587 and asked her to review Qualifying for a Deduction and get back to me. Guess I am a bit testy...I will try to restrain myself or at least not reveal my true feelings!

Ooooooo,, I like that one! And I do have at least a couple of folks with whom I am sorely tempted to share this piece of opinion/advice.

I'm bumping this up just in case someone has some insight...or even knowledge or experience to address this. I need to put something in the field soon. Thanks!