Margaret CPA in OH

I submitted a return with a 1310 with C, Person other than surviving spouse or court-appointed rep.. It went through just fine, refund deposited. This was in February.

Hmmm, no wonder things didn't smell right.

I wonder how he knows that he spent $71k and how he knows what he sold to bring in $50k. How does he advertise what he has to sell if he doesn't know what he had/has now? How does he know whether or if it is worth the price he is asking for, say, a given trading card if he doesn't know what he paid for it? If the hired professional appraised the cards, wouldn' the have that appraisal for each card he sold? If not, how or why would he sell it? So many questions...

I, too, have gone mostly paperless a few years ago. When clients bring or mail documents, I scan and return but have been fortunate that perhaps 60% have been able to navigate the portal and upload at least everything they have in pdf. And I upload the client copies of the returns and encourage them to print or save. But, with several folks of a certain age in years or technology education or equipment, I do still have some number that want that printed copy. Just so glad to have a lot less nowadays!

In my opinion, since this was a new purchase and had to have significant 'things' done to prepare to place into service, the expenses should be capitalized. I look to the Tangible Property Regulations Reg. section 1.263(a)-3. The AICPA put out a Quick Summary of Final Tangible Property Regulations a few years ago and RSM Consulting has some nice decision trees to help. https://rsmus.com/what-we-do/services/tax/new-flowcharts-provide-clarity-on-the-final-tangible-property-re.html When I look at both of these given the OP's description, I come down on capitalization. YMMV. I did not look at the definition of Leasehold Improvements because the description did not say the property was leased, rather a purchase.

I wonder if you need to wait for a form undate. Maybe check the form number. Perhaps you may have to wait until the next update which includes the UI information. Or maybe check under the letter options. I just noticed that you can change the Federal return due date but that may be only for the letter. I don't have anyone now that owes to try this.

I vote for whimpering under the desk. Holding head with aching brain.

Missing something here - with only $1 of interest, how does that overcome the standard deduction?

Yup, fire away. It isn't worth it. I've never been audited but want absolutely clean records, to the best of my ability. And you are correct, how can you trust anything going forward?

i just went through a like situation and looked at the dependency criteria. The first question is whether the taxpayer (student) could be claimed on someone else's return. Then I looked at support. The student in my case still lives with parents and parents actually paid for all education having exhausted 529 plan as well as insurance, etc. Although the student earned about the same as your student, there was no way he was providing over half his own support. So I decided no. In my opinion if the student had scholarships or grants or student loans plus job, yes, probably provided in some way more than 50% of support but not in my case. Your mileage may vary, as they say.

Another possible option is to file the return as of date of death as that is when the taxpayer's year ended. I just read this morning about possible tax planning opportunities (doesn't seem, well, seemly) regarding filing jointly or separately in this regard. Your situation may not directly apply but I wonder if just having a 'short year' would make a difference. I agree with Judy that trying alternate indications may help.

Sadly I believe the term is 'allowed or allowable.' Thanks for bringing up this situation as I have now learned about the qualified extended duty exception. In 25 years, I've never actually had an enlisted client other than my son in the National Guard.

Exactly! I was certain it was something I did and still might be thus ruining it for everyone. Oh well, eventually that thread will disappear and so will the weirdness. Thanks for replying, Gail! It's good to know one is not alone.

The other day I was looking at the Unemployment topic and did something that caused the panel to move to the left side leaving about 1/3 of the screen on the right that has a listing of things. I have no idea how to change it back to the original look and it is only on this topic, it didn't carry over. Ideas on what I did, more importantly how to undo it?

When you click in the original (or a duplicate) return to amend, Form 1040X appears, right? Then you change the numbers in the 'original' 1040 to populate the amended column. You already know the figures for the original column. When creating the e-file, 1040X does NOT appear but, by its presence, the system knows that it is there. See the responses in General Chat where you have also posted this. I believe that the original must also have been e-filed though not necessarily by you. After you e-file, the tab under 1040 EF Info, E-filed Forms, will list all the forms that were sent including the 1040 that you altered and the 1040X as well as all other schedules some of which you may have had to add when amending. It works, really!

No, you don't see the option for 1040X. If the 1040 is there and the 1040X showing the original figures and amended figures, the system knows it is filing the 1040X because it is there. When you submit, look at the tab to see the documents e-filed and Form 1040X will show there. It is a bit disconcerting but works. One would like to think that there would be an option showing 1040X but....

I e-filed an amended 2019 return January 31, accepted same day.

ATX does have Form 37, the RITA return, which you could also use and print out to mail in. If there are losses or other wrinkles, the RITA form is specific. You would get a warning about e-filing but just ignore and print out like you would for the Form r.

Only those cities managed by RITA, Regional Income Tax Agency, can be e-filed. Here are the member cities. https://www.ritaohio.com/municipalities Many other cities, that I know about, can be filed online but, to my knowledge, not through a single software program and perhaps not by a preparer. Check the municipal website for each city in question and/or check the ATX cities package. ATX outside that package does have many city form and a generic form which other cities must accept by law but they have to be mailed in. Doesn't bother my clients. Some residents of RITA cities are willing to go to the local tax office where their returns can be filed for free. If e-filing RITA, it costs extra. Maybe more than you wanted to know...

Same situation just landed here, but reversed. It appears as though both end up getting the money as the payouts were first determined by 2019 filing to be adjusted for 2020 filing. Gaahhh! My brain hurts with this and APTC.

Okay, I will ask if she recalls seeing that on her pay. It was in 2012. If she doesn't recall, is it safe to assume that it was included? The value is about $3400.

A client was gifted 49 shares of stock on retirement several years ago. Is her basis (she sold last year) the market price at that date? Seems a bit odd as the 'donor's' basis would not be the current share price, would it? Happy to use that as basis. I've often managed stock gifts among family and friends but not as a retirement gift from a company.

Hugs back to you. Know that we are here grieving with you.

Click on the green arrow on Line 26, choose Ln26-Est Tax.

I just received another notice (first in December) about 3 unsuccessful login attempts so automatic 24 hour lockout. Of course it isn't me trying to login and I will follow the instructions as before to reset the password but this is annoying and concerning. Why try to access my e-services account?