REBECCABAILIN

Thanks in advance

I have a client with a managed investment fund.  The 1099 DIV shows $250 of Foreign Tax Paid which I input in Box 7A.  

The $250 is not showing up on 1040/Sch 3 Part 1 Line 1.  

In years past I noticed that unless you fill in 7b with a date, it won't flow.  So I put in 12/31/2019 since there are a ton of transactions all year.   I filled in 8a as "various".  

I wondered if maybe NOT having 8b, 8c and 8d filled in was the problem.  I don't know the totals.  It's 126 pages of detail for the 1099 DIV with umpty ump foreign transactions.  So I tried a few numbers in those boxes.  Still no flow through to 1040/Sch 3 Line 1

I also found a worksheet for 1040/Sch 3, Line 1 and I checked the box for Form 1040 on line 2.

Does anyone know how this works?

sorry, posted by mistake

Client is a CA resident (wife lives in CA). He flies to NY most Sundays and returns to CA on Thursday.

77 workdays in NY. NY non-resident with NY source income. The only "other state" income is wages (thank god)

I don't get the CA Schedule S.

Ln1 - Double Taxed Income Worksheet.

Column b I put the TOTAL INCOME listed on the W2 for CA

Column c I put the TOTAL INCOME listed on the W2 for NY

I didn't try to allocate by the NY workdays vs. the CA workdays.

It looks like the result is that I got the "other state" credit (code 187) on line 43 of the CA 540 -- it looks like I got the whole NY credit off my CA liability.

But I'm a little nervous that I did it wrong because ATX asks me to INPUT CA SCH S line 4 (CA AGI), line 7 (NY tax liability) and line 9(NY AGI). why would it have me input this data?

thanks, everybody.

good call, Bart, the first used in business date I had NOT had on there and now it gives me an allowable depreciation.

i had assumed there would be an Asset Entry (like all the other software I've used) that I could link to the 8829. I can't get an Asset Entry screen to come up, much less link it to the 8829.

I hope this Depreciation allowable (line 41) is being saved somewhere in case a client sells the house and needs to recapture the depreciation.

can't figure out how ATX does Part III of the 8829.

if i enter house value and land value on 36 and 37 then it properly does basis on 39 and multiplies times business percentage to get 39.

you can't enter line 40 or 41 -- how does it get there? it seems that it should be an Asset Entry but i can't figure out how to make the Asset Entry "point" to the 8829.

help!!