Jack from Ohio

The court case was about a taxpayer being audited well after the filing of his return. He then proceeded to get a "corrected" statement from the organization. The court ruled that it was not a "contemporaneous written acknowledgment" and disallowed. Therefore, if client has the statement before the return is filed, it is "contemporaneous" and not an issue. Such was NOT the case in the tax court case.

Why would you want to attach it to the efile?

They are not following the proper steps for installing the updates. Another example of diving ahead without reading the directions or thinking they know better than the instructions. Dedicated server and 10 workstations. All updated successfully within 20 minutes of the release of the update. No issues so far. Updated at 3:15PM today.

Printed dates can be manufactured... No value.

No comment.....

What part of Ohio are they moving to?

If the 2% threshold wipes it out, I put it on. No actual deduction, but the taxpayer thinks "I got to claim it." Usually, these same people end up with standard deductions. I print the Sch A and the taxpayer thinks they put one over on the IRS. None of those types ever look at the back of the 1040 to see the actual deduction, they just look to see if it is "claimed" on the return. I wish I could experience the sensation of living and being that clueless about everything.

When you scan, use the highest compression setting and only 200X200 resolution.

She chooses to stay in the situation. No help available for her.

It has been my experience that taking the deduction of the taxes paid on the amount repaid is much better.

The loss is limited to $25K for MFS.

Epiphany is a wonderful feeling!!

Many do just that very thing.

I tried. The firm I work for part time is located 20 miles from Wright Patterson AFB. We do more than a few military.

Sidney must be one SPECIAL kind of town!!!

New Jersey is his domicile state. Where he lives does not change that. If he wishes to change his domicile State, he must do it through the military. It is also the domicile of his spouse. She gets special treatment due to his domicile state. Essentially, any state taxes withheld will be refunded because they are non-residents of Kansas based on his Military domicile state choice.

Where does it say how much the property was sold for? Is that a new box on the 1099C or are we still speculating?

Their state of residence will be listed on the W-2 in the state area. That is their "State of Record" despite their mailing address.

Personal loss. Not deductible.

We cannot dispute, appeal or control the process the banks or lending institutions use to determine the amount of write off. That is all internal policy within each institution.

Hairdressers are not banks. Show me any rules to dispute my position.

I disagree, but I seem to be outvoted. The amount the bank WRITES OFF THEIR BOOKS is the amount on 1099C. If I owe the bank $200,000 on a rental property. The bank repossesses it. The bank sells it for $1,000, the 1099C will show $199,000 DESPITE the FMV. Show me any rules to dispute my position.

How much did the lender write off? That is the amount to use for sale amount on 4797 and the amount on 982. Period. Basis for the sale would be exactly the same as if he sold it to someone else. FMV has no bearing on either calculation.

If the 1099-C shows $200K forgiven, that is the amount that was forgiven. A completely separate function than the 1099A selling transaction. FMV has no effect on what the lender reports as debt forgiven. This is a function of the lender's bookkeeping. The only way there would be no debt forgiven is if the lender sold the property for the exact amount of the loan. Not likely to happen.