Jack from Ohio

Update your forms. The Ohio forms were approved for paper filing on Friday, Feb. 20, 2015. Update - Update - Update ATX must wait for the State of Ohio to approve the ATX forms. It is NOT an ATX problem.

I understand that the taxpayer can log into their account on the marketplace website and it will tell them if theirs is one of the affected. I have not verified this, but may be worth having them check.

Don't waste your time trying to fix it. Those were the same steps promoted to help program speed as far back as 2009. It is inherent to the way the program is structured. They chose a VW engine to attempt to power a Formula One race car. It will never go away if you have more than 100 clients, and only gets worse as the number of clients increases. Spend your time with those "fixes" if you wish. The will NOT work.

Yes

ATX is STILL struggling to make the program solidly functional. Whether a form rounds or not is 135th on my list of things they need to attend to. I can round numbers easily.

If I can't look at a number and round it up or down immediately, I should NOT be a tax preparer.

Agree. Yes I have several every year.

I NEVER use a decimal point on any input to the tax return or program. Problem solved.

I would say that there is a 1 in 500 chance that anyone looks at those descriptions. I agree with cbslee. Call it what it is and go forward.

If it was a loan modification, there was no money out. That would negate the need for the modification. This IS as straightforward as it seems. If the house is surety for the loan, it fits.

That is very nice, but the IRS computers that spit out CP2000 notices have no clue.... When it doesn't match, it doesn't match. Hence the creation of the CP2000. I have templates of the letter to answer this with. In the last 5 years, at the firm, probably 25-30.

Keep in mind that there are 800,000 1095-A forms out with wrong information on them.

Examples of our education system at its finest!! (s)

Don't change the code on the 1099R, but report $0 taxable. Rollover is NOT the proper way. Wait for the CP2000 next year. Get copies of the check from the withdrawal and the receipt when it was re-deposited. When the CP2000 comes, send the documents. Any other things you try will only confuse the situation and will not work. This from multiple experiences.

It is my opinion, that since the cancellation was for debt on his primary residence, you can use that reason for not taxing it on form 982. We had a very similar situation.

What she said!!

ATX allows box 7 of the 1099MISC to flow to line 21 without SE. Just use the drop down box.

The person from College Planning ABC is DEFINITELY not a tax professional. I do not know of any way it is deductible. Remind him to call you the next time BEFORE he gets ready to shell out more than $1,000.

That is EXACTLY the reason!! 20 years ago, my brain did not forget ANYTHING! Now, my short term memory is the best it's ever been. However, my short term memory is the SHORTEST it has ever been!!

For the most money in his pocket, sell it on the street.

I don't think it would stand upon audit.

I bought stock in Post-It company!!

That is the correct answer.

Something does not seem to fit.... Loans are not taxable unless NOT repaid. Loans do not generate 1099-R. 1099-R being issued indicates a distribution and not a loan. Sumpin jus ain rite...

If it was a loan, none is taxable.