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Max W

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    marintax@sbcglobal.net

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  • State
    CA
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    Male
  • Interests
    Boston Red Sox, Spanish Civil War History. Flamenco Music & Guitar

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  1. This should help. It seems like there are just a few simple steps to take. https://www.guideline.com/blog/what-you-need-to-know-about-calsavers-june-30-deadline/
  2. Those must be the ones that have refunds.
  3. You can get a free demo and try running a few returns on it. That will probably tell you if it is what you need.
  4. Lucky you. It's a pain for MFS, but for stepped up basis it can be a real advantage, if it is recorded correctly.
  5. To complicate it even more, this is in California, a comm. prop. state, where most things are supposed to be 50/50. Then they were running two different business under the S-corp. He was an Indian guru, astrologer an his master guru is in India and paid an enormous price for his consultations. She started a cosmetology business last year and made about 1/4 of what he made in his half of the year.
  6. Clinets were a married couple and he died in middle of last year. How should ownership percentage be allocated?
  7. A million thanks to you, Judy, for managing this site so well and giving so generously of your time and effort. It certainly beats hands down any other tax discussion site on the web and it's all due to you. I hope your husband has recovered well and that you get the rest and relaxation you so deserve.
  8. Who said anything about filing an incomplete return. The asker had tried get a transcript, but if the request was by mail it is going to take a long time. Right now, under the current IRS backlog and long on-hold phone times, filing a complete return will either go through as normal, or be rejected and then the appropriate action can be taken. The tax return has to be filed anyway and with client in the dark, taking action will demomstrate to the client that the preparer is doing something for them rather than sitting on their "idiotic butt."
  9. You may have a long wait. The fastest way to find out is to file the return electronically. If the spouses SSN has already been used on another return, the IRS will reject the return and it will have to be mailed in.
  10. Taxpayer had a home while married. Divorced and paid ex $200000 for the title and refi in her name. Now she sold ot it. Basis is the actual carryover cost of acquisition (not half)? Plus the cash paid to her ex? Or is this a marital settlement with no change in basis?
  11. I thought of that, but they had filed jointly for 30 years. She said 2021 was filed under her name. Was it S or MFS? And, ususally 2 years of tax returns are needed. It's beginning to look like a scam.
  12. Something doesn't smelll right here. Why would someone file a fraudulent return showing a balance due? I could understand it if it were for a large refund.
  13. This is going to result in a CP2000 letter. The current EIN will show up in the IRS transcripts and the wrong one that was used will not, so there won't be a match. It should be easy to explain this to the IRS. What might be more difficult is explaining it to the client.
  14. So, if they get the credit then that is deducted from the depreciable basis?
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