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    ATXaholics Anonymous

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  1. That looks to be what I am trying to do. The last time I had this issue I had to get info on how the scholashps were applied. The scholarships requiring the payment of tuition and related expenses must be considered tax free I am assuming. Other scholarships not so construed I assume could be shown as taxable income to the student and payments made by the parents for books and a computer would apppear to qualify for the AOC. In this instance the scholarships are far in excess of the tuition expense and would easily cover the books and computer they bought for their daughter. In point of fact the scholarship income exceeds not only the computer but not a few peripheral items as well which leads me to feel they have no AOC due.
  2. Where exactly in ATX help can I find instructions on filling in this form. A client has some $5,000 of tuition expense and some $8,000 of scholarships and grants. If I can assign some $3,000 of the difference to the student I can get the parents some credit for the computer and books they bought their daughter out of pocket. I addressed this similiar problem earlier this season but feel I need a better grasp of how this is done. I am going to contact the parents to asertain just how the scholarships and grants had to be applied and go from there. I rarely encounter education credits as most of my folks are retired and such so feel a bit unfamiliar with this and need to up my game.
  3. Has the Service allowed modification of the requirement that a client sign the Form 8879 in light of this pandemic or must we still require them to sign thus risking exposure ?
  4. Before I return to my day job. The operative question here is. Why did the much ballyhhooed IRS efile computer system not immediately reject my first return filed in 2014 for God's sake for using an incorrect PTIN number? I have filed for almost six years using an incorrect number and good Lord !!! they are just now catching it ? Them budget cuts must have done them in.
  5. I thought so as well. I not only accessed my PTIN account but called them on their toll free number. The number provided is indeed correct. So much for all that "we do not call you stuff". I suppose they felt it was urgent. Go figure. Just what an ageing tax guy needs at the end of a trying season !! I went to the medicine cabinet and took two blood pressure pills. Just kidding youall.
  6. I just accessed my PTIN account. I printed out the official letter I got on renewal. I'll be darned if the call was not legit. I have been using an incorrect PTIN evidently since 2014. I have the original confirmation letter here in file which I will access when time is available but I swear it confirmed my old number. Of course, the SERVICE never makes an error do they ?
  7. Just received a call reportedly from the IRS saying my PTIN is incorrect. does anyone have a contact number in the Service to check . Say I have been using an incorrect PTIN since 2014.
  8. I finally located the answer.The wife continues to use the tax free basis until exhausted. Alas a moot point as this spouse cannot provide the needed info as to retirement date of her former husband. Good grief !
  9. A new client has come in bringing a pension 1099-R from the Office of Personnel Management showing a pension which she gets based on her deceased husband's record. As with so many of these the taxable amount is not indicated. I have forgotten if a widow is allowed recovery of her deceased spouse's remaing basis in his pension or if it is simply lost. Can anyone address this ?
  10. I filled it in and divided the income as indicated but I saw no calculator and assumed the service would do anything further.
  11. That will be my solution as he as no itemizable deductions and their combined standard deduction of $27,000 is greater than any itemized deductions. I would expect the Service will simply deduct his $252 in tax withheld and send them the remaining refund balance.
  12. I have two clients both over 65 yoa who have married. He owes an outstanding and ongoing tax liability for which he is paying $100 a month. His refund is taken every year until this is paid off. In reviewing the MFS filing status I find she has $20,000 of useable itemized deductions and he gets the standard deduction. The ATX software indicates if I assign her $20,000 to her I must reduce his deduction to $7,000 on his return. The IRS instructions advise each can use their own deductions which would indicate she uses itemized and he gets the $13,500 standard for his return. Which is it ?
  13. In point of fact I finally determined that the former practitioner in reading this used this method even though there was no other parent to claim the daughter. Another incidence in which the IRS instructions can lead a person astray unless combed over again and again.
  14. Is there a toggle in the forum that allows you to see your individual prior posts?
  15. The daughter's concern is that being shown on her dad's return as his dependent would cause problems with her drug benefits through Medicare. Unless I am completely mistaken he HAS to have a dependent to use the HOH status. Under his previous filings he did not indicate she was his dependent and I suppose the Service never cross checked it so no problem arose. I am simply going to delete her from his filings going foreward.
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