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About Christian

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    Advanced Member
  • Birthday 10/10/1942

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  1. Christian

    Deceased Client

    I am preparing the final return Form 1040 and a fiduciary return Form 1041 for a deceased client. I've got to indicate on Schedule B Form 1040 a division of dividends received prior to and those received after death. It's been ages since I have prepared one of these but if memory serves me I can indicate the payer and then in parenthesis indicate the total reported dividends subtracting out those reported on the Form 1041 indicating the estate EIN as the recipient of post death dividends. All dividends are reported under the client's social for 2017. I would assume this will work ok. Your input is appreciated. Also, dividends received on the date of death I am reporting as received after death. I hope I am not assuming too much.
  2. Christian

    Form 1041 K-1

    Thanks for the input. I prepare a very few of these and had forgot you count the month of death in the fiscal year. Thanks.
  3. Christian

    Form 1041 K-1

    I will be preparing a 1041 next week with the the estate year ending May 31st this year the decedent having died in May of last year. The available K-1 forms are only for 2017 and the income distribution to the heirs has only just been made. What can be done other than running a line through 2017 and inserting 2018 and will this work ?
  4. Christian

    Efile Mandate

    That's my take on it as well Catherine. A number of my older clients use mail filing and will likely want to continue filing that way. I don't see a scenario where Congress would deny a client that option although most of mine have changed to efile .
  5. Christian

    Efile Mandate

    I read that Congress is going to lower the efile mandate to 10 returns filed. I am wondering if the client will still be able to choose mail filing just as now. Anyone have a clue?
  6. Christian

    SSA Says Taxpayer Is Dead

    I thought I was unique having this problem. A lady came to me this year because in 2016 the Service notified her she was deceased ! Her husband died in 2015 and on filing in 2016 as single someone made a typo or something and showed her as deceased. She had to go to the local SSA office to prove she was yet alive and it took months to straighten it all out. The Service must have belatedly notified Virginia of her deceased condition so now she is having trouble getting her state refund for this year !
  7. Christian

    ATX Purchase

    I have for years purchased my ATX software in May. I usually pay no more attention to the matter until I noticed that Walter Kluwers seemed to be offering the same discount terms in December. I am wondering if I read the notice correctly or if this is what they usually do.
  8. Christian

    Form 1310

    It finally occurred to me that she can sign for him and therefore would not need the 1310. I like to cover all the bases and this occurred to me at 6:00 AM this morning.
  9. Christian

    Extension For Deceased Client

    I sent it off today. Thanks for your input.
  10. Christian

    Form 1310

    A daughter has been handling her parents affairs for many years and has a power of attorney for both of them. Her mother died in February of this year dying intestate. Since the daughter has a power of attorney for her father can she sign as surviving spouse for the couple's refund or will I need to attach a 1310 showing her as the administrator of her mother's estate ?
  11. Christian

    Extension For Deceased Client

    A client of mine passed on last year. His son is his executor and called requesting me to file an extension for his father as he lacked some needed documents. I efiled it and with some surprise received a rejection the Service advising that his Social Security number is blocked his account indicating he is deceased. Having never filed an extension for a deceased individual I guess this is all I can do. The estate will receive a refund so I doubt it will matter.
  12. Christian

    Value of a Gift

    As it happens the mother bought the property some 25 years ago and only the Lord knows what she paid as she is now deceased. So I will need to come up with some reasonable valuation and that will be the daughter's basis. There was no gift tax done. Folks in this neck of the woods do this all the time and when property is sold they have no clue what it was worth. I have not done one of these in a long time and ,of cuss, I have INADVERTENTLY misplaced my notes from the last time around. The $33,600 value was the county value for property tax in 2012 and not a professional appraisal as I was led to believe. So I will go with the value I can establish her mother paid for the land 25 years back. What do y'all think?
  13. Christian

    Value of a Gift

    A daughter was given a lot which had an appraised value of $33,600 in 2012 by her mother who had inherited it from her husband some years before. She sold the lot for $16,000 in 2017. I am thinking the daughter has no basis (her basis is zero) in the lot and she owes capital gains tax on the sale. However, she may be able to claim the lot's value when inherited by her mother and that is my question. Any input will be appreciated.
  14. Christian

    Farm Value

    I appreciate all of your responses. The parent's have wills willing all property to the other. I have pretty much talked him out of his idea explaining that if the purchased lands are deeded in both names his mother's half interest would be valued at 1/2 the purchase price at that time and he could incur significant taxes. I have not run this by my own attorney but I am confident this would be the case. In my own family we had one of these split valuation deals that proved to be a real mess.
  15. Christian

    Farm Value

    Fortunately for them they have long term care insurance and adequate assets to take care of that issue. There is really no need for the farm to be sold but heirs get itchy ideas. The son is for lack of a better word a "pantywaist" and now is not employed so you get the idea. Folks work their entire lives to achieve and build something. Next generation comes along and thar she goes.