Lee B

I sympathize, because I also found filling out the form and worksheet on Drake awkward. I ended up just trying different possibilities until it worked.

Does the spouse have a durable POA or a 2848 on file?

I have never had a client have a Board of Directors Meeting to formally dissolve their corporation. Therefore I have never filed a Form 966. All I have ever done is file a final 1120 or 1120 S plus dealt with any fixed assets which ended up with the stockholders. Over 28 years I don't know how many I have handled this way, but it's in the double digits. I have never received a letter from either the IRS or the ODR with any questions etc.

Why would you cringe

In a situation like yours they are not that complicated, just take it one step at a time.

In this case $ 1 will not be enough

Taking QBI was be difficult to justify with this fact pattern.

Your client can delegate his participation to representative(s) or agent(s). Your don't say what his ownership interest is or who is responsible for managing or delegating responsibilities? NEI

Yes, or you need to show $ 252 of Income in addition to the UC in order for it to efile.

Not too many years ago I had a client who had a Espresso Drive Thru Stand Business a C Corporation with 8 locations. She ended up selling off the locations piecemeal, 4 different transactions, since she wasn't able to sell the whole business in one sale. Three of the transactions involved personal non compete agreements reported as Other Income on her 1040. The IRS via letter contested the Other Income as reported, fortunately my client had just enough documentation to counter the IRS. My point is that reporting this amount of money as Other Income not subject to SE Tax will quite likely prompt a letter. How do you respond to the letter with nothing to document your position?

Wait a minute,how did you even know whether they were married or not? I don't ask my clients for a copy of their marriage certificate, do you?

Alternative scenario: Long time residents of neighboring state which does recognize common law marriages has filed MFJ for 20 years moves to NC. What do you do?

In this case, the children receive monthly funds from the state, which my clients put in a trust for each child, which will be used to care for the these kids in future years, so these funds are not used for the children's support.

I took an IRS online free class about this area last August, so I double checked my thinking with the Tax Book: 1. The equipment comes out with the PTS adjusted basis, which is assumed by the partner. FMV of the equipment is not involved. 2. The PTS NBV of the equipment reduces the partners capital account. Easy peasy

This means that"enhanced electronic screening" has identified an issue that requires the intervention of an employee.

Margaret, You should go buy a lottery ticket

Try excluding the news link from your firewall

Rita, I am truly impressed with your composure. However I am sure your were smiling as they walked out the door

It's interesting looking at several online third party instructions. Apparently the SALT limitation impacts the allocation which would significantly reduce the amount deductible for state and local taxes especially if you are in high property tax state. Remember the days when we could deduct Investment Interest.

Meals would be at 50% or the per diem rates. Lodging at reasonable not extravagant cost.

New clients who adopted two special needs children, ages 11 & 13, one with fetal alcohol syndrome and one who is blind. First clients I have ever had with dependents with disabilities. Do I need to aware of any other issues besides extra medical expenses ?

Yes it's deductible, Oregon has a law requiring everyone on a construction site to be covered by Workers Compensation Insurance, so every time one of my clients has a comp audit the auditor is looking for subcontractors and proof that the subcontractors have comp insurance, otherwise the General Contractor is assessed for premium to cover any sub that can't prove they have insurance.

If it's new job known to last 4 months when he was hired, I think he dead in the water.

What we have here is "a lof ifs and not enough facts"