Lee B

Then in reality, the son is making a gift to the father. File the gift tax return and go ahead.

Ask and you shall receive . Here is the link for the IRS page listing all of their Interactive assistants : https://www.irs.gov/help/ita Judy, perhaps you could pin this link at the beginning ?

My browser on my desktop updated automatically. My browser on my android phone and my Chromebook did not. It probably depends on your device settings, so you do need to check and make sure.

Here is a link for the IRS Interactive Assistant for determining Filing Status : https://www.irs.gov/help/ita/what-is-my-filing-status I stumbled across these Assistants recently, they are really easy to use and get right to the point.

If you use the Chrome Browser, make sure you are updated to the most recent version. If you search, you will multiple stories about the hack which is currently active and simple instructions of how to check and update. The newest version is (72.0.3626.121 )

I think the timing is a problem. It gives the distinct impression that the prescription was written as a favor to a client.

This not a slam dunk decision. There are many many tech articles out there delineating multiple problems with Win 10 updates since last spring. You can choose to ignore those problems, but lets's not pretend that Win 10 is trouble free and the best invention since sliced bread! In fact, a recent Win 10 update had no new features, but was devoted to fixing 77 known problems created by previous Win 10 updates !

To paraphrase a famous person, "That's the thing about opinions, everyone has one.

Actually, its only the end of free support. It was only several months ago that the number of Win 10 units exceeded the number of Win 7 units on a worldwide basis. As a result, Microsoft recently announced three more years of additional support for Win 7 on a paid basis: Year 1 support - $ 50 Year 2 support - $ 100 Year 3 support - $200. This old horse is far from dead !

Just do a google search, you will find multiple legit sources for both the OS and computers with Win 7 Pro installed. Last time I looked Dell was still selling certified refurbished computers with Win 7 Pro installed.

In the middle of the bill is what I believe to be new tax extender : Sec. 122. Exclusion from gross income of discharge of qualified principal residence indebtedness (sec. 108(a)(1)(E)). The provision provides through 2019 a maximum exclusion from gross income of $2,000,000 for a discharge of qualified principal residence indebtedness. Generally, indebtedness must be the result of acquisition, construction, or substantial improvement of primary residence. The provision also modifies the exclusion to apply to qualified principal residence indebtedness that is discharged pursuant to a binding written agreement entered into before January 1, 2020. Very interesting, how many taxpayers really need a $2,000,000 exclusion ? I'll bet there is a special favor behind the inclusion of this item!!!!

If a refund is due, you can file a tax return without the will being probated and without a court appointed executor. My wife signed her mother's tax return who passed in early 2018 with this exact scenario. Suggest you review instructions for Form 1310.

Having upheld the IRS’s authority to require return preparers to obtain a PTIN and charge a fee, the court then discussed whether the fee the IRS charged was excessive. It noted at first that the IRS had lowered the fee from $50 to $33 (plus a separate processing fee). The appeals court remanded the case to the district court to determine whether the fee is reasonable and complies with the IOAA Interesting,so the fee question is still up in the air? What a long drawn out ??????

I think the second one is for the amounts found by the client while looking at the ceiling.

Woah, now we are in the twilight zone

Based on the CPE classes that I have attended, a 3115 can reach back as far the incorrect method has been in use. The classic situation is the correction of a incorrect depreciation method going back for as many years as required.

I doubt they are concerned about the extra work they cause. I am certain they are far more concerned about the pressure they are receiving from the lobbyists of the 50 Industry groups that are pushing hard for this bill to be passed!

This commentary from Politico spells out the murky future of this bill: EXTENDERS PROCESS GETS EXTENDED: Remember when tax writers believed they had to restore those dozens of temporary tax breaks within a year of their expiration? No more: The last extenders package passed in February 2018, more than a year after the incentives expired. And this year? There’s no telling when any of the tax breaks might get revived. The Senate Finance Committee — led by Chairman Chuck Grassley (R-Iowa), a reliable supporter of preferences for biodiesel — has been pushing to wrap up extenders more quickly. But people watching the issue say they detect no real sense of urgency out of the House, and that the extenders are likely to slip past April 15 unless something changes — meaning that the current filing season would end, and taxpayers and businesses would, presumably, be filing without a clear understanding of whether those tax breaks would once more get new life. Of course, the tax-writing committees know that a lot of businesses at least file extensions until Oct. 15, which could ease the pressure for the House and the Senate to make a deal. It’s also far from the first issue where House Ways and Means Chairman Richard Neal (D-Mass.) has been proceeding methodically (think the president's tax returns), as he tries to integrate 10 new Democrats into the panel. Still, Sen. Ron Wyden of Oregon, the top Democrat at the Finance Committee, told Pro Tax’s Aaron Lorenzo on Tuesday that he believes a bit of support is beginning to take hold in the House, where new Ways and Means lawmakers have been learning about extenders. “I’ve seen it building because everybody’s getting the same kind of concerns from home on uncertainty and what’s the timetable,” Wyden said. And stay tuned: Grassley and Wyden will soon lay another marker on tax extenders, likely on Thursday, according to a Finance source. The observation that the passage of this bill may not happen until after April 15th is an on point example of the times that we live in.

Here is a link to the actual text of the 43 page bill: https://www.finance.senate.gov/imo/media/doc/116.S.xxx - Tax Extender and Disaster Relief Act of 2019 - MCG19154.pdf Here is a link to the text of a 5 page summary of the bill: https://www.finance.senate.gov/imo/media/doc/Tax Extender and Disaster Relief Act of 2019 Summary.pdf

A bipartisan bill combining the usual tax extenders with a disaster relief bill which would be retroactive to Jan 1st, 2018 thru December 31st 2019 is on the move in the Senate cosponsored by senior members of both parties. The bill extends 26 provisions that expired at the end of 2017 and 3 provisions that expired at the end of 2018, including: 1. Tuition Fees deduction reducing AGI 2. 7.5 % Floor Medical Deduction 3. Itemized deduction of PMI as qualifying mortgage interest. 4. The usual Business Energy Tax Credits 5. A grab bag of Disaster Relief Tax Benefits. Unfortunately, there is no mention of any TCJA Technical Corrections.

However, if you don't file the 3115, you still would have to recapture the depreciation that should have been deducted.

I would report. After all the essence of the situation is that an active rental exists. It's only due to timing that there is no reportable income/expenses. Wouldn't you still have a small depreciation deduction?

Here is a link for the IRS Interactive Tax Assistant for this credit: https://www.irs.gov/help/ita/am-i-eligible-to-claim-the-child-and-dependent-care-credit

Copied from ZDNet via Forbes:

At least, it's not a triple net lease. Is the Sch F and the Sch E land contiguous under the same exact ownership? What is the relative revenue generated on Sch F and Sch E? Look for other involvement perhaps more long term, soil erosion control, noxious weed eradication, any structures etc. Look at restructuring the arrangement so that it's QBI in the future.