Lee B

Because omitting the depreciation for more than one is consider to be the adoption of an incorrect method which is handled by filing a 3115.

This plot is worthy of an "Outer Limits" script

I would file the 3115 , deduct the depreciation and handle this situation correctly.

I have a current rejected return due to the spouse's unentered IP Pin. My clients say that she never applied for a IP Pin. My clients are elderly and are not proficient with computers. Just curious, has anyone had a return rejected when there wasn't an IP Pin to be reissued?

If your client's daughter goes to the Americorp website, there should be an explanation for her W 2. Americorp has different programs with some strange tax rules that apply.

i have a client who is 83 years old who is a business owner and is still very sharp and with it.

I have a client who doesn't want to mess with making 4 different estimated payments, so I combine her estimates and she makes one payment on April 15th.

I am on Windows 10 also. I am going to wait and see how expensive Microsoft Extended Service Agreements will be.

I think I will wait for Windows 13

Most of us don't have your years of knowledge and experience.

Perhaps you need an IT professional to do some maintenance

Interesting question, I had never heard of it either. According to the Form 7203 instructions: "Loss and deductions in excess of basis are suspended and carried forward indefinitely and the character of the loss and deduction items is retained. Part III shows the pro rata allocation and tracks any loss or deduction carryforward." I could be wrong but I interpret this to mean that it's not a carryforward of a useable SEHI deduction but a carryforward of a deduction in excess of basis which disappeared when the corporation closed.

It's probably due to your print buffer overflowing with digital garbage generated by the ATX program.

It took me a while to find the notice too: "5. Error identified in Form 1065, Schedule K-1 programming The IRS notifies tax professionals of a programming error impacting e-filers of Form 1065, Schedule K-1, Line 20 for 2023. The error blocked e-filed partnership returns from using Code ZZ. The IRS encourages e-filers to extend the filing of their Form 1065 returns and defer until June 16, by which the error is expected to be corrected. "

Yes, I saw it. It was related to entries - code Z line 20 of the K -1 s.

This is at least one advantage of using a Tax Organizer.

Under imputed interest rules, the $ 2 Million would be the combined total of principle and interest payments for the contract using the AFR at the time the contract was initiated.

Years ago I met with some prospective clients who represented a merchant card services provider as independent contractors. They received a 30 % commission of their customers monthly merchant card fees. They were really good salespeople and were very profitable. They had paid a Million $ for a custom built bus style motor home and they really wanted to write it off as a business expense. They didn't like my answers and kept on shopping for the perfect tax preparer.

They are monthly fees paid to a Doctor or a medical practice for routine medical care in lieu of being billed for the same care. How is it any different than me billing my monthly write up clients every month or paying a retainer to an Attorney. IMHO I would consider them to deductible medical expenses.

Maybe some deep breathing exercises, imagining yourself at your favorite vacation spot would help

If this statement is attached as a pdf, you could save it and then clean it up if you have a pdf editor.

Thanks, Judy Something else I didn't know

Multiple Drake Community posters are reporting that the Drake program is crashing whenever they upload Form 8879 to the Drake Portal. One user reported that the problem went away after he reinstalled the program. It looks like we may be seeing the effects of Drake cutting expenses to keep CINVEN (the new owner) happy.

I use Drake, but yes it was easy. The hardest part was entering the very long VIN

I have been using Drake since the 2017 tax season and this year is the first time I have had the program freeze or crash.