Lee B

If the signals from your mouse and keyboard are slowed down to a crawl, then everything that depends on those directions will also be very slow.

Some years ago, a new client, 3 brothers owned a rental, a restaurant building. The prior preparer, a CPA, had been filing as joint tenants. So I did the same. Several years later they received a letter from the IRS telling they had to file a 1065. It's a bit of a gray area. If it's investment property, then I am ok with the joint tenant approach. Once there is active participation, then in my mind it's definitely a partnership. How you approach it is your decision.

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First your receiver drivers may have needed updating or some files were missing. When you used a different port, the drivers probably updated.

The Sale Appraisal Value of $5,000 implies that the house is worthless and needs to be torn down. If that's the case, why not appraise it at $ 0?

Copied from the CCH Knowledge Base: "Distribution Code N If the distribution code entered is "N", the distribution carries to Form 1040, line 15 or 16 as a pension or IRA distribution, but see the following note. Note: If this is a recharacterization of a Roth IRA contribution back to a traditional IRA, this entry should be made on the IRA Information > Recharacterization of contributions field. Please read the instructions to that field to determine the proper treatment for this distribution. But if this is a recharacterization of Roth IRA distribution, this amount should be netted against any Roth IRA conversion entered in the Roth IRA Information section > Total distributions converted to Roth IRAs field. If this was a complete recharacterization from a Roth IRA to a traditional IRA, the Gross distribution field should be entered with a zero for the Taxable amount field. The Form 8606 is not required in this situation."

I had that happen 3 or 4 years ago and ended up mailing in the 7004. Of course with the current backlog . . . . . . ?

Rather than get in an arguing match, I would prepare the the estimated payments both ways and let your client choose.

https://www.irs.gov/retirement-plans/one-participant-401k-plans

She does have family close by, but she doesn't share any personal financial information with most of them. In addition, I don't know and have never talked to any of them.

The key question will be, "Does he do Consulting work for more than one company and receive a 1099 NECs for that work?"

The argument could be made that since he changed full time jobs the three year presumption shouldn't apply. The argument could also be made that even though he changed full time jobs, he is still an employee of his former employer. It really would depend on the specifics of his arrangement with his previous employer.

What was the status of the apartment from January 1st thru March 31st 2021?

More than likely your tax software will assist you: "Residential Energy Efficient Property Credit Limit Worksheet—Line 14 1. Enter the amount from Form 1040, 1040-SR, or 1040-NR, line 181._____ 2. Enter the total of the following credit(s) if you are taking the credit(s) on your 2020 income tax return: + Foreign Tax Credit, Schedule 3 (Form 1040), Part I, line 1 _____ + Credit for Child and Dependent Care Expenses, Schedule 3 (Form 1040), Part I, line 2 _____ + Credit for the Elderly or the Disabled, Schedule R (Form 1040), line 22 _____ + Nonrefundable Education Credits, Schedule 3 (Form 1040), Part I, line 3 _____ + Retirement Savings Contributions Credit, Schedule 3 (Form 1040), Part I, line 4 _____ + Nonbusiness Energy Property Credit, Form 5695, Part II, line 30 _____ + Alternative Motor Vehicle Credit, Personal use part, Form 8910, Part III, line 15 _____ + Qualified Plug-in Electric Drive Motor Vehicle Credit (Including Qualified Two-Wheeled Plug-in Electric Vehicles), Personal use part, Form 8936, Part III, line 23 _____ + Child Tax Credit and Credit for Other Dependents: If filing Form 2555: Pub. 972, Child Tax Credit and Credit for Other Dependents Worksheet, line 16. If not filing Form 2555: Pub. 972, Line 14 Worksheet, line 14 _____ + Mortgage Interest Credit, Form 8396, line 9 _____ + Adoption Credit, Form 8839, line 16 _____ + Carryforward of the District of Columbia First-Time Homebuyer Credit, Form 8859, line 3 _____ Note. Enter the total of the preceding credit(s), only if allowed and taken on your 2020 income tax return. Not all credits are available for all years nor for all filers. See the instructions for your 2020 income tax return.2. 3. Subtract line 2 from line 1. Also enter this amount on Form 5695, line 14. If zero or less, enter ‐0‐ on Form 5695, lines 14 and 1"

Yes that's exactly what I have done with one client the last several years.

For me to move forward I would require the son's signature on my authorization letter.

Sigh, that was back when the program was a extremely large complied spreadsheet, before CCH's 2012 debacle of rewriting the program using a shareware database program

https://www.irs.gov/pub/irs-pdf/f1065x.pdf

Lifetime credit limit of $500 https://www.irs.gov/newsroom/energy-incentives-for-individuals-residential-property-updated-questions-and-answers

We are discussing an S Corp not a Schedule C

What you don't believe the Quickbooks ads telling you that you don't need to know accounting or bookkeeping

You don't say what kind of SIMPLE Plan, what kind of business entity, whether there are other employees? Standard answer is employee contributions must have have been deducted from wages/paychecks as of 12/31/21 And as Margaret says,both the employee and employer contributions need to be paid no later than January 31 2022.

First step is to compare Schedule L to last years trial balance or balance sheet to to see where things are out of balance. Is there a bank account reconciliation for 12/31 available? Does the Depreciation Schedule tie out to Schedule L and the balance sheet? Every amount on Schedule L should tie out to something i.e. Accounts Receivable Detail Report, Accounts Payable o/s Detail Report and etc.

In addition the employer should refund the FICA Taxes that were withheld in error.