Lee B

It's better to report the email as spam so any future emails to you will be blocked and reporting the email as spam will help Gmail or Outlook etc block the sending email address.

Clients H & W purchased a small house back in 2007 for $107,000, which they never lived in. Client made mortgage payments and paid property taxes while their son and his wife lived there. In July 24 they sold the house to their son and his wife and received a 1099 S for $200,000. $95,000 of the $200,000 was a gift from the H & W to their son and his wife, so their was no gain. What the best way to report this sale which shows the gross proceeds of $200,000 on the 1099 S?

After reading the article in Tax Notes, the casualty loss relief for scam theft losses is limited to those transactions seeking profit. Personal transactions don't qualify for this relief.

Here a link to the actual article BrewOne refers to: https://www.taxnotes.com/featured-news/tax-pros-welcome-clarity-scam-theft-loss/2025/03/14/7rnbr

Here is an updated list with closure dates with additional offices to be closed in 2026: Alabama 634 Broad St., Gadsden: Sept. 30 Arkansas 965 Holiday Drive, Forrest City: April 25 4083 Jefferson Ave., Texarkana: May 25 Colorado 825 N. Crest Drive, Grand Junction: June 21 Florida 4740 Dairy Road, Melbourne: May 16 Georgia 1338 Broadway, Columbus: Sept. 30 Kentucky 825 High St., Hazard: April 24 Louisiana 178 Civic Center Drive, Houma: April 25 Mississippi 4717 26th St., Meridian: June 1 604 Yalobusha St., Greenwood: June 1 2383 Sunset Drive, Grenada: May 1 Montana 3701 American Way, Missoula: June 21 North Carolina 730 Roanoke Ave., Roanoke Rapids: Aug. 1 2123 Lakeside Drive, Franklin: June 23 2805 Charles Blvd., Greenville: June 24 1865 W. City Drive, Elizabeth City: June 24 North Dakota 1414 20th Ave. SW, Minot: June 21 Nevada 701 Bridger Ave., Las Vegas: June 1 New York 75 S. Broadway, White Plains: May 31 332 Main St., Poughkeepsie: July 31 Ohio 30 N. Diamond St., Mansfield: May 17 Oklahoma 1610 SW Lee Blvd., Lawton: April 25 Texas 1122 N. University Drive, Nacogdoches: May 7 8208 NE Zac Lentz Parkway, May 25 West Virginia 1103 George Kostas Drive, Logan: April 30 Wyoming 79 Winston Drive, Rock Springs: June 20

I just did some extensive online searching and didn't find anything.

I haven't had one of these for some years. However after doing to some reading to refresh my memory, it's not obvious to me that a fraudulent transaction can be excluded. There certainly is no place on Form 982 to to exclude the this transaction. If you ignore the 1099 C you will likely trigger a CP 2000. The "identity theft" exclusion applies to to the issuance of the 1099 C. Perhaps I'm overlooking something

I believe the actual wording for the exclusion is for "identity theft"

Some preparers may want to offer their assistance for a fee of course.

Just like the scam offers to help with BOI reporting

Whenever there is a change of the primary taxpayer and their SSN, confusion is going to happen. Unfortunately, this is an extreme example

Judy, I think it's really funny

According to news articles I have read, 7,000 probationary employees have already been laid off. About 6,000 more have accepted the email buyout offer. Although it's not clear when they will leave. Tentatively at a minimum 7.000 more will be laid off after May 15th.

So a rental is a "leasehold interest"?

It will depend on how they reassign their personnel?

It there were leasehold improvements involved, I agree, but in the case of a rental is it a capital transaction?

When you enter both W 2s, what does your tax software do with the excess 401 k contribution?

Really, without the tax credits some preparers would be unemployed

My son-in-law gave me a Bulls**t button

I not sure how that would work in combination with the standard deduction? I would like to see it be an adjustment to Income on Schedule 1

Also,nonprescription medicines, toothpaste, toiletries and cosmetics.

I checked and there weren't any changes?

Catherine, assuming you still use Drake, you enter the gross amount in Box 1 and Box 2. Then click the link at the top of the entry screen that says "special tax treatments" and enter the amount of the QCD on that page. If you do this you may trigger a CP 2000

Since Congressman Cohen is in the minority party, this bill is DOA.

First we need to know if he primarily an employee or self employed reporting on Schedule C?