TaxmannEA

I've got 2 completed so far. Both are simple retuens from clients that are always in as soon as they get their W-2's. Several farm and business returns started, but waiting on more information (as usual).

It goes on 24b. And you allow 80% of the M&IE amount as the trucker is subject to DOT regulations.

Open 2210F and show thw date of payment as 2/29/12. This should remove the penalty.

I would think that they could be depreciated as long as they are business use only. I can see an auditor disallowing part of the deduction due to personal use issues. Depends on the facts in your case.

Sent several from 2 offices and 2 different software. Everything is OK so far.

Does anyone know if Republic Bank is still offering RALs for the 2011 returns?

This sounds like something that I dealt with several years ago. I had a client that had filed zero wage reports via the telephone. IDES then issued notices for about $360 per quarter plus penalty and interest as they claimed that he hadn't filed a report for those quarters. When I informed them that he had no wages paid , they wanted to see a copy or the form that had been filed for the affected quarters. Of course there were none as we had used the tele-file system. After 2+ years of correspondence and a call to my state representative, we finally got it straightened out.

You need to examine the notice and see what specifically they are charging for. Then take a tranquilizer and contact them. This agency is about the most frustrating group that I deal with. You can send them a copy of the filed wage report and they will reply that the one that you filed said something else. If it gets to the point where you need to have a conference, you will need to go to Chicago to talk to them. I hope that you have better luck. Just document and be persistant.

Looks like Mike has the definitive answer. Taxable, but no SE.

When I did this MANY years ago, I filed a Sch. F each year that I had the project. My children did the same. If the boy is in 4-H, then he should have a complete set of books regarding his livestock project. They are graded on this by the county and state organization. He probably made money on this, but the majority of these lose money due to the high cost of show calves, special feed and handling, travel, etc.

The question that I have is does the Sch F income only include the FMV of the calf sold, with the remaining money shown as a prize on line 21?

He needs to reply to MO stating that the income was received while a resident of Texas. You might even write up a PY Missouri return showing no MO income. I had one of these earlier this year. An Illinois contractor received a notice of liability for work he did in Illinois for a company based in MO. Since the address of the company accounting office was in MO, they thought that he owed them about $98,000. I did an NR Missouri return showing -0- MO income and it seemed to appease them. I think that they are trying to get money any way they can.

He doesn't need to be "officially" disabled. A doctor's letter certifying that he was permanently disabled will also suffice.

I still have people telling me that you don't have to file taxes after you reach 70&1/2 or 72. These things die hard!

I have always allowed a deduction for items that have the company's logo on them. That pretty much designates the clothing as a uniform.

1250

Don't forget the monthly storage charges for their return !

I'm having the same experience. Everything seems to be working OK here also.

I don't think that you need to report this as TP is not disposing of the property. He is simply re-building it. You will need to make a basis adjustment on the replacement property however.

It would depend how you aquired the wheat and the cow. Need more info.

It's normal. IRS doesn't seem to get too exited about acks for 1099s. It sometimes takes a week or more to receive them.

If there is no other activity on the Sch D, then the program should have taken $3000 loss to the 1040 and carried the rest over to the next year. May be a program error?

Military pay is excludable from Illinois income. It is listed on Sch M. Be sure to include the military W-2.

I would use 7 year, the same life as the grain bins.

I have the same situation. Probably some problem between Illinois and ATX. I do know that Illinois direct deposit refunds were arriving at the banks today.

That's the error that IRS is working on. The system thinks that the 64 yr old is over 65. I just received a notice that this error will not be fixed until Feb. 14.

Okay, back again. I feel like I am on another planet today so bear with me. I made sure the tax program was updated then I opened my return and clicked on the Sch SE just so I would know all about this new "bene". The SE is still a draft, the instructions are: Line 1-a Enter Net profit (or loss) from Sch F, line 36, and Faarm partnerships, Sch K-1 (Form 1065) Box 14, Code A

Line 1-b If you received SS retirement or disability benefits, enter amount of Conservation Reserve Program payments included on Sch F, Line 6-B or listed on Sch K-1 Box 20, code Y.

What on God's Green Earth does that have to do with deducting Medicare Part B payments or, really, anything else? MM

Farm owners on Social Security who get CRP payments do not have to pay SE tax on the payments. They do pay SE tax on their other Sch F income, if they have any.