norcalea

I have them as well.  But just a heads up - tried to use a 1995 last week because CA is asking for a 1995 return and they wouldn't load because my computers are now Windows 10.   You can email me at [email protected]

Client started company with friends in college in Belgium...company was never dissolved and he has not received any income, but company is still active.  Any idea on how this should be reported?

Thanks!

First, I want to say thank you to this board.  I really appreciate all of the help. This is definitely the most helpful site I know.  I definitely can allocate on the 203B but my question is Ny entitled to this income because the job originated in NY?  My choice is allocate to CA for the days he is a CA resident or include both places and take a credit in CA to account for double taxation?  If I simply allocate to CA will NY fight us on that?

The small employer did stop withholding for NY once the TP moved to CA.   Unfortunately they did withhold for CA though.

I'm in CA and have a influx of NY returns to do this year. Clients have income on w-2 from NY employers but they have moved to California and are now working in CA for said employers.  I would normally allocate the income to CA from the time they become CA residents but have had one TP say his employer told him that NY wants the whole years income . ( The w-2s are allocating all income to NY) I found the NY PY instructions a little confusing regarding what is NY source income and what isn't for non residents.  I understand they want severance pay related to NY employment but this is not the case. Clients now live in California, perform all work in California but employer is NY. Can someone with more experience with NY tell me if they have claim?

 Ill take the preparer whose work is thorough and error free, even if they produce half the quantity of returns as the other. 

The toner cost on reprints is killer..Thanks for sharing..I was thinking around $25. Sometimes they have already been out the door for a week or more when they find another item 1099 etc.uggh

Joan - How much do you charge? I have been thinking about doing so.

I have a standard line..I underbid your return, based on the work involved it should be $xxx, given this your fee will be increased by x amount a year until it is within acceptable range.

Thank you for taking the time to give an opinion. It really helps.

Thank you in advance to anyone who can weigh in on this one.

Client had ISO's that were exercised right before the acquisition/merger in 2009 of this company. He received a large payment for his shares which were accounted for on the 2009 return, less his cost basis. Considered Disqualifying Disposition. Nothing on the 2009 AMT page.

Now in 2013 he received an additional "PMA Milestone achievement " payment for the same shares. Payment has its own 1099B. Are there any circumstances where this wouldn't be ordinary income but long term gain?

Lisa

Linda Kay I think your numbers are unusually high for the number of returns you have filed. I have filed about the same with no problems as of yet. Can you reach out to other preparers in town and find out if they are having the same problem?

Thank you Catherine for posting your opinion. It really hit home with me as well. I also feel I can't trust ATX for this coming season and with the increase of my client base another software disaster would probably finish me off. I am not a Drake person so I will write my check to Proseries.

I am definitley very confused about what to do about software. I have a small but growing practice used ATX the last 2 years. Need to run on a network, just purchased a small practice that uses Drake ( used Drake several years ago wasnt particularly in love with it), am trialing Proseries but still prefer ATX. Need it to not crash, and for support to exist. There are lots of things I like about Proseries but am struggling to understand a few issues (rental properties with different depreciation than in ATX) A conversion to Proseries would now involve two different vendors to Proseries. Dont do enough returns to merit LaCerte or Ultratax. Ugggh

Ok you guys have convinced me! Im gonna try it.

Thank you so much for confirming this! I love this board.

Hi,

I do a couple of messy lump sum SSI disabiity payments every year and thankfully SSI lump sum

election is actually well done in ATX relative to other programs. For this year's client the money was already paid and taxed through private disability insurance. In addition to calculating the lump sum election issue I need to account for the fact that this money was all repaid to the insurer and has already been taxed. The instructions (from the insurer) say I have a choice to take that money repaid but already taxed in previous years and deduct it on schedule A, which really wont help my client much or to calculate repayment via I.R.C. section 1341 and reclaim the tax paid on line 71, and that I should do what yields the best outcome for my client.

When I read the repayment rules in the IRS publication it says that this can only be done for years with at least 3000 of income in question. One of my years is just under that. Do you think I can place the year in questions dollar amount on schedule A and then take the Section 1341 for the other years that qualify?

Thanks for any feedback.

There has been alot written about the tax bill that comes along with having student loan debt forgiven due to permanent disability. Mostly that the tax nightmare catches most by surprise. Unfortunately insolvency is the only current option for excusing the income.

I have one of these in house right now as well...bummer..

I can concur that my problems on the return in questions with fixed assets crashing the program were fixed with the update. wheeew...scary

Oh well havent had a crash with 12.9 in a week - need to enter a ton of Fixed assets for a new client and now it starts to crash..guess Ill have to suck it up and risk 12.10

Whats the verdict - install or wait if your not having problems?

This is from early January..its old news

Joan - I think your original instincts are right, although if I read it right it is not due until 4-15. Here is a link to the 100es instructions ..see page 1 part D. https://www.ftb.ca.gov/forms/2012/12_100esins.pdf

Hope this is helpful.

I called ATX and they are suppossed to due a reset on this return within 72 hours. Mine is a super vanilla return nothing fancy. I will wait until Tuesday and then if not resolved paper file. The IRS does not have it..ATX shows it as transmitted.

Rejected...(((((

Lost in the Bermuda triangle evidently. IRS says to resubmit but ATX wont let me as it is in transmitted status so i duplicated the return and recreated the efile and submitted - will let you kow. Otherwise I will have to paper file.