Gail in Virginia

Tom, I should never shoot from the hip like this (I did not even look at the form to refresh my memory) but if memory serves, the form calls for the qualifying income, followed by subtractions for expenses related to the qualifying income. Now if you can make the case that the overhead that causes the loss is not an expense against the qualifying income, you might be all right BUT you do have to do a certain amount of segregating the profit to relate to the qualifying activities. Don't know if this helps at all, and I certainly don't recommend that you rely on it.

It was way too basic when I took it, especially since the instructor was actually from TaxWise and knew way more about that program than about ATX. THe instructor was nice, I think the book we got will be a really nice reference manual (much better than the one that came with the software), and I did learn a few things - but from the other class members. One of the most insulting things about the whole class situation was that they changed the location and did not notify anyone. We went to the originally published site in Charlotte, only to find they didn't know anything about us being there. Fortunately, they were nice enough to contact the site contractor and find out where we were really supposed to be. But I even called the day before to verify the time, and one of the students called to verify directions, and neither of us was told of the change in venue. I doubt I take any of their classes again.

Amen!!! :lol:

I think it is interesting that someone from ATX would request a copy of your e-file authorization letter, when this notice was posted the last time I pulled down Acks for my returns: October 18, 2007 ATTN: Authorized IRS e-file Providers/EROs The IRS will no longer issue credentials in the form of the annual letters for continued participation in IRS e-file. Instead, you may confirm your status as an Authorized IRS e-file Provider by viewing the summary page of your e-file application online via e-services at IRS.gov. Go to irs.gov, click on the e-file logo and scroll down to the Tax Professionals link for more information on steps in identifying your Provider status. FAQs are provided for explaining this change further. Refer to Publication 3112, IRS e-file Application and Participation, for important information such as the use of your EFIN and rules and requirements for participation in IRS e-file. Authorized IRS e-file Providers should continue to safeguard and protect the EFIN assigned to their firm. If you experience difficulties in printing the summary page of your e-file application, you may contact IRS e-help desk, toll free at, 1-866-255-0654,Monday through Friday, between the hours of 7:30 a.m. and 7:00 p.m.(ET). Thank you for your continued interest in IRS e-file. We are looking forward to working with you. ---------- This has been an IRS e-file QuickAlert Not sure how I am going to give them a copy of a letter that I am not going to get. Don't they read the notices that they post? :rolleyes:

The client id is a new number that does not have any relationship to the old customer number (just what I need - another number!) When I went to the screen there was a link to click called need help that stepped me through putting in my old email userid and password, then assigned me a new client id number and had me create a user name (not the whole email address) and new password. I did not have any problem with it other than that I think this is a pain to have yet another set of id numbers, names and passwords to remember! :wacko:

Bernard, You seem to be on the right track with reporting the timber sale. The basis for determining her gain (or loss) is the amount she paid for the timber originally. If she bought the land the timber is on in 1966 for $12000, was there timber on it then and could a portion of the cost be allocated to the purchase of the standing timber at that time? If so, then that is her basis in the timber and it would reduce her basis in the land. If there was no timber of any value at the time she purchased the land, then the entire $12000 purchase price would be considered basis in the land. If she did not purchase the land, but received it as a gift from your grandmother, then her basis in the land is usually grandmother's basis in the land. This is a simplification of the basis rules, but it looks like the "cost" you are using on the 4797 is what she received for the timber if I understand your post. What she received for the timber is proceeds. Good luck Gail

Thanks for letting us know how the situation turned out. In cases like this, it is nice to hear the resolution of situations we follow on the board.

Nice to hear that the seminar is worthwhile. We will be going to the one in Charlotte on Oct 25. I have only used the program for two years, and am looking forward to some shortcuts and efficiencies, as well as learning more about customizing the program. I know there are some aspects of the program that I don't use at all because it has seemed to be more trouble to figure out how to use them than it is to just work around them.

[ I am not so sure of that. In the first place, I don't think we are dealing with IRS employees - I think the payments all go to a lockbox operation. And in the second place, with it being a lockbox, I am not sure they even look at the checks. I think they peel the checks off and deposit them, and then turn around and forward the coupons to the IRS to credit the accounts. Them most that I think they will do is compare the check amount with the payment coupon amount. My gut reaction would be to go the stop payment route - but this is not something I have personal experience with.

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Ours is with Travelers, and the annual premium is around $700. However, we do bookkeeping and payroll in addition to taxes and have three to five people in the office.

We just upgraded to 2003, and I got the same messages. I have been meaning to call tech support, but you know how that is... I need to get a round tuit. Please post the gist of what you find out - I would like to know.

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We will miss you, but some things are WAY more important. I hope your husband has a complete recovery, and please remember to take care of yourself while you are taking care of him. My thoughts and prayers will be with you!

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I am wondering what year the restitution agreement was reached? Would that be the year in which an entry would be made on line 11 (or line 8 for an EZ) for the entire amount receivable and then in future years as the receivable is reduced, it would not be necessary to revisit this. I am also wondering, with a $4000 deficit, and only $400 received this year, if any part of the restitution is to be counted as interest on the money diverted. I am rather glad that this is not one that I have to do. B)

I don't know, but do you need to add an 8283 (Non-cash contributions) form to the return first? I would not think so, but it might work.

I agree that people are not being held responsible, and I know that my lack of debt will hurt when my son gets ready for college in a couple of years and we are trying to get financial aid. Nevertheless, I sleep soundly at night not worrying about someone coming to repossess my house or my car. If they want to repossess my son, we can work that out - anyone ever read "The Ransom of Red Chief" by O. Henry?