Gail in Virginia

Or was an informal life estate created?

Prayers lifted.

Not sure how that will work in a community property state either.

Gee, Rita, you don't have anything else going on right now but this one tax return to do, right? In late March, early April I am sure we all work on one return until it is finished completely, then put it away and work on the next one. And we get them all done the same day we start them. Right?

I am not sure it is something that you did, Margaret, because I am seeing that topic the same way. It is the topic labeled "Unemployment Compensation Exclusion" and the right side of the screen shows the number of posters, who is following, who has the most popular post, etc.

I can't offer to help with extensions since I don't use ATX and would probably cause more problems than I would solve, but I will keep you and ESPECIALLY your husband in my prayers. I sincerely hope you have mild cases that you recover from both quickly and completely.

Did not notice the change in posters - I have had clients tell me stupid stuff and then I have to tell them something they don't want to hear.

I am not surprised, but why on earth did she ever admit to that if she was going to do it in the first place?

Pacun, you raise some interesting points. My income did not change during COVID, although it might have spread out a little because of the extended deadline. But I did have to spend more for cleaning, cleaning supplies and disposable masks for customer use - so my expenses were up slightly. I did not withdraw any money from my retirement, and am above the age of penalty anyway, but I wonder if that would qualify me for paying the tax over three years if I had?

Indiana- #35-6000158 INDIANA DEPARTMENT OF WORKFORCE DEVELOPMENT, 10 SENATE AVE, INDIANAPOLIS, IN 46204-2277 I copied this information from the link in the general chat that has been pinned at the top of the page and labeled All Pinned Topics - ATX Tips/Tricks, QBI, TCJAs, States' Info. Hope it helps. I think it is actuallyfor unemployment but it is the only one we have pinned.

If this is in an IRA account, and has a loss, do you even need to enter it?

I have suggested waiting to a couple of people since they qualified based on 2019 income but not 2020. However, does anyone know if the EIP3 is going to work like EIP1 and EIP2, and they will not have to pay it back if income exceeds limits next year?

If the W2 is incorrect, the employer should correct it. If the W2 is correct, then the employer withheld IL tax in error, but may not be able to correct that internally. In which case, you would have to paper file the tax return to get the withholding back from IL. At least that is what it seems to me.

I am so sorry to hear of Rita's loss. Tax season is stressful enough without the added stress of losing a loved one. Please convey my deepest sympathy to Rita.

My short answer would be yes, because I am assuming Dad is custodial and releasing exemption to Step-mom, and children lived with both dad and step-mom over half of the year. Not as short as I thought. If the child lived with bio-mom over half of the year, then mom can release the exemption to step-mom, but not the EITC, etc. Interesting. I would want to think more.

Since her income was earned before the marriage, and they were only married a few months last year, i went ahead and took my chances. However, I suggested they get someone from TX who is more familiar with common law rules for next year, or else file jointly.

Thanks, Lynn, I will check about the pre-nup. If I understood correctly, her income was from before they got married but his was through out the year. So if he reports all of his income this year, even though technically some of it would be hers under community property rules, will that be a problem? And then next year address this issue by either reporting correctly or filing jointly?

I think what Slippery Pencil was asking about was Sara's comment that her firm would prepare just the Schedule C for clients and charge for that work. You don't have to prepare the entire return to be required to sign as preparer, so I too am curious about preparing such a substantial portion of a return and having not control over signing the return. That would make me very uncomfortable, and I would not do it.

Young man whose taxes I have been doing for a long time got married this year. He has been living, and still lives, in TX with his wife. She has already filed MFS for 2020, with a very small amount of income. He has the larger income, although the loss on his horse ranch offsets a good bit of it. How can she file without knowing his income? Can I file without know hers? There is no state return to worry about, but is allocating the income optional even though it is a community property state? It is my understanding they are filing separate just to keep things separate, but is that even possible in a community property state? Am i over my head and need to refer him to a TX preparer? Can I have a zoom wine party with Possi tonight?

VA accepts stand alone e-files. I usually file them together but don't have to.

Virginia starts at FAGI, but if they choose not to conform, like they did with Special Depreciation allowance, then we should be making an addition or subtraction for the VA return to be correct. I have not worried a whole lot about the $300 charitable deduction (although maybe I should) but I do wonder about the tax treatment of PPP loans that are forgiven. And I am sure there are other issues that I haven't given much thought yet.

Is the person that is not your client local? If so, and you can find their number, you might call and see if you can get in touch with their preparer/representative and contact them to tell them you have this correspondence IF you want to go the extra mile. Otherwise, I think I would revoke the power of attorney and let them start over but at least get your name off the record so you are not receiving correspondence that you don't want and can't help with.

Why be sorry? Congratulations to your son!

As far as I know, Virginia conforms to 2019, but has not passed any legislation to conform to federal as of 2020. If they have, I have not seen anything about it and would like to.

Please keep up posted if you actually perform this experience. Inquiring minds, you know.