Gail in Virginia

I did not realize that if you were self-employed there was any requirement to take your spouse's employer coverage. I know that you cannot take subsidized coverage under ACA if you declined employer coverage, but I didn't think you were not allowed a SEHI deduction just because your spouse declined employer coverage. Do you have a cite for that?

And there will also be interest to report on a sale that lasts three and a half years, even if the contract does not call for interest. In that case, part of the proceeds have to be considered imputed interest from every payment except the down payment.

I carry E&O because we live in a litigious society.

Intuit is doing the same thing for QuickBooks desktop. We changed the last computer to Win10 this past summer.

With a mess like this, and what I assume was a "self-prepared" return, he might be better off to try to explain the situation himself to whoever is conducting the correspondence audit and plead ignorance. Could he get a letter from a clergy person that knows of the relationships and the circumstances to write saying that the children were his grandchildren by marriage to their grandmother and that they lived with him over half of the year? Or school records showing his address as the address for the children? And put that with a letter in his own, non-technical words, explaining the situation and then hope for the best. And while he is waiting for a response to that, start saving up to repay some or all of the credits. Who knows, he might get lucky depending on whose desk this lands on.

I dress from the shoes up a lot too - but more for comfort than looks. I love that necklace - and the shoes, although i don't wear heels anymore. Your wife has great taste!

I can't find anything that defines "grandfather" for purposes of this use. I really tend to agree with you that he is out of luck, since the stepdaughter will not cooperate with him. Perhaps next time he will realize that you were not trying to be difficult when you did not want to claim this credit for his return. Or not - there is always some family member that knows the tax law better than we do.

Is a step-grandfather not considered a relative in the state of Virginia?

I think you advice to her is excellent, but i have no idea what is considered an acceptable reason for not filing or what the chances are that she will escape penalties. I would love, however, to hear how this turns out.

I believe that Virginia considers birth certificates public records and they can be obtained by going to a DMV and paying a fee. I am not sure what information he will need, but if he claimed them on his taxes he obviously has birth dates and social security numbers. That being said, i tend to agree with ILLMAS that you should refer him back to the "expert" that filed his return and claimed all those people and credits.

I have two identical pairs of earrings. My husband like them so well that he gave them to me two Christmases in a row, forgetting that he had bought them the first Christmas.

Is it possible that he originally owed much more, and part of the tax, penalty and interest have already been paid? This is what remains. I agree with Max that you need to look at the Account Transcript to see what actually happened. I just never could resist a bad pun.

He shale overcome, but make sure he doesn't take you for granite.

I googled the message you pasted, and this is the answer that I got: You can see the definition of names by activating the Formulas tab of the ribbon and clicking Name Manager. You can delete it from there if you are sure you don't need it. In general, you should click Yes to the prompt that you got, but it depends on the exact way the name is used. Does this help?

Edsel, I have tried but from the information you provided I can't duplicate the problem to try to find a solution. What version of Excel are you using? And could you maybe paste the exact error message for us to see? I love a good puzzle....

I have four done, waiting for them to show up and pick them up, and two I am still working on. Plus one to do that I doubt I get finished before the deadline and I am not going to lose a lot of sleep over that one. She won't either.

If the k-1 shows losses, not only do they get free money but those losses will offset some of the other income they have. Not really a bad deal in this case.

I am not sure that I am understanding your question. Which tax return the beneficiaries report the K-1 on depends on whether or not the return is on a fiscal year. If the estate year end is in 2019, then the K-1 goes on the 2019 personal return for the beneficiaries. As far as whether or not the K-1 generates, I think that depends on whether or not any of the income was distributed. If everything stays in the estate until the estate closes out, and the estate is open multiple years, there won't be a K-1 until the final year (I think.) But if the beneficiaries get income distributions throughout the life of the estate, I think they will get K-1s every year. So if you are not showing income distributions, K-1s will not print. Does this help at all? I am not an expert on estates so someone else may have better answers.

Did he cut the timber himself or did he sell standing timber to someone else who cut it? If he cut it himself, I would most likely use a Schedule F, and the basis would be the cost on the Schedule F. Or if he is actually milling the timber before he sells it, I might use a Schedule C but I would still use the basis as the cost of goods sold. If he sells it as standing timber, then I would use a schedule D/8949 to report the sale and the basis. Using basis for the timber results in a reduction of basis on the land generally. It can be pretty complicated. And a lot depends on the facts and circumstances. The IRS farm publication also has some information on timber sales, I believe. Or at least it used to.

Looks like it was a beautiful wedding! Congratulations to the happy couple!

Perhaps they are not getting away with anything. Those fringes that don't qualify due to non-discrimination requirements are just not considered non-taxable fringes and either the company or the recipient is probably being taxed on them. The fact that the company cannot deduct the expense doesn't mean they cannot provide the benefit. They may feel that the benefit of retaining top people is more advantageous than the cost of non being able to deduct the expense. Since I don't prepare taxes for large corporations, I can't say for sure.

I am not expert in this, but I think only felonies prevent you from getting a EFIN, and not being current on all taxes. The IRS website should have the e-file handbook available and I would expect that information to be in there.

Yes it would increase his tax burden in the year of the seizure/absolution of liability. But he did give up the equipment in exchange for something of value. Interesting question, Edsel. I am not sure if it would be sale on a 4797, or cancellation of debt. And how would this affect the 179 deduction - does some or all of that need to be recaptured since the property is no longer business use? I hope somebody else weighs in on this - you have me wondering now.

Offering different prices to different customers is not at all unusual. Keeping the price differential going forward seems a little unfair - I would have thought they would gradually ease the new customers up to the same price as the old. I have noticed sometimes when I look at something on line but decide not to buy it, the price will drop in a few days to try to get me to pull the trigger. So i hardly ever buy something the first time i look at it online anymore. Sounds like you might need to leave ATX and come back to get the best deal.

And they will continue to be domiciliary residents of NC, I assume, and will therefore continue to file a NC tax return based on their US Tax return. The fact that they are no longer resident in the state of NC will most likely be irrelevant unless they establish residency in another state. Or that used to be the way the states rolled - someone may have better information than I do.