Gail in Virginia

Wow. That really does sound like things are going from bad to worse for you. I hope whether you stay in the business or not, that next year finally turns the corner and is a great year.

Happy birthday, KC! I hope you have many more!

Do you both fertilize the back yard the same way?

If they did not use the farm equipment for farming, how can you deduct depreciation on it?

I have not had this issue with IRS. I did, however, have a VA return that I e-filed and had an acceptance on show as not yet filed when the client started looking for their refund. Apparently, every now and then a return filed with Virginia gets hung up in their system and does not advance due to a "defect." At least that is the term the state employee used. Once I inquired, they were able to see the return hanging out there and knock it loose so that it would file (again, there terminology - more technical than me, lol.) I don't know if that ever happens with IRS. But what could it hurt to call the e-file desk with IRS?

I think being able to take a possum to the movies should be worth a higher fee. IMHO

I have an EA, as well as a bachelor's in accounting. I have a woman working for me who just passed the EA exam, and yet she can't seem to correlate the information that she put on the exam with the real world. One of these days I might take the CPA exam, but so far I have not had the time, energy or money to bother. I don't think the letters after your name are nearly as important as what you do with what is between your ears.

But I paid in the estimates (and failed to mention an additional $35,000 of self employment income). And we had taxes taken out of everything else (at less than 10% with a total income over $200,000.) I don't know why you owe either.

If you go on July 11, you should get a tiny little slurpee for free!

Probably just glad you did not send him to the backyard when he became a teenager,

I knew it would be back soon, but it still makes me lonesome when the site is down.

I think that one of the points Terry was making is that if the daughter was a full time student for at least some part of five months of the year, under age 24, and parents provided more than 50% of support, her income does not matter and she could be claimed as a dependent. They may choose not to claim her since she made that much money, or she may have provided over half of her own support in which case they cannot claim her, but the gross income test does not apply in this case.

Catherine beat me to the explanation and even included video. Great book, and the movie was actually just as good. IMHO.

And they can elect to deduct the first $5,000 in startup costs rather than capitalizing them if total start up costs are less than $50,000. If more than $50,000 then the amount that can be deducted is reduced.

I argued with my son's third grade teacher about teaching him to write cursive- the school seemed to feel that they would all be using computers and would not need to know how to write well. I become the meanest mother in school that summer when I made my son write the US Constitution, with all amendments, in cursive over the summer break. His handwriting is still atrocious, but he can write and read cursive.

If the original return was on extension, you have three years from the date the return was filed provided it was filed by October 15, 2013.

I first noticed with ATX 2012, and then with ProSeries since then, that updates can sometimes change the way a return calculates. And if I go back into a return and change something after I print the copies, it lets me change it, even accidentally. Way back in the dark ages I could mark a return complete in ATX and it took quite an effort to change something. I try, before e-filing, to look at the summary and make sure the refund still says what I expect it to. Then immediately e-file before something happens that could change what I have done.

You are welcome in my commonwealth anytime!

I don't mind the non-perforated W2s; sometimes I am guilty of that . When I prepare W2s they get the first one on perforated paper; if I am reprinting them again and again, they sometimes take what they get. And I think that you have earned the $75 getting the 1099s corrected. And then some.

It was not business property so no to 4797. I would report on 8949/Sch D. Basis equal to value at DOD of dad plus expenses not deducted elsewhere.

Elderly client made appointment weeks ago. Two daughters are handling his paperwork. We start the return when they all three get here, and I get the information about his rental property and medical deductions from one daughter. She asks what else I need. I tell her all the 1099s for interest and dividends, the social security statements, his charitable contributions, his wife's IRA withdrawal. Other daughter says, I have all of that, I can drop it off tomorrow. What are they thinking??????????

I know the instructions say to file together. I did that for a client who owed the penalty on a regular IRA. She paid the penalty with her return. I never convinced the IRS that it was filed and paid before she died and they gave up trying to collect the 50% penalty twice. Even though I resubmitted copies over and over. And talked to people on the phone. And wrote letters. That is why if I do it again I will do a separate submission. And not pay the penalty before requesting the waiver. Most frustrating experience I ever had with IRS.

I have not had this particular situation, but I think that I would file the penalty completely separate from the regular tax return and request the waiver with the filing, but not pay the tax until the waiver is denied. I hope that you will keep us advised on what you decide to do and how it turns out for your client.

I haven't used ATX since 2012, but if memory serves, to enter interest paid by an individual, if you click on the very first line of the schedule B and follow the link, you will go to a page where you can enter seller-financed interest income from individuals. Might have changed since I used it, though.