Gail in Virginia

Cathy, I don't have any Louisiana clients as a ruler, and these posts don't really affect any of my clients but I just have to say that I am very impressed with the effort that you are putting into protecting your clients' interests. You are really going the extra mile on this issue IMO, and I think that you represent the very best of what a tax professional should be!

Good for you!

Still lurking around, behind as usual. Trying to get caught up since I have to take Thursday and Friday off for a medical procedure my husband is having. I am hoping that not hearing from KC means she is busy getting Don settled in at home!

:lol: These are great, KC! You do so much to keep out spirits up, hope you and Don are staying upbeat too in spite of the setbacks!

Praise the Lord! I know you will both be relieved and a lot more comfortable.

Thank you all! Everyone has moments when they need a little help, and sometimes just typing a question makes me realize that I knew the answer and don't need to post the question, I just had to clear my mind for a minute and focus! Of course sometimes I still don't focus and wind up asking something I should know the answer to, but everyone is helpful and usually understanding!

Our local chapter of enrolled agents has been meeting monthly (except during tax season) for a lunch meeting with one hour of CPE. We chose our own topics and one of our members or someone in the community with special expertise would provide the instruction. We were authorized under the Virginia Society of Enrolled Agents to provide CPE as long as we submitted the speaker's notes and the sign in sheet to the state chapter. It is my understanding that we will no longer be able to be that flexible in our presentations. We either use pre-approved lectures or must submit our materials in advance for prior approval to qualify for CPE with the IRS. Just wondering if anyone else was familiar with how the new standards were going to work in this respect.

This is a tough roller coaster for you to be on, KC. I hope the ride smooths out soon. Love and prayers!

Thanks, KC. And I will continue to pray for your husband. I am sorry to hear that he had another seizure, but I hope that was the last and from now on his improvement will continue in only one direction!

My mind is just fried. I can't find anything specific in the form 5329 instructions or the Master Tax Guide that says you can't use the same tuition for both the American Opportunity Credit and the exception to the penalty for withdrawals from an IRA before age 59 1/2. It seems like double dipping to me, but I would like to be sure before I rule it out. Any thoughts?

It is my understanding that they are not released until he disposes of the property. After all, he could change use again and go back to renting the property. In fact, he could change to personal use just long enough to take the losses and then change back to rental over and over again if that were sufficient to release the losses.

I don't use that feature, so I am just throwing this out there, but is there any chance that it is not counting assets that are depreciated out? In other words, letting you keep track of assets the client still owns but only charging them for assets that depreciation is actually calculated on this year?

I stand corrected! Or maybe ROFL corrected!

Very strange. I rolled over one just before lunch, and it told me that form was not available for rollover. I went to the website and updated; still no 941. Went to website to see when it would be released - no mention of 941 for 2012. Read this post, went back into the return and like magic, it was there! I think this has bden such a long season that I am losing my mind!

Or he could take the tuition and fees deduction, and it would effectively zero out the income reported, subject to the question of qualification for the deduction. But if he pays taxes on the money, it is his money as far as the tuition payment it seems to me.

We have a few that we make payment with return - very small employers who have less than $2500 per quarter. I just read the instructions on the IRS web site and they can still mail in their checks. Nothing different from last year that I could see.

I remember one year my mother-in-law asking me if my husband would like a pair of Levi 501 jeans for his birthday in May. I asked him later that week if he would like a pair of 501-c-9 jeans, and got very frustrated that he did not know what I was talking about - until he finally repeated what I said and I realized that there are no 501-c-9 jeans! :spaz:

How are you going to file the zero return marked final for the partnership without an FEIN? Still mark it "applied for?"

Amen, KC! I hope Don is still improving!

Just remember, to qualify as dependents since they are over 24 and not full time students at least five months of the year, they must pass the gross income test whether they have to file or not.

I think that I did it under preferences, All Managers, check the box that says, " Hide returns marked Complete in Return Manager, E-file Manager, and Bank Manager."

So I guess I need to start now for the next really big pot?

Hallelujah! Will continue to pray for his continued improvement, and for strength for you!

Could it be the settings in your security software? Has anything changed on your computer since the last time you accessed the site?

Prayers for both of you, KC and all your family. Also for the doctors and other medical professionals caring for Don. May God be with you.