Gail in Virginia

I thought that Lion was trying to change the avatar that shows up beside each post and that still seems to be Alex playing the flute. The picture on her member page has changed.

That's wonderful, Lion. I hope they will be very happy, and that you and your future daughter-in-law will have a great relationship!

:bday:

If the diocese treats it as housing allowance it does not need to be included in the w-2 income, but that does not exempt it from SE tax as I understand clergy taxes. But there are some people on this board with more experience in that than I have, so hopefully one of them will also respond.

But remember, even if they go back to court and she signs an 8332 listing all the applicable years between now and when the child is 24, she can turn around and repudiate those future years later.

:bday:

:bday:

But you will have to determine the fair rental value of the church provided housing somehow. For that to be excluded from his income I think the church has to actually state an amount as housing allowance. This is then added to his income for SE tax. Surely the priest knows how much his housing allowance is, or can find out from someone at the church.

I don't think they can get they 250 from their tax returns. Were they working last year? If they did not receive the 250 from SS, they could be entitled to the full making work pay credit on their return but I don't think they get the 250 unless they already have it.

As far as I could tell from some quick research on yahoo finance, John Hancock demutualized and then later merged with MFC (Manulife). I don't personally know anything about it. Hope this helps.

Does her social security card show the hyphenated name? If she has been paper filing, there may have been a mismatch all along. In my experience this match does occur when e-filing, because often my mis-matches are women who go by their husband's last name but have never actually changed their social security record from their maiden name (or previous husband).

No matter how hectic it gets, you need to remember to take care of yourself along with everyone else. You mean a lot to us here on this board, KC, and I hope that you can take enough time to hug the grandkids, love your husband and tune out the fighting so you can de-stress yourself. And remember, de-stress can be arranged to spell desserts! So have a frikken banana pie and smile :P

:bday:

I assume this is a state return. IRS cleared means that IRS has passed it on to the state; when it is accepted it should show accepted.

A belated :bday:

A belated :bday:

And if the return is being filed using a power of attorney, I believe that you can electronically file but must complete form 8453 to send the power of attorney form to the IRS each year.

"Question: Patience Scrivener, a rising star among tax preparers, is known for getting her tasks done quickly and efficiently. She has prepared the returns for Acme Machine for the past five years. In 2007 Acme purchased four new machines for $100,000 each. To save record keeping time, Patience recommended that Acme group the four machines and depreciate them under the General Asset Account (GAA) rules for five year property. Unfortunately, business slowed down and Acme had to sell two of the machines for $10,000 each at the end of 2008 to raise cash. The machines which were sold had accumulated depreciation of $52,000 per machine, with a remaining basis of $48,000 per machine. How are the realized losses of $38,000 per machine reported in 2008? Answer: The realized losses are not reported. Acme must report ordinary income of $10,000 per machine on Form 4797 in 2008. The machine sales are reported showing a cost basis of zero. The group of assets is depreciated in future years as if the sale of the two machines had never occurred. According to IRS Publication 946, How to Depreciate Property: when you dispose of property included in a GAA, neither the unadjusted depreciable basis, nor the depreciation reserve account of the GAA, is affected. You continue to depreciate the account as if the disposition had not occurred. The property is treated as having an adjusted basis of zero, so you cannot realize a loss on the disposition. Any amount realized on the disposition is treated as ordinary income, up to the total of the unadjusted depreciable bases of all the property in the GAA." The question and answer above is from NATP's You Make the Call feature in their weekly newsletter. According to them, if you have grouped everything as one asset, you are stuck with that and cannot make a partial disposition.

:bday:

Hooray!! Thanks for the heads up! :lol:

We last used TaxWise in 2004 before switching to ATX. At that time, TaxWise was a forms based program, not input sheets. We switched because they were not responsive to complaints about how forms worked. We had tried Drake and did not like the input sheet based software. Did TaxWise change to input sheets?

:bday:

:bday:

The rate changed on October 1, 2009. For the first 9 months, it was $52 for transportation workers, and for the last three months it was $59. You can't use the $59 rate for the whole year until 2010. For 2009, you have to either use the lower rate or break it down between periods.

I am not sure what you are asking about. Was the rental condo in joint name? If it was not, if he owned it separately, did he have a will? If he did not have a will, did he have a previous marriage and did he have children from that previous marriage? I would be concerned to find out why the interest came with that designation. Whose SSN or EIN was on the 1098? I can't say that I have had a similar situation, but this is not enough information to have any opinion about anything.