Burke

15 hours ago, BrewOne said:

What does the 8867 look like?  Do you have all the documents listed on Line 5?

Yes.  Have reviewed every form involved on the return.

Daughter's return was held up due to EIC, & ACTC just like it is every year, but this year letter was received indicating refund was reduced due to "You, your spouse, or one or more of the dependents listed on your return didn't have an assigned taxpayer identification number by the due date of the tax return."  As far as I can tell it is only EIC which was disallowed.  CTC and ACTC is still there based on amount of reduction in refund (which was received last week,) as well as Saver's Credit (form 8880) and Child Care Credit (form 2441.) (Instructions say to "call #800 or write prior to 8/16/24......to review your account with a representative," and "....you must contact us by phone or in writing by August 16, 2024. We'll then reverse the change we made to your return.  You don't need to provide any explanation or additional documents when you request the reversal, [emphasis is mine] but we'll consider any information you provide us.

All (correct) SSN's are on all forms in the return for 1040, EIC, Form 8812 and Form 2441.    It would have rejected when I efiled if that were not the case.  Efile was accepted. Is this just a ploy to avoid EIC?

Never mind.  I figured it out and its fixed.  Sorry for the trouble. 

All bank info is input and electronic draft is requested for amount due on Payment & Refund Info screen under 1040 EF Information.  Bank account info does not appear on federal or state return form 1040.  State return does not have Payment and Refund page under SC EF Info.  If I check ACH debit box on SC Page 3, it says Enter date, amt, and bank acct info on Line 37.  It does not auto populate, and I cannot override.  How will it process?

Federal return has bank account draft info on return (input on worksheet).  SC return marked "ACH debit" on page 3, but bank acct info not showing up and cannot override.   Why is it not appearing on form?  SC shown in jurisdiction information on bank information worksheet.  

Can you e-file an individual return with tax due, using electronic withdrawal designated on the return, on the last day-- April 18 -- and it still be considered as paid on time?  

PS:  The real estate tax debit/credit transfers from/to buyers and sellers will be shown on Page 1 of the settlement statement.  There are almost always transfers shown unless the settlement date is exactly the same date the tax is due.  

You are correct in that, since the charitable organization was a named beneficiary of the retirement fund, it is not part of the estate, and it is not considered on the 1041 in any way.  It's the same as if an IRA named a person as a beneficiary -- not part of the estate.   On the sale of the home calculation, it got a stepped up basis at owner's death, so if it was sold shortly thereafter, there should be no gain.  There actually may be a loss due to expenses of sale, such as real estate commissions paid, legal fees, administrative fees, taxes, etc.  (Do not include any items related to a mortgage.)  Review the HUD-1/settlement statement carefully regarding real estate taxes debits/credits.  See page 2 of HUD-1 for details, seller's column.  

How do you get rid of the blue tick marks in the input fields that bring up the CCH Research pop-ups?  Very annoying!

Provider does have a website, and registration forms/receipts, etc.  No FEIN on anything.  Tried state records, and found State ID number, (this business is incorporated) but FEIN not listed.  As a last resort, will mail W-10 and will send copy of the Tax Code reg (if I can find it.)  Thinking about highlighting the part of W-10 instructions about providing EIN and penalties.....

Per Pub 503 a summer day camp is eligible for the CCTC "even if it may offer special activities such as computers or soccer."  TP put child in such a camp, but provider refuses to give EIN as "CPA told her since it is not an all-day camp, they did not have to provide number, as it doesn't qualify for the credit."  Really???   (It's half-day.)  Never heard that before and I can't find anything that supports that.  Opinions? 

Got it.  Didn't realize you were referring to that. 

20 hours ago, FDNY said:

This would be a nice addition on the ATX Enhancements forum, maybe someone will read it.

Hello?? Where is this forum? 

He may not have kept copies, but he had the information to input into his software.  He should be able to give you names of payors, EIN's, and addresses from his electronic records.  In ATX, you could print copies of the input screens. 

All IRS knows is $80K proceeds.   File the return to establish basis, or else kid will get a CP2000 and bill.    

See Possi's earlier post.  Looks like ATX has adjusted FDC input worksheet on VA760/ADG as well.....

On 3/24/2021 at 1:57 PM, Abby Normal said:

VA doesn't tax unemployment at all, and I think it's been this for a long time.

That's correct, but it was showing it as a subtraction just like it always did when you input UEC via the 1099G, even if it was excluded on the 1040.  So you have to go in (per VA instructions) and show a positive figure for FDC additions, then when it subtracts it out, all is okay.  No software adjustment to the return is necessary.  This works because VA has NOT advanced FDC beyond 12/31/20.  

That's just what I was going to say.  They are updating the forms to calculate correctly with the changes, such as the UEC worksheet and flow-through statements on Sche 1.  I haven't really checked yet, but Fixed Date Conformity for my state appears to have been advanced to 12/31/20.  

Have either of them sign and indicate "Personal Representative" on the Form VA8879.  You should be able to e-file.  VA will definitely cash the check.   Send only the Payment Voucher with check.  No signature required on that.  

(Sorry, I cannot figure out how to edit my posts.)  Are you asking if an estate tax return has to be filed to report these items? 

Yes, great post.  Now I know how to handle VA return without overriding.  

Yes...sorry. 

Yes, his estate got stepped up basis.  

Would they be doing any actual work? 

All of a sudden today, my worksheet is not auto-populating.... anyone else having this problem?