Burke

Yes. I hadn't planned on filing until that happens, but the procedure works as far as the bottom line within the software.

Page down the list from Drop down box. Various is under Vanuatu. Select.

I have one return on the desk not yet filed which has less than $10,200 in unemployment benefits for 2020. I have input the amount via Form 1099G which flows thru to Line 7 of Schedule 1. On Line 8 of Schedule 1, I can back it out on the worksheet with an explanation so that it is a net zero on the total at the bottom. Think this will work?

Yes. DUH! Totally missed Line 25d. Long day.....

Had no idea that existed. How do you access typewriter function?

Can you show it on Line 3a? i.e, (NYS Tax Relief $ - 124) just as an information item?

I have a new client for which I want to do a Comparison Form even though 2019 information is not in my prior year's software. All okay until I get to Line 25 a,b,c for the prior year; ALL LOCKED FIELDS. Can't put last year's info in. It's nice that it is broken down by w-2, 1099, etc, but that doesn't help if I can't input info. Anyone else had this issue? Hate to put it somewhere else and draw an arrow to that line!!

And that is what I have always thought too about VA. If I am not mistaken, someone at VEC told me that once......

So if you are a single more-than-2% owner with a W-2, and decide just to stop operating, you can apply for UI in this state? But I suppose in that case, you would have to look for another job......

What I would question (and there is not enough information here to determine), is the $53K Housing Allowance designation. If he is trying to deduct OIH, then he apparently owns the home? Are you saying his mortgage interest, real estate taxes, utilities and other eligible housing expenses -- actual out-of-pocket -- equal or exceed FRV of $53K? As the rule for exclusion is the lesser of the three -- FRV, HSA, or ACTUAL. Did you do a worksheet? I always do and put a copy in the return file. And Medlin is correct; there is no IRS rule about showing the HSA on the W-2. Then you have to get it from the church or paycheck stub. But there is no rule that says they can't issue a W-2 either.

I am a poster on the Tax Book Forum but all of a sudden it doesn't work properly on IE anymore, so I have to use Chrome. I hate it, probably because I can't find things like where to Print, access Favorites, etc. Where can I learn more about operating Chrome?

Really? Is that true? I assume you are a corporation..... Do you have to have a reason for closing?

It happened to me last year on the state. However, there was an issue with an unapplied estimate made in Jan for the previous year. So in the process of correcting that, which they did, and the return ultimately processing later, they refunded the original overpayment which was indicated to be applied to the following year. I don't know if the transaction mentioned was the cause of the refund.

I purge my old paper files every year, but I never felt comfortable "sending them off to the shredder." I always have them come to the office and shred on site in the truck with the TV while I watch them transfer into confetti. Found a good one who charges $10 per (10-ream-size) box of papers. And its a lot in one box. No minimum.

If this change was an override, it sometimes will not flow through correctly. Usually if you change a figure in a blue field, it will carry through.

JUST FYI: ATX fixed the problem with the alert , and the 760C is now calculating with no error issues or PDF requirement.

Interesting. I am inclined to throw my lot in with the group who is arguing constructive receipt. What is not included in the details here is ....was the annuity the only asset to go into the Trust? Was this something that was in an RLT, for instance, when the mother was living? IMO, the Trust might have existed at death, but was not FUNDED until the monies went into the bank account, so that is the date the trust started for tax purposes. Prior to that it had no income unless there is information we don't have here, and no tax would have been due. However, as someone said above, if no distributions have been made YET, then the proceeds are reportable by the trust and taxes are due to be paid by it. Electing Sect 663 would have only extended the date for distribution until 65 days after 2019. DANVRAN asks what is the difference between reporting it in 2016 or 2019. A heck of a lot of interest and penalties, that's what. What is the reasoning for the funds not being disbursed at this point? Are all these legal expenses incurred going to be paid and deducted by the trust? Doesn't sound like there is going to be much left. Also, it would be an interesting scenario if a Section 645 election could be made -- would have to have more details and a legal opinion -- but that would enable them to elect a fiscal year....... There were no other details given about estate assets. I would love to know the outcome of this situation. Keep us informed.

YES.

This is also happening to me. It's ridiculous.

That is EXACTLY my conundrum here.

It appears VA filing deadline will stay at 6/1/20 (per Gov Northram's press conference today) so I need to know this: Client wants to make IRA contribution and deduct for 2019. He is waiting until July to determine his income this year as to how much he can afford. He wants to do $7K if he can and deduct full amount. Since VA is not extending to that date, I am assuming he has to make the deposit by June 1 to claim it on the state return. He can do $5K now, so I am thinking do it, and if he can come up with another $2K in July to put on the federal, that will mean the AGI will not conform to the VA return! I think I can unlink VA from the federal to file it, so would this mean he would have problems down the road?

Although IRS website launched today, wait times are long......too many people trying to access.

I thought that only applied to the time period from May 1 to June 1. Are you saying ALL underpayment penalties are waived for the whole year? I am considering eliminating the form altogether, but I want to do a bank debit by 5/15/20 for the amount due which is fairly substantial not counting penalty which is minimal. So it would be nice to get a correct figure! I think I will just do the pdf. Sounds to me like a program error where the info should NOT appear on Page 2. ATX???

File an extension by 4/15. Is income being distributed by the trust?