WITAXLADY

ps - I noticed there isn't anyone in Walmart this year...

I thought I would lose some due to not itemizing - but that short form! yikes - 6 supporting schedules - yes, they can do their own if they have lots more time... and know what to search for... It is a real learning curve this year! d

looks like a draw.. - not deductible expense

well I was going to say b and c - depends on time and $$ I did one and it was not that bad but I only have 2 clients above the $315,000

saying I have transmitted an E-file using a transmission relationship that is not valid in the EFC client database? any ideas - ATX not ready to e-file?

ELI financial

you are so smart! see - I knew you all would come thru =- just what I needed - go back and look! nasty gram from him this am!!! and then when I said I am not dealing from you today - my mom is having surgery and you cannot even tell me the 2 prices of the semis the deceased bought - how do you expect me to finish this! He wrote back and said what do you need? - not like i haven't asked 10x and signed a smiley face!!!

I know - when the income is distributed - it really knocks down the 1041 tax - so lets distribute all the income $88,000 - 88,000 =0 right!! but the 1041 then shows (2,000 income and still part is taxable - and there was only 88,000 of income... cannot figure out why more!!

ok - I am thinking I need help from someone familiar with the 1041 - I would pay for that help - and pdf the info please - if I give all the income so to speak - so there is not any tax - and the benes are taxed - I get it now... doing distributions brings up the taxable income! and then I need more money - not available anymore as I gave it away so as not to pay the tax ie - $86,000 left in bank - distribute $86,000 - Sch B recalculates to $92,000 for taxable income of $6,000 and $1,200 of tax... What am I missing? Thank you, D

Does the client not have any paperwork from what he put in? Is it on a worksheet (as ti would not show up on the 1040) what his contribution would be each of the years? Is this the same broker? and he doesn't have any records? I would push this broker or a previous one to come up with contributions... if not the client himself - check made out? auto transfer? for that money - can he have the bank, look for the transaction around 4/15 each year? Brest of luck

so I am thinking some more - hey - I am still doing 2017's and 13', - 17's here!! glad it is Nov but.. So the estate pays this $36,000 in tax and then the beneficiaries still get K-1's? If the estate pays all the tax - why would I need to do k-1"s wouldn't the cash just get split up and call it done? Thx D

similar to OSHA - I have a gravel/mining small business who is concerned about becoming a S Corp as he receives a yearly call and they ask if he has employees and when he says no, they do not continue with their report or "audit". I looked at the MSHA site and found an email! and when I asked if S corp officers as employees were exempt from this or any requirements, - get this - they referred me to .... irs.gov!! I replied back asking them where/what their employee requirements were and that I knew the irs definition - but have only met with silence... hmmm

jeepers - I do that with my own posts! And just pray someone answers them cuz they are pretty dumb when I have to break down and ask.. and I do not answer much as most of you are so much more eloquent in your response!! D

You are all so good and still lurking!!1 after tax season! congrats for selling - I will someday - hubby says anytime but I said I like to spend money too much yet... So my issue is trucker client died in semi accident last year and estate received lots of $$ for semi/trailer. He is not going to replace them! Had written off most of the value every year as kept buying trailers, etc so there is very little basis to go against the 5 assets sold and the insurance money - therefore the estate owes!! about 2/3 of what they have collected selling and from insurance.. So 1=- when I do the 4684 - Casualty Form - it is showing all as taxable income due to insurance payments.. I do have to report the insurance as taxable - correct? ** Most important - and 2 - it "almost" looks like it is also doubling the amount due to Sec 179 recapture - it cannot tax him for more than he initially paid??? or received? Thank you all! Darlene ps - we won another award! on our baa baa cheese!

thank you so much! - I will look into it!

thank you - I have read through the above articles... I need help Please... I do not know what to do with all the transactions.. It is a mixed consideration - part cash and part stock - so I have the basis per each share of CH2M and I know how to report the ones she received cash for.. I get that But what do I do with the ones reported as exchanged for each stock so it does not create a taxable event - Thank you or email me separately? [email protected]

question - does CA have a rent credit? thx D

are you talking his own W-2? does it balance out with box 7 as tips then.. the rest should still balance... Or in a new restaurant I have- she is not claiming the additional tips or credit cards tips coming thru the till - says they are hers... and not going anywhere - different scenario! As I said they need to show as her income - other...

that sounds correct - he should get most if not all of what he paid in through May back...

ok - so client gives me $$ of cash she received and notes - 40/60 cash received vs invested - the short term amounts match - yay the long term do not - can I assume the CH2M stocks are what were cashed and the Jacobs were what were then exchanged? The cash reported is more than the 40% amount she should have received The Jacobs reported is still more than 60% of the cash received ie - rec $60,000 cash, CH2M stocks reported are $50,000 40/60 - Jacobs would be $96,000, exchange/shows $105,000 sold? but not received.. Thank you

so she did get the 40/60 with shares and cash... I would just do nothing with shares? or show as same $$4 amount? and cash is cashed in as normal - correct - just have to figure out how many for what basis, correct?

good help - thank you! I had googled that is why I knew they merged.. I am asking if they actually received cash.. might have as they paid large April payment due to large stock windfall... D

CH2M and Jacobs merged Taxpayer shows Exchange of 504 SH of CH2M common stock for $$$ also shows Exchange of 1,034 SH of CH2M Hill PDSPP stock for $$$$ all on Dec 15, 2017 - no basis for either and then exchange of 14 SH of CH2M Hill PDSPP stock D Please what do I show on the 8949? Nothing until sold? Thank you so much!

good for you!! Hardest part I think is finding someone to fill your role and then letting go! Best of luck.. D

thank you! D