PapaJoe

I think you have the right idea -- capitalize leasehold improvements, etc. in the new location. Everything else, employee wages, use of company vehicle, etc. is an expense. Don't forget to write off any leasehold improvements abandoned at the old location.

If he was a sole proprietor before the Florida incorporation, you might consider ignoring the corporation for 2007 and file as a Schedule C. Then, with your expert advice, have him start using the corporation in 2008, paying a salary and filing payroll tax returns.

Your post shows 9:53 on my CST reading of it.

Must be nice to have a dog that is paper trained.

"Will this info rollover to 2008?" Yes it will. I just wish we had state extension multiple like the fed.

And next time you send a return for the client to look over before you finalize it, be sure to stamp DRAFT all over it, expecially at the top of page one and over the client signature line so maybe they won't try to print it out and mail it in.

He's probably in Key West spending his lotto winnings on warm Corona and enjoying the sunsets. You'll probably bump into him in a few weeks.

is the 1099 in son's name only because he is the heir? If this is the case, I would nominee the allocable portion to mother's 1040 for the period she was alive and report the rest on the son's return.

That's what I am thinking about doing. I just wanted to see if there was a checkbox somewhere that I might have missed that would make things automatic. Thanks for your input.

Thanks, Zeke, but I know how to input regular disposition of residence. My problem is this is a casualty gain on residence and the casualty loss form doesn't want to play well with top line of Sch D input. Does anyone else have any ideas?

Client's house burned down. Basis $96,000 insurance proceeds $258,000 results in a casualty gain which can be treated as a sale of personal residence qualifying for Sec 121 exclusion. My problem is how to get ATX software to report it correctly. Completing 4684 results in the gain being reported on line 11 of Sch D. How do I show the 121 exclusion of this gain without somehow overiding Sch D? Can anybody help?

It means there is a rough patch of road ahead.

I created my own organizer in Excel many years ago. It's only 4 pages long and, printed front and back, only takes two sheets of paper. Those two sheets plue a cover letter go in an envelope and only requires one postage stamp. True, it doesn't have last year's amounts on it, but it provides the client a place to enter all their information. The cover letter asks for the original W-2's, 1099's, K-1's, etc.

Aw, JB. Black licorice tastes great. And clients really like it when you give them a big black smile after you've been eating it.

Would the IRS be upset if the mailing slip were printed on the back of the 1040-ES voucher? It saves having a separate mailing slip in the envelope with the voucher and check.

No need to boycott the new ATX board. Let's just stay here. I'm perfectly happy with this board. (Thanks Eric!) I won't boycott the ATX board, but I won't use it either. Let's see how long we can get it to go with no posts.

WANNA BET?!?!

It's not what you gather, but what you scatter that tells what kind of life you have lived! KC, I've heard the story of the marbles before, and it's a good story. But the line that impressed me most is the above quote. I hereby promise to try to scatter much more than I gather from now on. Joe

That phrase can be interpreted more than one way.

Thanks, Gene, but it's just as easy to go back to '06 ATX as it is to go to an Excel file. I've developed some Excel forms myself that are not available in ATX. PM me if you want to discuss swapping forms. By the way, thanks to your message I looked at my last message and it doesn't show that I'm from Alabama. Guess I'll have to go see what happened to my profile. I haven't changed it to delete the state.

Maybe they will SOME DAY! I could use the form RIGHT NOW. This is a local sales tax return which hasn't changed in years. I don't know why it wasn't just transferred from the 2006 forms folder to the 2007 forms folder when ATX made the annual change over. If I had time, I'd ask them.

Does anyone know if it is possible to copy a form from ATX 2006 to ATX 2007? There is a local sales tax form that I use a lot that, for some reason is not available in the 2007 program. I know the form has not been changed by the local government. Is there a way to copy the form from the 2006 program into the 2007 program so that I don't have to go back to '06 each month just for that one form?

The unbelievable part of your story is that she's coming in to PAY you . If you get the money (I'd ask for cash rather than a check) let her take the return and do what she wants to with it. Just be sure to put a note in your file that says she refused to sign and that you did not efile the return.

Just change it on the asset entry worksheet from 2106 to schedule c asset and continue as before.

Yes.