michaelmars

I HAVE a client 89 years old who for the last 3 years has had to file under her maiden name since she never officially changed it 65 years ago. she gets soc sec medicare etc all under her married name.

AGREE, he qualifies as a dependent or he doesn't, period. I agree with the sentiments but we are doing taxes not family councelling. although, i would have charged the "kid" double what i charged the parents.

DISCUSS first with auditor if it hasn't become adversarial. might eliminate the need for an appeal

never, never, never, never

don't give him the return since he couldn't have reviewed it

THE HOUSE IS CONSIDERED INVESTMENT PROPERTY since an inherited house is a capital asset so the loss is deductible unless the beneficary used it as a personal residence. "Sale of decedent's residence. If the estate is the legal owner of a decedent's residence and the personal representative sells it in the course of administration, the tax treatment of gain or loss depends on how the estate holds or uses the former residence. For example, if, as the personal representative, you intend to realize the value of the house through sale, the residence is a capital asset held for investment and gain or loss is capital gain or loss (which may be deductible). This is the case even though it was the decedent's personal residence and even if you did not rent it out. If, however, the house is not held for business or investment use (for example, if you intend to permit a beneficiary to live in the residence rent-free and then distribute it to the beneficiary to live in), and you later decide to sell the residence without first converting it to business or investment use, any gain is capital gain, but a loss is not deductible." pub 529

That really helps, thanks KC, i have the full ria checkpoint here and really need a lesson in using it to find stuff. thanks again-michael

Taxpayer has negative basis. Would a charitable contribution of the interest trigger recapture income? ie basis (300,000) FMV= $500,000

i have been doing it by year having a folder for each year with sub folders by client but after reading this i think, as the above suggested i will switch to client folders with the sub folder being the year. Good post everyone

Smoke & Mirrors It is a slow day in the small North Dakota town of Pumphandle , and the streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit. A tourist visiting the area drives through town, stops at the hotel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night. As soon as he walks upstairs, the hotel owner grabs the bill and runs next door to pay his debt to the butcher. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op.. The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit. The hooker rushes to the hotel and pays off her room bill with the hotel owner. The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything. At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves. No one produced anything. No one earned anything. However, the whole town is now out of debt and looks to the future with a lot more optimism. And that, ladies and gentlemen, is how a Stimulus package works.

look at your state rules. in NY you are required to keep 7 years from filing date

this is our board and not the "official atx board" this is not company owned and was started in part due to the censorship of the other board. we have every right to discuss what we want here as long as eric agrees. discussing prices and helping us negotiate could only help us get the best pricing available.

OUCH THAT HURT!

hey KC welcome back!!!!!!

THANKS. After a reboot it worked, guess the program was doing something in the backround when I tried the first 3 times.

Anyone able to do this? the instructions say you can but i can't get it to work. do i have to reenter all the firm id and efile stuff again?

its for anyone that prepares NY returns {i think more than 10}. you need to register and pay $100. there are some exemptions ie cpa's. NY's website has the detail

since all returns are now efiled the need for perferated paper disappears.

since this is a "free" service by eric, he has the only say on what is posted. i personally don't enjoy the bday posts but i also have absolutely no problem just skipping them. N/T is extremely helpfull in the titles too. if the birthday posts and other personal posts bring more more readers here then they serve a usefull purpose, who knows when that person has just the answer you are looking for. I say keep this what it became, a tax forum for people who also share their personal lives and have fun "chatting" here. Happy Holidays Everyone.

ITS ALL FOR THE POINTS!!! thats what my clients tell me, but i agree with you and never recommend it

I JUST read the kb.... its an enhancement for 2010 program

Isn't there an option to print this landscape? i swear i once saw an option somewhere but can't find it now.

GOING with the kindle and the droid 2, thanks for the comments

Sort of related to this subject.... any opinions on Kindle vs. Nook? also i need a new phone and am considering Droid 2 [because i like a hard keypord]-any opinions?

when efile first started i was told at a seminar that we need to keep written logs of when the authorizations were sent/received/return transmitted/accepted. i have done this for the past couple of years but now i am looking and can't find this in the efile literature. Does anyone know if logs need to be kept for efiled returns. i would think the info in the efile manager should be sufficient.