michaelmars

THANK YOU DEB, GREAT ANSWER

i usually only file federal and ny as a piggy back sometimes i add a third state ie NJ and ATX asks if i want to hold the state - what does that mean and should i? what procedure should i do to file the multi-state returns [ i now have my first of the season] - thanks!

"he can treat it as a gift and not deduct" YOU ARE KIDDING RIGHT?

ATX is only program where you can't send line 21 to S E that i know of! you can override or put on C - just more useless paperwork! i know the irs want a C but they accept it from all other programs that send income on line 21 to form SE

incase they monitor this board, just gotta say, any "junk" non-client mail this time of year goes in the garbage, iknow they will send follow ups anyway.. Stupid to send this sort of stuff this week, just as stupid as merrill lynch to call to invite me to seminars, etc. - i am not even polite as i hang up on them. And salesmen, etc that who's first words are I/we understand the small accountant "oh yeah? then why are you calling me now?!?" There, i feel better now

who reviews them? email a draft copy to client and they email me back a 8879 is how i do it

i hope you mean you attach amended k-1's to 1040x and not to original returns! my returns can have upwards of 65 k-1's. they never get attached! only some states want part of the k1 attached where non-resident tax is withheld

my way i owe about $15,000 perhaps i need you to do my taxes this year, i donna wanna pay no mor eitter

JUST FILE they will send him a late payment penalty letter. DO NOT take the vender credit, you don't get it on late returns

I THink using either one might make this the last bonus he ever gets from this company

HAVE you tried to get on to MY ATX? i'd say they invented password protection

not disagreeing with anything you said but i have seen some posters here post over 3 days issues getting 1 return accepted where i would have just paper filed after 1 0r 2 attempts to efile it. i can't understand the rationale of spending such time chasing down eins, zipcodes, names, etc. if you have the info great if not, just paper file it or am i the crazy one

i just read that this issue is over 85 shares at $8.65/sh for a sale price under $800, is that right? @ 15% you are talking about $120 in tax. i can't see getting too involved over this, you probably spent more in prep fees trying to get an accurate cost basis already. even if you just take the div reinvested over the last 5-10 years you will knock the gain down to next to nothing.

or drinking an expensive enough brand of scotch

if you are going to do that, why bother efiling? not critizing just asking [i am not a fan of efiling and want to know your thought process] Whenever i get a problem return i just paper file it and move on. i never struggle to efile a return

why aren't you doing the obvious first? have the client call the fund or broker and see if they have the basis, that usually works. or at least they have the date and amount of original purchase.

Isn't that one of the items that your clients usualy find written on your ceiling? who needs an appraisal?

only pick ups i ever have are those that pay cash. anyone else gets a nice ups delivery package or can see my receptionist.

2 martini kind of lunch

i didn't know you like trumpet players

yep - getting everyone to mail in there stuff is the ultimate intime savings. it just hit me, how few clients i actually saw this season so i went and counted my appt book

200 personal returns and less than 10 personal appointments, yeah no down time

oy, ok i'll take a stab at it while i sip a cup of coffee. there are basically 2, either a stock step up or a real estate step up. stock step up incurrs when you inherit stock. the beneficiary gets a step up in basis to fmv at date of death thus if sold the next day the gain is zero. if a spouse dies and the stock was held joint, 1/2 of it gets the step up. the other 1/2 retains the original basis. ok that was the easy part now comes real estate real estate likewise gets stepped up but not just if inherited but if purchased, and not just directly but evenif you purchase a partnership interest when the partnership owns property. i buy out a partner for 100,000 his basis is 20,000 i get a step up of 80,000 which only i get to depreciate not the rest of the partners. [of course some of the 80m gets allocated to land and doesn't get depreciated] Now in the real world the partner i am buying would really have negative basis of -200,000 thus i get a step up of $300,000. Got all that? See 754 i know, just don't ask me about treasury stock

OK I'LL BITE i spoke to atx a few times on this till i got tired of hitting my head against the proverbial wall. THE state voucher letter has on the option screen as an entry for an alternate due date for the 4th estimate. but entering 12/31/08 for example doesn't flow to the letter. so you have an option entry not linked to the letter - can you get it fixed?

i have had an almost perfect atx season so i intend to re-up but i also intend to support Mel and purchase his program to. Then i can evaluate his on some simple returns as well as see the comments here as well as financially support the endevour we asked [begged] him to undertake. Then my options will be wide open for the year after next.