michaelmars

i wouldn't sweat it at all, just get cash and fixed assets correct, is there receivables or payables? allocate some of the equity to capital stock. i use [in absence of any other proof] $1000 per shareholder. as long as its profitable and basis for deducting losses isn't an issue now i would worry about more percise analysis after 4/15

I HATED it last year asked and got the option to turn it on and off. but now i love it, use it every time. Also, for the clients copy i have always made the last page a blue piece of paper so when the client called confused i could say turn over the packet you are looking at, if its blue put it down, its yours and go to the next packet.

TRY deleting and rolling over again

I'm now on shaky ground and gonna look at this issue after 4/15 [unless i get an applicable returns before them]

its not any different than taking a step on a house even when there is no 706 or when the 706 is non taxable is it? or on marketable securities? no rule says that the estate has to be taxable for the beneficiary to get a step up, nor is there a rule that a 706 have to be filed. i just file one to start the statute of limititations for the irs to question the valuations

However, she might receive a partial income tax deduction to offset some of the taxable interest income if David's estate paid estate tax on the value of the savings bonds. See Sec. 691©. PERHAPS i shouldn't have used the term step up

i go on line - log into citibank and watch my wife spend my payroll - does that count?

what we do is show the accrued interest due as part of the 706 valuation [separate line item] and thus the cost basis is increased on in the hands of hte beneficiary. i know this is done for muni's, cd's and t-bills. but hh and e's have some funky interest accrual rules and my estate guy is out today and tomorrow.

same partners? no change, just add llc to the name and change type of entity

you sound defensive to me and i certainly hope i didn't offend you or imply You made a mistake. i am just saying that i believe the correct handling of this is that the son should only pay the interest accrued during the time he held the bonds, you could be a hero and amend the prior returns if you agree with me. just to be sure i am getting a hair cut later and will double check with my barber.

BUT THE step up in basis includes the accrued interest even if no 7060 is needed thus i wuld not take that interest on the sons return. i have never had that questioned on a return here but granted i also usually prepare the 706 even if non-taxable just for this type of situation.

lets see, part of the bond interest should have been accrued on the 706 so that part could be excluded on his personal return. he shuld only pay tax on the interest accrued since dod so 1/2 right 1/2 wrong

it-360 change of residency forms too as wellas any other applicable attachments, ie child care credit, long term care credit etc.. be careful as to where they worked and when to get the correct income in the correct states and don't for get moving credit on federal.

MANY Brokers will send you the sch d info in an excel format you can import

29????? IGOT guys with over 1500 trades

YOU ARE probably on double secret probation!

my theory is enter it as per atx input screen, code it as a ptp and let the program do its thing, if you [or i] can't figure it out, then those working for the irs can't either. and usually the amounts are very small anyway.

just letting you know you have been missed, and sorry for your problems too Denne

haven't seen her in days

i was attempting a joke

it was efiled to the irs!

gotta pay with a 8109 coupon or electronically , there are no coupons

USUALLY its publicaly traded partnerships

would a biofuel vehicle fall into the same classification as a horse or cow? i think you need to utilize fossil fuels to take the auto mileage rates.

DOESN'T GO ON 1040