ljwalters

Client took in a boarder to help make his house payment. It is a family, husband, wife, and baby. rent received is $1000 per month. Renters have total access of house except for master bedroom and bath. owner does not use the other bathroom. Client does live in the house also and the kitchen is shared. How do I do the Sch E. Do I take half of expenses and half of the allowable depriciation. Can he go into a loss. The rent does not cover half of the mortgage interest only paymen. Linda

This is crazy this year. We can no longer mail the brokerage statement via the 8453 as long as it is in the correct format? Linda

good Idea thanks. Linda

This is a major corporation (Intel) how can they make such a blatant error, or am I wrong Box one 98,798.93 Box 2 xxxx.xx Box three 101,534.28 Box five 101,534.28 12a C 136.02 12b D 3,008.14 12c 2,750 Shouldn’t box three and five be box one plus the 401K amt. or $101,807.07? What am I missing and will it cause a problem with Efile? If it is wrong do we need to get a corrected W-2? Linda PS Please tell me I am wrong that would be the easiest for me. It is just the beginning and I am already Brain Dead. I just finished about 60 hrs. of estate accounting, that was a rush deal. I really need something simple right now.

No and No. I have never put the date of death in the program except for the filer or spouse. The death will not prevent e-file4. Linda

I got the same error message, or reject code. I sent the file to ATX thru support. They couldn't figure it out either. Told me they would get back to me Monday or Tuesday. Same sort of return -single EIC and 8812. Linda

Yes, Go to the 1040 E-File infor tab and from there go to the forms efiled tab, it is listed now as being sent with the Efiled return Linda

My First DCN number looks real strang. Not the state so much as the Federal. It is an extra 7 digits long. Does any one else seem to have this happening? Linda

After the $3,700 She can no longer be a dependent. As for the children, the support test for dependents does not apply for purposes of the EIC. Linda

First we are told to save for our old age. Then we retire at 65 to 70 year of age. At 75 to 80 we are told to give it all to our kids. WHY!! So we can qualify for some of our taxes back in the way of intitlements (medicaid or medical or what ever). Linda

I was looking in the quick references and don't have time to do extensive research so please put in your 2 cents. I am looking into assisted living for my parent 93 and 85. Father need in home help already and I am wanting to get some of the stress off Mom. How much if any is deductible on the scheduel A as medical expense? Thanks in advance Linda

Thanks Linda

Im looking to try an online fax company. Does anyone have the name of one they would recommend? I know there was a post about it last year some time, but I just can't seem to find it. Thanks Linda

No, this will not work. Refunds are lost. UNLESS, the taxpayer was mentally incapacitated, then the statute does not go into affect until recovered. (Head injury major depression etc. must be documented) When I filed 11 years worth all at the same time, I put them all in separate envelopes and them all the envelopes into one large one with a letter listing returns filed, included a stamped self addressed envelope, and requested acknowledgement of date received. Letter came back stamped with date received and he got some of his refund. Linda

Spouse claimed the RMD in 2010. If spouse claimes RMD there is no IRD? Linda

Just got a call from client’s broker on speaker with client. I guess there was an A B trust set up that was should have gone into affect when one spouse died. And this did not happen. Everything goes to the surviving spouse and then the children. Broker wanted to know the consequences. I told him to ask a trust attorney. The only possible tax consequence was that they did not close out the IRA when wife died. (I told them to twice) The IRA goes to husband and is going to be changed this week. Wife died in 2009. RMD for 2010 was $173. on wife’s IRA. I do not see any consequences with such a small RMD. What do you think? Linda

The daughter is NOT a client.

It is not a true reimbursment, because the Grandmother set the $50 / week as an estimate of additional costs. (limited imcome) For extra utilities, food gas for auto. Daughter took the view that its was daycare expense and used it to claim the credit. Since the ss# was used to notify IRS of income to provider, it seems that SCH C is required. That is the question sch C or no sch C And then there is the question of "for profit" Linda

They are precious, Congratulations. Good luck on th sleep Linda

Grandmother cares for grandchild after school. Picks her up at school and keeps her for 3 hrs. The grandmother charged her daughter $50 per week for this to cover expenses. Then the daughter claims the child care credit. I have a problem putting this in a Sch C, since it is really not for profit. The auto expense alone brings the profit down to $975 profit. Then there of course is food and the outings she took her on. (Bowling swimming etc.), not to mention the house expenses. If she takes the income on the other income line we can not take any of the expenses because she does not use a Sch A. How would you handle this one, any suggestions Linda

What exactly do you mean by "revoked exemption"? Ihave never heard of this.

Well thats where I had it in the first place. I just didn't know if it was right. On the k-1 in put sheet. Thanks everyone. My confusion Linda

I have done that, one of the reasons it is on extension (only one). But I still cant figure out how to input the info. Linda

NECPA I can’t find the box to check or the place to put it please tell me what line # or what the line wording is. There are no “blue” (input) boxes on the sch E page 2 in ATX that I can find. Linda

How do you input unreimbursed expenses from a partnership? (This relates back to earlier post.) Does it need to be on the partnership return 1065? The only place I see to input on the 1040 is by adding it to the bottom of the K-1 in the 1040 return, but this does not seem right. Any help would be appreciated. Linda