ljwalters

They called me a couple of months ago.  My husband answered and went into a panic.  I told him not to worry we owed nothing.

The called again last week while a client was in the office.  I put them on speaker phone and let them rant.  Then explained to what happened to be an elderly client that it was a scam and to never return the calls.  It Could be dangerous and if she was truly concerned to always have her daughter handle it.

PS her daughter is up on most of the scams

The simple answer is yes if the contribution was made before April 15 1014 or 2013 tax year.

Does every one who owns a business or rental have to file this form.

I have 2 small business

one has small amount of inventory.  using value at end of year (not lifo or fifo)

This is a ceramic business and slip and small amount of paint is all that is in inventory.

The second is excavating business ( he digs holes for new swimming pools)

No inventory but high maintenance on dump truck this year.  have not gotten specific on what the  repairs were yet.  I am assuming as long as it isn't a new engine there will be no depreciation needed.

Everything else has depreciated out already.

My mom surprised me with a new gs4 tablet for my birthday last night.  When I opened to oversized box low and behold they had given her a whole case of them instead of just one I got 5.

and yes I plan to take the other 4 back.  But what a shock.

Oh My.  Time to get out the pipe cutters

Thanks KC, got it.

with hobby total income is on line 21 and expenses are on Sch A subject to 2%

The relevant dates ate moved In to Ca. 12/21/14

Changed drivers license and DMV in Dec. before he stated new job in January.

His address on the return will be Ca.

2014 Instructions for Schedule CA (540NR.

Line 7 – Wages, Salaries, Tips, etc.

Generally, no adjustments are made on this line. If you did not receive any of the following types of income, make no entry on this line in either column B or column C.

I don't see where to remove the wages earned in other state.  

Thanks Jklcpa. 

Yes she received a 1099 G but that does not make it taxable.

Client moved into CA December 17 2014.  Started new job in CA Jan 27 2015.  Calif. part year to tax all income from fl. with no credit because Fl. no tax.

is this right

There are no assets and a friend of the family paid for the funeral. 

Thanks for all the input.  I will pass on what was discussed.

^{The NOL was in 2013 the worksheet lets you take it off for AMT purposes.}

^{but I don't see where to take it off due to the NOL}

^{If I didn't do the A last year the charity and mortgage interest credit would have been lost instead of carried forward.}

Client had 200K nol last year and a nice state refund because of it. 

AGI ( -102,898 )

ATX is taxing her state refund.  Same refund with or without Sch A.  So I don't think it should be taxable.

How do I get it off the return.

FYI did Sch A to hold charity over to this year.  That did work.

^{Found it.}

Last year to print to PDF file you chose it in the print menu.

This time I can't find it.

Can it be done this year?

Client just brought 1099B Basically moved investment from one portfolio to another.

Sold all his JP Morgan

Question

3 short term sales one date

30 short term sales another date

30 long term sales one date

3 long term sales another date.

All covered

Can I just combine all sales for each date and have 4 sales if the numbers all come out right.

don't know how to do the summaries because of the various dates of sale.

Does that make them responsible for his debt in your state.  I am in Ca.

This is my first Utah return is there anything special I need to know.

Client will be no help, his wife passed and she always handled the finances and taxes.

He has no clue.  Oh yea and she used Turbo Tax.

40 year old son dies unexpectedly.

Not married, no children, no will, owns nothing,  Owes the IRS back taxes.

Who files the return.  There would be a refund that would go to back taxes.

Died 2 weeks before Christmas of massive heart attach.

I do parents return, and mom is asking.

Had one a couple of years ago. Big complicated return very pricey.  Complained and asked if I could lower the price.

I reviewed his return and decided I could not. Heck his return prints out like a book. 

I printed all the pertinent info Capital loss carry overs,  Passive losses for several rentals,  1031 info still needed, 8606 info depreciation history, and more.  The works, guy had it all.  Return was over 800.

When he came in I politely gave him all the prep I had done (at no charge) and told him I could not lower the price and what I gave him was everything his new preparer would need to complete a proper return.

He left.  A few days later he came back and said my price was in line with everyone he talked to and would continue to work with him.,

He said even HR Block was the same. 

I took him back and he is one of my best most organized client to this day.

I know though that my price was actually lower than most,  I have seen to many come in where they paid over $1000 to previous preparer with a much less complicated return,

My newest client this year came in because his previous preparer (he said was a tax attorney) refused to help him with a line by line audit this year.  Last years return was a mess.  ended up paying thousands because of deductions that simply were NOT allowed.

I googled the preparer he is not a tax attorney but an EA (still should have known better anyway)  I'm charging almost half.

Excess contribution taken back out in same year.  This is a roth

Code on 1099R is PJ Early withdrawal and excess distribution.  (Taxable amount shows interest only)_

When I put both in it comes up full tax and penalties.

8606 is asking for basis in Roth contributions line 21 part III

would this be just the 6500 for that year or the whole of all the years she has been contributing.

Form 5329 exception do not list the withdrawal of excess.  Can I just use 12 other

Just want to finalize this return.

Just like in XL.  put the courser on the line between return name and next field (mine is client #) at the very top.

The courser will become a double arrow pointing left and right.  Left click on mouse and hold while dragging the field longer.

It only works at the end of the field dragging to the right.  (dragging left shortens the field)

This is assuming you are talking about the return Manager.

Client paid College Planning ABC $ 3997 to help get his daughter transfer to the CA UC system from community college.  The co says it is tax deductible.  I have never heard of this before. Has any one else.

Is it deductible and if so where on the return.

This client is new this year. 

Line by Line audit last year and the preparer (he thought was a tax attorney, was EA) blew him off.

The last 2 years has amortized points of $207.

When looking at his doc's the last refi did not have points.  This was from a refi that was paid off.

Can I just take the remaining points on paid off loan this year?

how do I indicate jury duty it is flowing from a 1099misc box 7