ljwalters

Is this income subject to se tax. Some kind of perdiem (sp)

Grand jury is voluntary are the miles to and from the meetings and out to crime sites charity miles.

Was told by the court the meals would be deductible.

I don't by the meals as deductible but I'm not sure about the rest.

The capital account is not negative.

Partnership only open 8 months.  All the assets were purchased from the SCorp closed last year and Capital gains paid.

Main partner ( builder of custom product) gets cancer, gets sick, dies.

Refunds made out of personal account which also adds to capital account.

So now NO negative capital account. 

The assets can be converted to personal, Right??

Also Wife is still trying to pay refunds out of her SS income.  Are these deductible as NOL for closed business?

Thanks

Thanks for the heads up.  It's great that you took the time to pass this along.

Just use the corrected numbers and check the box indicating corrected.  Do Not put both in.

Trust income was 2 1099int totaling $39.  Trust is now closed. no final ever filed

Does it need to be filed at least to submit final return?

Client doesn't think it needs to be filed.

OH Yes been there for a while now.

Hilarious.........

What is gnocchi?

^{Should there be any penalties?}

Thanks for the post.  I have been filling them completely out.  But not printing.  I will not longer waist my time.

Client makes contribution to Roth in 2014.  After her taxes were completed she made to much so had to remove the contribution.

She did and received a 1099 R coded PJ, and all is being taxed and penalized. 

Early withdrawl should not be there because she is 64yrs of age.

The 8606 is asking for the basis of the IRA contributions.  Is that all contributions or just the 6500 she contributed in 2014 (and removed in 2014)

Shouldn't she only be taxed on the interest earned, even the 1099R shows taxable amount 16.76.

What am I doing wrong???

Thanks

Client died and partnership closed,  Can the assets to converted to personal use.

Partnership is Husband and wife. partnership required by CO.

Husband died, everything goes to wife.

She wants to just give the equipment to his son.

Client was covered all year thru work.  (good so far)

Significant other on Medi-Cal all year.

Just check box on line 61?

I am probably over thinking this But, Here it goes.

Family of 4

AGI $ 48,237

Father insured thru work

children on Kaiser plan for $20 per month per child

Mother Covered California received Form 1095A .

I use Form 8962 with wife's info only.

No place to indicate rest of family had coverage full year.

Is this correct?  So done with this return.  (I was going to retire next year, should have done it this year)

Extra Question: Why is poverty level so much lower the EITC levels.

^{Payment is 4000+ for 2014, Repayment it 364 (Prior year).}

^{If I put both numbers on the 1099G in ATX, ATX is netting the amount on 1040 to 3636+.}

_{Do I just take it off the 1099G input then.} 

client has prior year  repaid unemployment on 1099G.

How do I code that in atx.  How do I indicate it is prior years.

Right now it is taking it off on the 1040.

Client has no Sch A to put it on, but, I know this is not right.

Gail what is the HHS site?

No he is 39yrs old and his mother died late in 2013.

He has had health and other issues and just started getting his life together when he started College.

He went to school on a full grant and scholarship.  Only took student loans to pay living expenses.

I agree with Pacun on the less than 3 months.

How ever as I mulled this over last night.  The fact that is income was $832 for the first 6 months, there should be no penalties for those months coverage is unaffordable for 5 months and half of the 6th. Coverage eligibility was 60 days hiring and started first of the month

after eligible (company rules).

What do you think am I way off base here.  And now how to input.

When I asked client if he had insurance all year he told me he had minimal insurance was included in his college tuition.  I know when my daughter went to UOP insurance was required.

The question is does this qualify for aca. 

Graduated end of May.

got job middle of June.

Insurance with job started Sept 1.  (normal waiting period)

No DD in box 12 of W2

Before June total income $878.

Total income for the year $29,723 all earned after June

Hard ship for first 6months

WHY couldn't my first one be an easy straight forward one.

Help

Client is closing s corp.

Can the auto be converted to personal.  When I code it that way and put in fair market value it doesn't show up on the return any where.

Thanks is is about a  $700 Change for client.  So I will amend.

this is the second amendment for change on 1099 from brokerage house.

Do I have to indicate it is the second amendment some how and can I efile it.

Thanks JohnH