ljwalters

Clients w-2 Line 12a has an amount for W HSA contributions The amount includes both employer and employee contributions. How do I separate it out on the 8889 so he can get his adjustment on the 1040. or does it matter Here's how it looks ln 2 1560 ln 3 6450 ... ln 9 3406 (employer 1846/employee 1560)... ln 13 1560

I was in Jr. High. We got the news as we started to get on the school buses.

Agree with KC

The Fiduciary paid all his bills took him to the doctor, organized the in home care and even the hospice in the end. Some of it was definitely medical expenses. A blind person who has to pay a third party to read the mail and balance the check book is able to deduct under disability expenses. Why I this different?

Client was to ill to handle his own finances. Family member who was suppose to be helping was financially raping the senior. The court ordered an independent Fiduciary. Are these fees deductible under medical. Client does qualify for the in home care services. I am just asking about the Fiduciary services. Thank you. It is her fault this return is so late. She just sent me the 1099 r , int , and div's and medical and care expenses last night.

The problem was that they owed more than the basis in the property. What I discovered was that they had (before they came to me) refinanced to buy their new home and rented the old house. They lost their personal residence last year. They couldn't get the renter out of the rent house and a lawyer told them it would be cheaper to sell the property. She sold short. her capital gains using both the sell 1099s and 2 1099c's was over 200,000. Since the extra mortgage was not to improve the rental it is all taxable. I took the accrued interest off on the E. If I did it wrong please tell me. It is not sent yet.

I have done these before, I don't know why I can't figure it out this time. Maybe I'm already brain dead befor the new tax season even begins. It's been a real trying mentally and physically last 5 months. So here it goes. Cancelation of Debt. Scenario: Client did short sale on rental house. Has 1099C for $281,051 including $38,985 accrued interest. And 1099C for $26,779 including $600 interest. Insolvency worksheet shows insolvent by $164,236 This work sheet included 401K statement showing a value of $116,283, but the cash out value is half of that only $58,141. The difference is the client does not get the matching amounts until after a certain age. Questions: 1. To determine insolvency do I use the statement or the cash out amount? 2. Where do I report the interest part of the 1099C? On sch E or form 982? 3. On form 982 part l both b and d apply, do I check both? 4. Does the 1099C amount get added to the sale of the rental house or does it go on 1040 line 21? 5. In this scenario does the insolvent amount go on the 982 part ll line 4? Final question. What is the advantage of using the insolvency worksheet and form 982 if the amount of insolvency reduces the basis? It seems to cancel out any benefit. What Am I Missing? Thanks for you help Linda

Thanks had to check.

My opinion is no. but I have been wrong before. Client racked up a lot of medical miles to visit and help care for an elderly aunt that had a stroke. (Now she lives close and she still care for her) Are these medical miles deductible?

out here cable is no. one not available, no. two not reliable. I have DSL through Verizon, That and all cell phones went down. Who ever it was also tried to take out a PGE transformer a few miles away.

One of my clients asked me why I put them on extension if I was going to be able to finish their retun in time. My answer was " What if somethng happens and I am not physically able to complete the process, This is to late in the season for you to find someone else." Their response was "don't say that, nothing can happen to you, what would we do." Fast forward 04/15/ 2013 some time in the evening or night. Some jerk severed the fiberoptic in our area and no internet unto 04/17. I sure was glad I sent the extensions early. And I was sweating the final returns I did send (no AKS )

Good for you KC. I feel the same about the name. And I am glad you are staying around.

Still haven't received a CO ACK sent the 10th.

I don't think she can roll it over to a 9 year old.

Also time for the donation to Erick. don't forget. I sent mine today.

Bulldogtom, You can set the registration on an auto up the same way in CA. Not just financial accounts

Just happened again. This time I caught it not the client. 8879 and payment vouher are different.

Just had client call and ask why the 8879 and the 1040 (the match) show different amounts from the 1040 V. I checked my printed copy and she was right. I went back to the program to scan the inputs and the 8863 had recalculated. (during a printing????) I am so P_____ off. Just something else we need to keep an I on and I wonder how many others were affected.

Client sold rental house on short sale. Got cancellation of debt. The sale goes on the schedual E. Where does the 1099C go, on the E as income or the 1040 as other income? Also can insolvency work for this cancelation of debt even though it was a rental. I know I have done one of these a couple of years back but the losses on the rental wiped out the cancelled debt. This time the cancelled debt is to high

I was right on my assumption. Wife inherited farm husband gets nothing. passive losses goes with the farm.

Thi is new client. Client was married for 18 years or more and divorced in 2012. Filed jointly in 2011. Copy of return has passive losses from a parm rental sch F. Question: Does the passive loss go with who ever still has the Farm rental or is it divided, This is a community property state. Client comming in half an hour and I wanted to know before he gets here. All the papers he sent me does not include any Farm rental so I am assuming wife got the farm. (might hav e been hers to begin with).

I would do that but it is comming from a ca K-1

I went to ythat work sheet and the numbers are right. but still getting the error.

I put the numbers in the passive field and it did not carry forward to the CA with the $8 addition. What next?

Client called wanted an AM appt. Thats fine with me. I asked what time would he like He said how about 6:30, you live in the country you must get up early. I said yes and I may even be working then but I am still in my PJs. He said, That ok I'll where mine. I said you can come at 6:30 if you like, but , the gates don't open until 10:00 He came this morning at 10:02.