ljwalters

When he baught the land in 2006 was it already divided. In other words did he buy 2 parcels or did he pay to subdivide. I believe that would make a difference.

Part 1 line one

Now I get it it is treated like a benifit. Now for the kicker. The HSA company says the employer contributed one amount and employee contributed additional. HR at company has different amounts but the W-2 code W has a third amount. Should I just take the amount of total contribution and deduct the amount on w-2 code W and put the rest as employee contribution? I have never had any trouble with this form before.

Gailtaxed, It was not deducted from taxable wages.

The W-2 sendes the amount to the 8889 as emplyer contributions and does not end up on line 25 of 1040. So what am I doing wrong. and if it can be after tax contribution why does it increase the amount of wages for the state that does not conform to the deduction?

I had a client that had about an $800 return every year. 1031 exchange 4 rentals 2 K1s three brokerage accounts. Massive carryovers both 8582 and Long term and short term capital gains. 8606s this list go on. When he called for his appointment he said my fees were too high and could I lower it any. I told him I would see what I could do. After reviewing the complete return from past years I decided I couldn’t lower my fees. So, I printed him a book of all his carry overs and carry forwards, his many 4562 reports and had it ready for him at his appointment. My first words were “I have prepared for you a full accounting of everything your new preparer will need to properly complete your return. “ When he asked me why I was not going to do the return, I told him I couldn’t lower my fees. This was three years ago and he is still a loyal client. Oh did I not mention that his income was several time over 6 figures. at is an $800 dol

First, the Code W in Box 12 of the W-2 indicates the amount of contribution to HSA from employer. This amount is supposed to be nontaxable. Why then is box 1 (wages) not lowered by the amount of the contribution? I.e. Wages same as SS Wages. Then Ca. Wages are increased by amount of HSA contributions (increasing taxable amount to state) Can anyone explain this to me?

Can client put max in both sep and triditional ira if income allows. And will a large one half million dollar taxable sale of property which will change the AGI make the triditional IRA non deductable. Client is expecting a K1 from the sale of property from a trust to hit her real hard tax wise. She is trying to shield as much as she can.

Thanks margret, I don't know where I left my eyes or my brain. Time to stop and mow the lawns.

I can't find where to input the sep IRA for self employed client.

I'm with KC Close the account.

Thanks KC, I,m so tired I didn't even get your joke at first glance. My thoughts went to "I don't remember moving it"

Can't find the detail report for state depreciation

Is the trustee also the tax pretarer. If not you could have your client contact the preparer and request copy of the Tax return for prior years showing the deprieciation schedule.

KC, Loved it still LOL. Sending it to my daughter and IT person.

My point exactly, I think the possible client is worrying about nothing. It is only a guess that it mght be a related party since the email mentioned that the broaker recommended an attorney to manage the transfer.

When she converted it to a rental 0 personal days

Posible new client just emailed me that he purchased a boat from a CA LLC and do I know anything about such transactions. If he purchased from a nonrelated LLC then this is not a taxable event. If he is related in some way the taxable event go to the LLC not lthe related party. Am I wrong on this? He is comming by tomorrow to talk. Am I missing somewthing

I didn't ask. My only question 14 years ago was do you want to efile. Almost all my first year client did efile (34 to be exact).

Client (teacher) was paid to take a class on math concepts. IT was reported on 1099 misc. under nonemployee comp. Wouldn't this be box 3 other income? No se tax. What is your opinion.

KC When I do that after the fed is already accepted the state still comes up held. (Unless I go into preferences and change global setting) Linda PS This keeps happening to me because some (not all) of the CA returns get rejected because signature date is over 2 days old.

as anoying as everything else

if a state is held and needs modifying after the federal is accepted, is there a way to take that state return off hold without changing the global prefrences and re creating the state efile.?

Thanks Jill, I guess I'll just send it off then.

Just got threw filling out the 8849 with ESPP. The 1099B showed the basis as the exercised price. Not including the amount included in W2 wages. So I filled out the 8949 with code A basis showing the put an adjustment as a negative number to lowere the gains using code B (basis shown in box 3 form 1099B incorrect. Then under explanation of Basis if other than cost I put------difference in basis is included in W2 DID I DO this wright.