Abby Normal

*cough*Paper*cough*

From CCH analysis: A taxpayer may also elect to exclude from the [business interest] limitation any real property trade or business as defined under the passive activity rules (Code Sec. 163(j)(7)(A)(ii) and (B), as added by the 2017 Tax Cuts Act). An electing real property trade or business is any real estate development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage trade or business. Thus, interest expenses paid or accrued in the electing real property trade or business is not business interest subject to the limitation. The election is made at a time and manner as provided by the IRS. Once made, the election is irrevocable. Comment Under the passive activity rules, the way in which a taxpayer otherwise groups activities does not control the determination of the taxpayer's real property trades or businesses (Reg. §1.469-9(d)). Comment If a taxpayer elects to exclude a real property trade or business from the business interest limitation, then the business must use the alternative depreciation system (ADS) for certain property (Code Secs. 163(j)(10)(A) and 168(g)(1)(F), as added by the 2017 Tax Cuts Act). This includes any nonresidential real property, residential rental property, and qualified improvement property (¶405) held by the electing real property trade or business (Code Sec. 168(g)(8), as added by the 2017 Tax Cuts Act).

I don't do an image. Just use computer printed name. The date is automatically on the preparer signature line. Just link that date to the EF form and the state EF form. Always mark returns complete when done. That makes the 1040 date freeze as long as it's checked.

I had to delete Sch A to efile a standard deduction return. I like to have Sch A in there to show the client how much less their itemized are than standard.

I hope not.

https://myatx.blogspot.com/2018/01/pending-tax-extenders.html

When in doubt, send it out. Besides, the answer has to be yes.

As an aside, when I start my computer every day, I have CCleaner run automatically and it deletes all kinds temporary files. This may have saved me untold grief over the years. Both QuickBooks and ATX have files that can cause the program to not work. I have notes on both. In both cases, the solution is just to delete the file, because the program will recreate on start. And I always ask, why doesn't the program just delete the file as part of the start up or close process to begin with? Anyway, here's the ATX file that keeps your server from starting in 2015 & newer: C:\Program Files (x86)\Common Files\CCH Small Firm Services\ATX 20yy Server\Sfs.ServerHost.exe.config Replace 'yy' with the year in question.

I don't dread the 'quick question' anymore, because one led me to being able to sell my house to their son without a broker, thereby saving a 6% sales commission.

If the new business interest expense limitation applies to rentals, there is an exception for small business with average gross receipts of $25 million or less, so I don't see how it could be a problem for most rental properties.

In ATX, the MD forms are not even ready yet. I take that back, apparently MD is ready as of this morning. Either that or I needed to run a forms update last night because I couldn't create the MD 502 efile last night.

The IRS processes selected returns from big preparers in order to test their systems, so there are some lucky few who get to file early. It's call the HUB program.

Just posted on the official board. Delete this file: C:\Users\{UserName}\AppData\Local\Temp\Sfs.Cache\ZipcodeData https://community.atxinc.com/forums/permalink/254421/254614/ShowThread.aspx#254614

This has been reported, but not everyone is having this problem.

Actually, it's improved a lot over the years... but it still basically sucks compared to modern websites.

We used to be able to enter POAs instantly on eservices, but the IRS took that away. They said it was because not enough practitioners used it. I used it. A lot. They also took away EAR account resolution which was like a dream to me. Resolve IRS notices in days rather than months. Again because not enough practitioners took advantage of it. I was totally bummed when they killed EAR.

Not 'give up', verify. They already have this info.

Our driver's license never changes unless we move to a new state. ATX could roll it over and just let you know it has expired.

Hoo-boy. There would be some interesting responses to having a microphone on my desk recording client's answers.

You can't bulk sale different kinds of property. Well, apparently you can but you really should not.

A 3rd party designee will not get you into eservices transcripts. You must have a 2848 or 8821 (I've never used this form).

Yes, the land and building are separate dispositions. First you have to decide how much of the sales price was for the land. Then prorate the closing costs by the same percentage. We use the most recent assessment to ballpark how much is land vs. building. We do the same when a building is purchased.

CAF check failure just means your POA has not yet been processed by the IRS.

The 10% brackets remained the same, just adjusted for inflation.

Yes.