Abby Normal

Anyone here remember the old 8" floppy disks. SS SD. I can't remember the capacity.

And no disk drive to put them into.

When I finally have to move to 10 (sad day), I'm going to consider using the Enterprise version, but that decision is years off.

Sometimes an itemized list will suffice. Federal has built in statements, but I haven't seen a state yet that does.

Have to? We do them on a scan of the documents with pasted in calculator tapes from Judy's TenKey. I picked up a pen to use it the other day and the tip had dried out! Have to keep the cap on now.

https://www.oo-software.com/en/shutup10 So glad I didn't 'upgrade' to 10.

I've seen these generate phantom income on disposition due the ordinary income treatment of part of the gain/loss, especially when people already have cap loss c/o. You can end up with a capital loss on disposition and still have to report ordinary gains on the 4797.

No, you're not out of line, but tell the client what I tell mine. Each PTP K1 will add $75 to the bill and any sales, partial or complete will add $150 to the bill. I have clients with 9 or 10 of these damn things. Fortunately, ATX does a very good job with them. Also, except for income and deduction items, we don't enter any amounts under $10. And you can skip a lot of boxes anyway like DPAD (box 13T), AMT, and box 20. Is getting them a $2 foreign tax credit worth even a minute of your time?

I charge for every minute unless the notice was due to my error... or they're a great client and my response only takes 20 minutes or so.

Most clients would simply forget to do it, and I can't do it for them. It's important to have because clients often fail to provide me with notices of changes from the state and that can change both the amount of the refund and the amount applied. I suppose I could add instructions to the organizer about where to download the 1099G, but you have to setup an account with MD to even elect to receive it electronically. That means remembering a password or resetting your password. I would hope that if it is mandated, they would make the process easier. Or make it so that their preparer could download it? How do these other states handle it? As for getting a youngster to help them, some have no kids, or no kids nearby or they are in assisted living with no computer access.

MD doesn't want to print anything anymore and have been encouraging everyone for years to download their 1099G for tax refunds. I know the majority of my client would either fail to download it or not know how to download it. MD is punishing us for not downloading by using the world's crappiest inkjet printer. The 'amount applied' was always a tiny font anyway, but these things are unreadable. Usually the numbers match what we have on last year's return, but still, these things are unreadable! The image below is zoomed about 200% from the actual postcard.

It's ordinary income so I'd say line 21.

Excellent! We have a fair number of them around Blackwater Refuge in MD. I used to see one every morning sitting in a tree. Awesome creatures.

http://lmgtfy.com/?iie=1&q=fingertip+tax+facts

But I'm not sure we're there yet: https://www.irs.gov/publications/p970/ch08.html#en_US_2016_publink1000178534 Taxable earnings. Use the following steps to figure the taxable part. Multiply the total distributed earnings shown on Form 1099-Q, box 2, by a fraction. The numerator (top part) is the adjusted qualified education expenses (AQEE) paid during the year and the denominator (bottom part) is the total amount distributed during the year. Subtract the amount figured in (1) from the total distributed earnings. The result is the amount the beneficiary must include in income. Report it on Form 1040 or Form 1040NR, line 21. Just remember to include room and board in the AQEE.

be aware that the latest hardware will let you install 7 or 8 but then you won't be able to update. https://support.microsoft.com/en-us/help/4012982/discusses-an-issue-in-which-you-receive-a-your-pc-uses-a-processor-tha

You have to wait until the test is met, so file in October.

I did two of these for 2015 and had to file special extension form 2350 because to use bona fide resident test, it has to be one full calendar year (not just 12 consecutive months). So the test period for you is 1/1/17-12/31/17, and you extend it until 1/31/18. With efile starting 1/20/16, it only gave me an 11 day window to efile the 2015 return. Now, if you can use the physical presence test, you can meet that at an earlier date.

Ctrl+P is your friend. I never look for little printer icons in any program. They're all different and in different places, but good ole Ctrl+p works every time! And, no, you can't customize the ATX tool bar/ribbon thingy or whatever the */%& they call it these days.

I think 'disregarded' means it doesn't matter from a tax standpoint. I would just treat it as his Sch C... and advise him to draft a memo transferring it to his name, unless being female owned is a benefit to his business.

We've always taken losses on houses in estates. Usually, just for the amount of the expenses of sale, because if it sells within a year or so, the best proof of value is the sales price, assuming arms-length deal.

Had a brainstorm and made better use of the checkboxes for question 19 about what to do with a refund.

Some people never figure life out.

My favorite picture of Rita at work.

Just thinking out load: If you don't allocate and you have passive loss carryovers, each property would not have the correct losses associated with it, which would be a problem on disposal.