Abby Normal

It's not a duplicate. It's just telling you to classify that much of the gain as ordinary gain over on 4797 Pt II. People with large cap loss c/o can hit with phantom income when selling MLPs. Also, you should be freeing up PTP losses to be deducted on Sch E. I've done a few Kinder Morgan's already. I would never invest in one of these.

Speaking of education credits, I was doing one last night and switching between AOC, lifetime & deduction to see which gave lower tax. Deduction was giving lower tax and I almost didn't give it a second thought because it was a higher income return, but my spidey senses told me I should look at the 8863. Well, lo and behold, there was no 8863 in the return. I almost blew that one! Would be nice if ATX alerted you to the fact that no 8863 was in the return when you choose. It probably would have added it when I left the detail input screen but I didn't try that.

Too bad. This was one of my suggestions. I think it's wrong to have a 1-3 pack and a 4 to infinity pack. I wanted them to add a 4-7 pack, an 8-10 pack, etc. I feel like I'm really overpaying for the extra 2 users I need. Oh well.

Depending on the pricing this might save me money. I need 5 users so I have to pay about $600 fox Max package every year. If they price additional users at anything less than 300/ea, I will save.

If I'm not sleeping, I'm working. Might call it quits earlier Sunday evening if I've been really productive.

"when you purchase these enhanced asset capabilities along with your ATX renewal"

A lot of people were paying for useless health care plans before and having to file for bankruptcy even though they were 'insured.' Health insurance companies need to go back to being nonprofit like they were in the 70s. No reason to have shareholders earning dividends off our struggle to be insured.

My finacee is taking IRA distributions so she doesn't slip into Medicaid territory. We can't get married because she would lose her PTC and go from paying 70/mo to 500/mo. I dropped my old grandfathered in plan for a new plan because the premiums were much lower and it offered better coverage, but with a higher deductible. I don't care because I'm just looking for catastrophic coverage anyway.

These announcements always make me both excited and nervous. Edit: Oh, I see that it will still be an additional fee for these enhancements. I think I'll pass. I only have a few clients with assets in more than one state.

No income = no return. It's in the instructions. $600 minimum income filing requirement.

Alt-Space M Press down arrow until it's on the screen. And, yes I wish ATX would not reset all my window sizes and positions every time there's an update! I have to resize my print window and my communication manager window. And I still think if you were running ATX maximized, and not resized, you would not have this problem. Unless it's an issue with windows 7.

Quick & dirty refresher: If it distributes principal and income it is a complex trust. Income only distributed is a simple trust. If not all the income is distributed, some income stays in the trust to be taxed. Capital gains/losses usually stay in the trust until final return. Always read the trust document.

It rarely goes about 500MB of memory unless you have more than one return open. I have 3 returns open now and it's at 616 MB.

Rich, I just backup my install files. CrashPlanPro gives my unlimited storage and besides a 500GB backup is tiny now that hard drives are now in TB.

You should read these examples first: http://www.irs.gov/publications/p970/ch08.html#en_US_2014_publink1000178534 I've never had this situation arise.

Since I have no idea what you're talking about, I'm guessing you don't run ATX maximized?

The condo association's master policy covered his unit.

ATX screwed up the MD 502CR this year and I've let everyone I can know that they should have left it the &@#( alone because it was perfect in 2013. Programmers waste time 'improving' forms that don't need changing, instead of making real improvements because THEY HAVE NEVER PREPARED TAXES and they don't know what they're doing.

I would take contributions made while a resident of MD only. The way MD PY calc's work, it's a double edged sword. The lower you make MD income, the lower your itemized deductions and personal exemptions become.

Sounds correct to me but why on earth did they take the money out of the IRA instead of passing part of the IRA out to the beneficiary. Was there no beneficiary named on the IRA account?

Just use Ln 7-Wages tab.

Check boxes for final disposition of PTP and final K1. Also, the gain/loss should be on a 1099-B from their broker. AND the K1 should have a statement showing you how much of the gain is ordinary and needs to go on 4797 part II. If AMT is an issue, there is a number on the K1 attachments for that as well.

You can't amend from joint to separate after 4/15 or extended due date, but if joint was an error, you can amend anytime you want.

If you pay the IRA advisory fees with funds outside the IRA, you can deduct it, but it only makes sense to do this if the fees are large and you're already over the 2% limit because it both saves you taxes and leaves more money in the IRA. For most people it's smarter to pay the fees inside the IRA.

Unless they're working odd hours, you could connect remotely with TeamViewer (my current favorite) to their computer and transfer files your exports directly. Do exports contain all the same info a backup does?