Abby Normal

It did that in 2013.

Perhaps it did but you couldn't tell because of the wacky way the backups were named & stored.

Edit: I just tried it in 2013 and did not see any new files in the backup folder. It's soooooooooo much nicer this year! And reassuring!

I thought 1.263(a)-1(f)(i-ii) is the $500 minimum capitalization election for assets

and

the 1.263(a)-3(h) is the 2% or 10K election for rental properties.

Just tested it and it immediately creates a backup when you close a client.

http://apps.irs.gov/app/eos/mainSearch.do

Set the land up as a separate asset and do a bulk disposition. Add selling costs on the disposition screen.

I used the Detail screens for interest, dividends and investment sales. Much faster. It's like a spreadsheet. And, unless the taxpayer had a lot of accounts with less than $9 interest. I would skip it.

Did you know the Statue of Liberty's design was based on the central figure of the Monument to the Forefathers in Plymouth MA?

 

http://en.wikipedia.org/wiki/National_Monument_to_the_Forefathers

http://en.wikipedia.org/wiki/Statue_of_Liberty#Design.2C_style.2C_and_symbolism

That is what I did when I got the error message.  The 1099G had $0 in box 1 and a repayment amount.  I could not get past the error so I put it on line 36 with an explanation.

 

Tom

Newark, CA

You might want to read this:

http://www.irs.gov/publications/p17/ch12.html#en_US_2014_publink1000172015

>If you reported it as wages, unemployment compensation, or other nonbusiness income, deduct it as a miscellaneous itemized deduction on Schedule A (Form 1040).

>Repayment over $3,000.   If the amount you repaid was more than $3,000, you can deduct the repayment (as explained under Type of deduction , earlier). However, you can choose instead to take a tax credit for the year of repayment if you included the income under a claim of right. This means that at the time you included the income, it appeared that you had an unrestricted right to it. If you qualify for this choice, figure your tax under both methods and compare the results. Use the method (deduction or credit) that results in less tax.

Hawks. Us BirdBros like to flock together. But I just want it to be a good game. Won't be mad either way.

Ravens Fan

Yeah, I was excited when I realized I could duplex print, but, except for a few in house forms, we never print duplex.

It's ususally a retirement plan.

Customizing forms is one of the best features in ATX.

1040 check third party designee, check to print Line 44 Tax Calc, Line 48 Foreign Tax Credit, Line 64 Federal income tax withheld, AGI Split

All EF info forms check ERO/Practitioner, ERO entered, and enter ERO PIN

All biz returns check May IRS discuss return with preparer.

K1 Input (1120S) check calculate basis, check to print allowed & carryover worksheets.

K1 Input (1065) check to print allowed & carryover worksheets and PTP worksheets (this was tricky this year. You have to check PTP on Input first, then uncheck later).

1065 Line 20 check to supress preset descriptions, check to NOT print Sch L Balance Sheet per books worksheet,

1120S Options check complete sch L and M1, line 19 check to supress preset descriptions, check to NOT print Sch L Balance Sheet per books worksheet, Print Sch M2 worksheet.

1120 Options check complete sch L and M1, line 26 check to supress preset descriptions, check to NOT print Sch L Balance Sheet per books worksheet.

Sch B (1040) Check to print

Sch K1 (1120S) check to print page 2 codes, uncheck print K1 letter, check to print shareholder basis, uncheck print K1 letter, Input-shareholder entity type I

Sch K1 (1065) check to print page 2 codes, uncheck print K1 letter, check to print partners basis, basis summary & capital summary

1040-ES check Round to 100

Bank Account Info check personal, check No for foreign, check all jurisdictions

We customized the hell out of the 3115 this year.

This was my biggest complaint with ATX.

Last year ATX supported duplex printing for federal forms and schedules but not for state forms and schedule.

 

There was a lot discussion on the ATX Board about this last year.

If you print to pdf first, you can print everything in duplex from your pdf viewer.

I'm very excited because I had to use spreadsheets to do these calculation last year.

Edit: I just checked the Basis worksheet (for 1065 & 1120S) and it's been updated too! Yay!

I missed that it was a rollover. If the 1099R is done correctly, you shouldn't get a notice. As for doing it now, why? Tell her you'll do it in May.

Thanks!

Haven't seen any posts here or at ATX forums.

Two sided printing is controlled by the printer, not ATX (or any other program). Your current printers most likely will print two sided. Look under printer properties.

Edit: I take that back. ATX has a Duplex button when you print directly to a printer. I only print to my PDF printer so I've never seen it. Not sure how/if ATX controls the printer.

I used to refuse to do any 1040s before 2/7, but I have a few that are just a W2 and maybe a 1098. But forgetting you took money out of a retirement plan could happen to anyone.

I'd just smile and amend. They'll learn their lesson when they have to pay your bill.

Amazing. Thanks for sharing!

 

 

Do I upgrade my 2 year old HP laptop and 3 year old HP desktop that are working fine (but could be faster), or do I go out and buy new with SSD in them?

 

3 years is getting a little old. A lot of things like power supplies could be getting ready to fail like the power supply or even the processor. But you could probably get another year or so out of it with a new SSD and power supply.

I usually just buy new components and reuse the old case. That's why I don't buy HPs or Dells. I'll reuse the DVD player, memory, mouse, and keyboard if they're still up to snuff, but everything else is new.

The W9 now asks whether the LLC is taxed as a partnership or a corporation. The reason the IRS added that was so you save issuing 1099s to entities that are essentially a corporation. So the answer to your question is (as always), it depends.