Abby Normal

You also have to reduce the tuition expenses by the amount of tax free income on the 1099Q before calculating any education credits.

Or, and hear me out, the IRS could provide an easy way for people to file simple returns online. I'd bet most people never heard of the free fillable forms system the IRS has. And for those doing the old pencil and paper, how about a fax number to send it to the IRS? Or maybe make the chain tax services offer a free 'fax your own prepared return' service where you have to present some ID and the return will be high quality faxed to the IRS.

One page of a Sch C or one page of a C-EZ is all the same to me. I never liked the EZ form.

The IRS will adjust stimulus payments the same as they do estimated tax payments, so no need to amend and no need to worry. Pull an account transcript so you can prove to the client that they got what they were supposed to. And if the transcripts show they somehow did not get all they were entitled to, then you can amend.

Code M = enter no dates and just totals Code MW = ditto with wash sales Code BOMW = ditto with sale of K1 PTP investment. I used to break these out, but now I just aggregate. Codes are entered alphabetically.

I'm glad ATX lets you enter the Name Control and doesn't try to guess what it is or make you rename the trust to make it work. Did you check the name change box?

Why?

So you could send in a buck and choose extension. That might come in handy for some.

When are they going to make extensions truly automatic. If the IRS doesn't receive your return by 4/15 (or whatever date it is) then they extend you automatically. If you don't want an extension, then you have to file.

Nothing in the news.

The 'fix' is to install and configure Large Address Aware and to close ATX after every large return or 2-3 small returns. If I'm working on a very large return, I'll close ATX and reopen the return several times, including just before printing. ATX is like an old car you want to keep working. You have to baby it. Also, decrappify your computer, even if it's not a brand name computer. Brand name computers come loaded with crap. I saw this article yesterday on bloatware in Windows itself. https://lifehacker.com/you-can-get-rid-of-windows-bloatware-with-one-command-1848707156/amp

Not being psychic, I find everything to be 'unforeseen.' but seriously, the IRS will accept almost anything for this 'loophole.'

I played around with Encyro and was not a fan of the interface, but I'm sure I could get used to it.

I wouldn't use other income. Use the worksheet for wages because that's where it belongs, and wages are used for some calculations.

I had an app on my phone that taking a photo of a document converts it to a very nice PDF. I just tried it out and later uninstalled because I have a scanner. It may have been recommended on this forum, but searching will surely find several such apps.

Similar quote. The fundamental cause of the trouble is that, in the modern world, the stupid are cocksure while the intelligent are full of doubt. Bertrand Russell I would add that the stupid often think they are smart and don't need any additional facts to conflict with their beliefs. Another favorite quote of mine is, "Truth is a compliment we pay our beliefs." Not sure who said that.

All I know is that it's very expensive compared to the options available. We haven't started it yet. We just securely email the forms, the client prints, signs and scans, then securely emails it back to us, or faxes if they prefer.

I don't think that's possible in ATX.

I bought a Canon scanner a long time ago and it didn't last very long. Never again. I never buy multi-function machines because the scanning is usually slower and poorer quality, but mainly because, if you buy a separate printer and scanner, and one fails, you don't have to replace both.

I go to the EF form for federal and choose the 'Included Efile forms' before printing so I see what forms are being sent to the IRS. It is still visible when you bring up the print dialog. Then I print just those forms plus W2 summary by payer and 1099R summary by payer. In addition, I'll print some some worksheets, depending on the return, but I keep it to the bare minimum. I used to print a full return to PDF for myself, just in case something went wrong in ATX, I'd have something to compare it to, but I never needed it, so I stopped.

Client should have noticed that the 941s were still in the name of the sole prop, unless that business name was the same for the partnership. I wouldn't amend anything because the W2s tie to the 941s, and there's no additional tax due. Might send it all in with a letter to the IRS to see if they care to fix it, but I'm guessing they're not. And I second the method proposed by Tracy Lee, because I've done exactly that for both Sch C's and 1065's.

The problem is know whether it was included in the proceeds or basis by the broker.

They should require this info on the 1098 if they want people to actually go through this mess. 1098 should show beginning balance, ending balance and average balance, and also, refi costs rolled into the loan. Thankfully, very few people itemize these days.

ATX does handle this. The struggle is getting the average loan balances and the non-acquisition portion of the debt.

You should do what you know to be right. Tax documents frequently contain errors.