Abby Normal

8606

8606 handles Roth basis. Now you just need to figure out their total basis.

There's no need. Windows does this for you automatically. Or you can go into Device Manager and ask windows to check for a newer driver or install one that you downloaded.

Where's My Refund site needs to have a dropdown for the past 3 years at least. Once they switched it to 2021, everyone still waiting for a refund lost a useful tool. I guess they figured it would never get this bad, and one year would always be plenty.

Have the taxpayer get an IRS account, or get a POA and use eservices to pull transcripts, or call to request transcripts.

Yes they can. They can even pick specific lots to sell, as long as they work closely with their broker.

PDFs can have restrictions placed on the that include stopping people from editing them or even printing them. So check your PDF printer preferences and printer properties to see if that's happening. If you have a PDF editor program, you should be able to see, and sometimes remove, any security settings. You might need a password to remove some security settings. But my first question is why are you printing PDFs received from your clients. We love it when the clients provides PDFs, assuming they were downloaded or scanned properly, because we only work from PDFs when entering data for tax returns. Love being able to zoom in to make the tiny numbers more readable. And we use the typewriter feature in Foxit PDF reader to make notes on the client docs, including pasting calculator tapes into the PDFs. Finally when you say you 'can't print them,' what exactly happens? What do you see on your screen? Does it look like it's printing but nothing prints? Do you get an error message? What printer is showing in the print dialog? Also, uninstall any printer software that came with your printer. I would disconnect the printer from your computer. Then delete the printer in Control Panel, Devices and Printers. Then reboot your computer. Then connect the printer and let windows detect and install it. You probably won't see anything happening, but if you go back into Devices and Printers, your printer should be there. And windows will install the latest driver automatically.

I've rarely needed help over the years, but I've mostly gotten excellent support. For the past 6 or so years, we've Advantage and that comes with Concierge Support, which has their best people in it. With Max support, you're mostly getting temp help who just enter your question into the Knowledge Base and read you the answer.

Just try it. No harm in trying.

Same. We added a text box with a signature line and a date line.

Me: You did get the refund, but you paid off another debt with it.

EFTPS might be too hard but Direct Pay is pretty darn easy.

These rules are going to change because it's unworkable as is.

So when you said he received a 1099PATR you really meant that the trust received a 1099PATR? And he got a K1 from the trust?

Same, and have been for at least a decade. Seen way to many problems with mailed in checks.

And make sure you don't include the charitable deductions paid with a QCD on Schedule A or the new charitable deductions line. They really didn't implement this in the best way and it's easy to double dip, unintentionally.

Sounds like a plus, not having to file an 8867.

This applies to clients as well. I had one client who wore too much of sickeningly sweet smelling perfume, and sometimes she's hug me and I'd smell her perfume until I went home and took my clothes off. Thank goodness for the pandemic and working from home!

I almost never use those lines because I like to see the totals on the 8949 Details tab. In the case of multiple brokerages, I would enter totals by brokerage by code. I would not add them together because it's easier to look at later and double check, if they're entered separately. But from a tax standpoint, you could add them up or do an Itemized List on Sch D, but at that point, you might as well enter them on 8949.

The worst is records from a smokers house. Smells awful and it makes me sneeze. Fortunately, there aren't many of those anymore. Also, I never see the hard copies of the records, just a PDF, so someone else has to deal with smelly records.

Same, but I like to input on the Details tab because it's like a spreadsheet and it has totals. You'll want to set the Preference to not calculate when working in Detail tabs because, for some unknown reason, it calculates really slowing in Detail tabs. But saving recalculates so enter a line and save, then check that the gain is correct. If there are wash sales, the code is MW, and multiple codes have to be alphabetical (BMOW). And, yes, I have used the BMOW code when a K1 sale is included on the 1099B.

Unless you have a home office and no other principal place of business.

We've all done this, which is why I prefer to run it through the software to be certain of my answer, in some cases.

It would be best to amend, although the IRS is probably just collecting info. I doubt they'd waste precious resources on something that has zero chance of generating revenue.

There is a statement built into ATX. Another preparer showed it to me, but I haven't gone looking for it.