Abby Normal

I don't consider version 0 viable so I wait for version 1 to install every year in early January. I've only been with ATX since the 2013 tax year, and some years have had 6 program updates. I think the fewest I remember is 2 program updates, but 0 is hard to believe. Maybe they've got in all figured out now!

I use IE by default for eservices, but when I'm having issues I fire up Chrome or Firefox. Firefox is my main browser as well. I just had to switch to Chrome for my online banking because it's not working with Firefox on my work computer, even though it still works fine with Firefox on my home computer. Go figure. As long as one of my browsers works, I'm good.

Yeah those things can explode in your face. I had one high roller with a bunch she finally sold. She had large cap loss carryovers and sold most of these at a loss, BUT the ordinary income portion that goes on 4797 was about 40k, so she had to pay tax on that. It was partly offset by deducting the suspended PTP losses on E2, but she still paid tax on the sales. I had one of these once and it seemed like they were sending me my principal back since the K1's kept showing losses. Never again. I tell my clients that the reason they're being invited into the partnership is because the business is so risky the banks won't lend them the money.

I never check before 3 weeks and that is today for my last fax. It was not processed yet, so I'll check again in a week. We used to be able to do these online, instantaneously, and that was so nice, but not enough tax pros used it so the IRS shut it down. Too many tax pros are Luddites and they ruin it for the rest of us.

The fax queue and the upload queue are supposedly one. The ones we've faxed this year are taking about 3 weeks. Just checked one we faxed on 3/9 and it is not yet been processed.

I'll tell you what I find amusing over at reddit.com/r/tax/. All the Robinhood folks who bought investments that give them K1's. They had no idea what they were getting themselves into! And many of them have not had the pleasure of selling these investments yet.

This is a good assumption. And, ultimately, it's the broker's job to provide the correct basis and the client's job to tell us if they think it's incorrect. It's our job to input the 1099B as it was given to us. Even if basis is missing, it falls to others to provide the basis to us.

We know if will work if you discard 8962. Sure, you'll get an IRS notice eventually, but that's easily handled.

Usually better to take the foreign tax credit. Also, use the FECWKST to report this income (I think).

The problem is, how do you know the gain or loss on the 1099B is wrong? The only way to prove it is to look at a set transactions that resulted in a wash sale and was later sold, to determine how that broker is doing it.

Have her on the phone while you do it.

Yes

Doesn't ATX require the 1310 to create the efile? I haven't done one recently.

I've resigned myself to paper filing decedent returns with refunds, and advise my clients to make sure they die owing taxes. I tell the family/executor to not make estimated payments after death or near death. So much easier to file a balance due.

Everyone I've seen this year, you enter the proceeds, basis and wash sale amounts as is and it equals the gain(loss) on the 1099B. In the past, there were a few that did not include the wash sale adjustment in the gain(loss) and that always gave me pause.

Maybe you can get it for her. https://www.irs.gov/identity-theft-fraud-scams/retrieve-your-ip-pin

If you're using 75% in the Illinois column of form NR for the unemployment income, I think it makes sense to use 75% of the subtraction as well, but I only do 1 IL return a year. I wish all the states would get together and have conformity for part year returns. I've seen people get really screwed moving between states.

We give them candy.

Facepalm Sunday

Centrifugal force warning!

Turned out to be a good move to not have her name on anything so all of the land got a step up in basis, not just half of the land. It might be different in community property states.

It's interest.

20 boxes of paper would last me about 10 years.

Do you mean RRC (Recovery Rebate Credit)?