Abby Normal

I've checked nonresident, and chosen nonresident for school district and attached the NR form, but ATX is still calculating credit for taxes paid to a second nonresident state. The taxpayer has pass-through entities in both MI and MD, but is a resident of DE. I've read the instructions for MI 1040 and it says the credit is only for residents. What am I missing or is this a known bug?

It's taking longest for my trust clients. I thought all payments went to bank lock boxes so the IRS employees couldn't steal them... I mean so the IRS didn't have to process them.

The other states tax credit and improved automation of state and local taxes, make it worth it to me. I've never been able to make the 1099-Q calc's work and the education credit optimization is no big deal since you can easily see which is best by switching between them.

I think you were going for 'ravaged.' And, sorry to hear about your area having a rough go of covid.

There's an M2 reconciliation worksheet. Put the excess distributions in the adjustments column to reconcile it to Retained Earnings. Get rid of those fake loans, NOW.

My experience has been different, but maybe the IRS has fixed eservices. What happens when I fax a POA sign by the personal representative/executor along with supporting letters of appointment or POA, it lets me download the transcript but instead of the info being there, it's just a message that the info is unavailable.

There are certain circumstances where distributions can reduce AAA even if it's already negative. Possibly, if there were capital contributions during the year. I don't really know what AAA is for, so whatever happens with it, I just accept and move on.

When the IRS flags a taxpayer as deceased, certain features of IRS websites are blocked. You may never see it on 'where's my refund'. I know for sure you can't download transcripts for deceased taxpayers, which really sucks. If I see an obit for a client and I have a POA for that client, I immediately login and download all the latest transcripts before the IRS cuts me off.

ATX has blank elections and blank statements. Use the blank elections to type up the 351 election. There's no need to attach it as a pdf. It gets sent with the return. You can verify this in the Efiled forms tab of the EF Info form.

I have a shortcut to Alice Cooper's Hey Stoopid on my desktop and I hold the receiver up to my speakers and crank up the volume.

Before spreadsheet software, we would 'foot and cross-foot' to ensure our totals were correct. Now, we add a cross-foot formula to double check our totals. My choice is to have to formula display zero if it's in balance or the amount by which it is out of balance.

People who can't make it anywhere else, often end up in banking... or so it seems from my experience with bankers over the past 40 years.

You should share stories here on a regular basis. I would so look forward to reading them!

I'm not a SC preparer, but I had to research this for a client recently, and I agree with you that this LTCG qualifies for it. If SC disagrees, they'll let you know.

Why not go through the fixed assets and have it all just flow?

Likewise. I've looked at document management software for decades and could never see how it was better than self management.

Winrar is what I've used in the past. Best of luck getting things back up and running! Any details you'd like to share about the attack?

And tax pros can expect millions of phone calls about this. https://www.irs.gov/newsroom/13-point-9-million-americans-to-receive-irs-tax-refund-interest-taxable-payments-to-average-18-dollars

I do. Good! It's all a scam at this point anyway, just like the evictions moratorium that does nothing to stop evictions.

You were expecting anything else?

ABE Always Be Extending

I've seen this a lot with trusts, this year. I always take it as an opportunity to remind clients of the many benefits of electronic payments.

Enter as an other decrease to basis.

I agree. Different rules for each.

Cash > Deductions