Abby Normal

The list is too long to post, but I will say that everything takes 4x as long to do and the reports SUCK!

Excess Deductions of an Estate An excess deduction resulting from an estate's total deductions being greater than its gross income, in the previous tax year, is a miscellaneous itemized deduction and beneficiaries can no longer deduct it. https://www.irs.gov/publications/p529#en_US_2019_publink10004383

The Sch A instructions say only what's listed can be deducted and it doesn't mention excess expenses from a trust or estate. It says to see pub 529.

Wow, I've never encountered that. Sorry for your troubles! We keep a spreadsheet with all our QB passwords.

We enter totals by Casino. Hopefully there isn't a new red efile error on the W2Gs this year, but if there is, I'll just skip the W2G screen and override the other income line. Edit: You're good to enter totals. I just tested one and the W2G only requires name, addr and EIN of casino. You can leave the rest blank, except for withholdings.

Capital losses passes out to beneficiaries and are not part of the 2% excess expenses deduction. I've never had a trust with an NOL so I'm not sure if that passes out like capital losses do.

The distributions will not pass out the loss. The loss will create an NOL inside the trust. Not sure off the top of my head about passive loss rules inside a trust.

Weren't there any distributions to the beneficiaries? Whose bank account was this all being run through? The trust needs its own bank account, in addition to changing the mortgage, and the title to the trust's name. But if this was all run through the individuals bank account, then all the income has been distributed to the individual. Follow the money!

And, of course, F1 is Help like it is in almost every program.

Of the three ways to restore that field (right-click menu, Ctrl+R and F4), only F4 works.

The other useful function keys are: F2 Highlight entry toggle F3 Form Instructions F4 Mark/unmark as Estimate F6 Jump to F7 Crossreference (kinda the same as F6) F8 Calculator F9 Recalculate Shift+Ctrl+F12 Deprec Calcs

Useful Function Keys F2 Highlight entry toggle F3 Form Instructions F4 Mark/unmark as Estimate F6 Jump to F7 Crossreference F8 Calculator F9 Recalculate Shift+Ctrl+F12 Deprec Calcs

Right click on the field and choose Restore. Or click on the field and press F4 function key. I just tried it and the menu method does not work, but the F4 does. Hooray for keyboard shortcuts!

You can save half the SE tax by putting it on 8919, reason code H. I don't know if the IRS gets back to the employer when you do this or not. If you're worried about losing your job... put it on sch C.

My bad. It's purple. At least to my eyes.

It depends on the size of the returns. I can open 3 small returns at a time. I can open one large and one small, but I can't open two large returns at the same time.

The sale of principal residence is on the 8949. Sch D is little more than a summary these days.

Hard to blame us. Seminars tend to scare the crap of out us lately.

Shouldn't he have been doing payroll all along? Reasonable compensation?

ATX sometimes jumps to the wrong form on errors. One thing I learned after a few years was if you single click on a error, the cursor will be put in the field that is a problem. For some reason, I started out double clicking error messages, which does not . Now that's dense! A screen capture of the 1040 might help, but you'll have to cut off the name fields, and if the error relates to the name field, we won't be able to see it.

Look for a pink field which is the sign of an estimate. You may have accidentally pressed the F4 key.

I called support (Advantage Support) the other day and they answered within 30 seconds and solved my issue quickly, with knowledge and competence. I rarely resort to calling support but I've usually had an excellent experience with ATX phone support.

I like David as a presenter but I do not like Mary. I stopped going to some seminars because she was frequently a speaker.

I delayed all Win10 updates for the max of 35 days, until 3/1. After it updates, I'm waiting until 3/12 to defer for another 35 days until 4/16!

Ignorance?