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Taxwise won't allow an efile without it, either.

My clients have a rental that was flooded in 2015. He has since become disabled and they cannot afford to fix it. Now, there is mold and according to them, nobody will touch it. So, there it sits. No income. What do I do with this? Leave it on the Sch E and continue depreciating it until they get rid of it or fix it? This is a new one for me! I can't imagine letting a HOUSE just sit and not attempt to fix it. But that's just me.

My client is a US Citizen, yes. I am on the right track, then. I told her when she sold it last year that I would need exactly that. FMV on date of death and improvements.

My client receives the equivalent of SS in Norway. She has an account there, where she deposits her SS, and we do the FinCen (FBAR) every year for the account she has. She regularly visits family there and owned an inherited vacation cottage there with her sister. Last year, she and her sister sold the vacation cottage. The vacation cottage sale is not taxable in Norway. Is it taxable here? Where do I go to study this? Thanks!

Thanks for all the responses. It's funny, I get emails alerting me to every new post on this site, but never get notification of responses to my own questions. I got slammed and haven't been back to check on this. The filing status was MFJ until the divorce in 2015. I'll put this off or pass on it all together. It is looking like she will be a very needy client. I never get paid enough for anyone who sucks a ton of time from me. I enjoy what I do too much to have a new client take a chunk out of my fun factor!

Can't we stop this??? I hate it. grrrr

I have a new client who needs a 3115 filed for depreciation not taken from 2010-2014; then, the incorrect amount was taken in 2015. She now tells me that from 2010-2014, she was married and it was a contentious divorce. The IRS has sent her a love letter demanding about $20k. I haven't seen the letter, and I haven't seen the tax returns. I am anticipating a huge windfall in tax prep fees if I can figure out this mess, so I'm still wanting to grab this new client. Plus, the financial advisor who sent her sends me a lot of great business. I don't want to let him down. I have only done 3 or 4 3115's and never like this where the filing status has changed. I wonder why she got the letter and her ex didn't. Or even IF her ex didn't. I just don't know. My question is, can I just jump in there and do the 3115 in her name only? Grab the depreciation and get on with my bad self?

I use TW, and the VA program still isn't populating the VA8453 for signature. I am getting ACKs back just fine.

It's a PITA Differential. I wouldn't spell that out on an invoice. I'd call it a processing fee. But hey, we all know what it is.

I called Virginia, and while it's not necessary this year, it will likely be put in place after this year. It is not necessary for the IRS, either. I believe those with ID MIGHT be processed faster. I'm dreaming, I know.

Gail, thanks for the clarification.

Last night, TW, 2 hr. 10 min. on hold for a 3 min. fix that could only be done by them. The good news is that I'm cooking with grease, now.

TW is killing me, too. Won't take my password, and I know my password. Dead in the water, I am.

I use TW, too. Sometimes, the states used to be slow to get to us, but the last few years it's been fast. The two products ARE very different. It's like 2 completely separate businesses under the CCH umbrella. I could save money switching to ATX, but I have used TW since I was with Liberty 16 years ago. When I started my own business, I stuck with it because it was easy to learn. It is, I believe, the better fit for a one-woman-show. And as long as I have my extended office HERE, I get through the tax season pretty smoothly. TW does not have a professional board like this one. To discuss software, we have to go to their blog, which I hate. It is like going to a mall of different stores to find one pair of shoes, the ones with the bling. I can never find them. I come here and BAM, there's my shoes.

The original post said the clients could qualify for a refund before the tax return is actually filed. Or did I read this wrong? "Approved clients may receive $200 on a Walmart eGift card the same day they complete their return with Jackson Hewitt. These clients will then receive any remaining loan balance when they provide their W-2 and file their return. Loans are repaid when clients receive their refunds." So, they are not actually filing the returns until the client provides the W2. Maybe I'm all wrong.

Once they get the money up front, what's to stop them from filing their own return and getting a full refund? I'm glad I don't compete with these tax-in-a-box-ers.

ORDERED! Thanks, Lion!

I opted out every time, but thought it started last year. I don't advertise at all. Not so sure it will stop the unwanted attention and emails, though. Although this registry caused some email spam, I have to say that when I first went on the Marketplace to look for health insurance (way back before I knew it wasn't for me), I was slammed with spam that has never ended. Never. Ended.

Thanks for all the information!

I have always worked alone, with no employees and no paid assistance. This year, I will be bringing a friend in to help me. She is a neighbor and will work as she is available, getting paid on a W2. She may be working some full time during peak, and she is definitely seasonal. My health insurance is purchased through my corp account. Will I get in trouble if I don't offer her health insurance? I don't think I will, but verification would be lovely.

Wow! Thanks!!

My client is NOT a US Citizen. He and his wife are citizens of Australia. She does not work, he is here, gainfully employed, on a VISA, and they have a home in Australia. They have rental property in the US as well as his employment. Is he considered a "US Resident" and required to file the FinCEN? I didn't think so, but I'm doubting myself. Reading this: "FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). A U.S. person is required to file Form 114 if the person had a financial interest in or signature authority over at least one financial account located outside the U.S., and the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year. A U.S. person includes U.S. citizens, U.S. residents, and business entities, trusts and estates, created or organized in the United States."

Oh, so I can go back from June 30 for my count and it can all be excluded. Sorry, I just saw this.

If you can get something for nothing, I'd sure like to know how. For me, I use ITransact for all my credit/debit cards. It works within the TW program, is secure, easy, always pays immediately, emails me and emails the client with a receipt instantly. The cost is very reasonable for CCH users. In TW, I go to the pricelist and click a link that takes me securely to their website. It has paid for itself over and over, for not having to chase clients down. I pay for it, sure. But it's worth it to me, for ease, swiftness, security and confidence. Leaves the client with a professional finish. You have the option to suspend the service during the year to save money, but it's only about $5/month to keep it active.

I have a new client, a Priest who has been working abroad for many years. Now he is back in the US, beginning July 1, 2016. He is a contract Priest for the military, and is being paid as a sole proprietor on a 1099Misc. I am looking forward to doing this tax return, and trying to study up before I'm knee deep in the hoopla. I read from the IRS site, but I still am unclear on how much and how to exclude his foreign income. He won't have 330 consecutive days in the foreign country for 2016. Am I understanding that I will prorate his income? Or, is there another way to include that income and take a credit for foreign taxes paid (since he did pay tax on that income)? This is from the IRS website, in part: Part Year Exclusion If you qualify under either the bona fide residence test or the physical presence test for only part of the year, you must adjust the maximum limit based on the number of qualifying days in the year. The number of qualifying days is the number of days in the year within the period on which you both: Have your tax home in a foreign country, and Meet either the bona fide residence test or the physical presence test. For this purpose, you can count as qualifying days all days within a period of 12 consecutive months once you are physically present and have your tax home in a foreign country for 330 full days. To figure your maximum exclusion, multiply the maximum excludable amount for the year by the number of your qualifying days in the year, and then divide the result by the number of days in the year. Physical Presence Test Under the physical presence test, a 12-month period can be any period of 12 consecutive months that includes 330 full days. If you qualify under the physical presence test for part of a year, it is important to carefully choose the 12-month period that will allow the maximum exclusion for that year. My edit; Here is the complete link: https://www.irs.gov/individuals/international-taxpayers/figuring-the-foreign-earned-income-exclusion