Karen Lee

Have a 2014 593-E in front of me with Withholding Amount calculated.

There doesn't seem to be a problem here since the house was built by one of the giftees and the land purchased immediately prior to construction. Good records for a change.

Thanks...

Thank you for the info. Very helpful.

Yes it is a 2014 transaction.

Have a client that lives here in Washington State but have a piece of property in CA that was given them by a relative. It is being sold so I can only assume that there would be a CA tax return that needs to be done. Is there anyone out there that would like to either help me or have me refer them to you for the CA portion? They will be here in about an hour. Thanks Karen

I don't know what I will do to the next person who tells me that their social security disability is not taxable because their attorney told them so. Why O Why

My doctor suggested I read a book about "Preventing Alzheimers". I just laughed at him and said I was beyond the prevention stage and needed a book on "Managing Alzheimers".

Thank you all. I have more questions to ask TP and a place to start my research. It is looking like a HoH situation.

Non resident alien is a student (Masters Program)in the Republic of Georgia and he is a citizen of Nigeria. My client found this guy on the internet and she went to the Republic of Georgia and married him, Upon her return to the US she found out she was pregnant. She has had the child and now is trying to figure out how to do her taxes. He does not have an ITIN and he doesn't have any income and I don't know what to tell her. I did suggest to go to someone who has experience in this type of return however I thought I would ask your opinion and maybe get some reference sources. Thanks Karen

@cbslee Thanks, got it. @kcjenkins-no interest on K-1, trying to use Ordinary income as investment income (Line 1, K-1) as investment income for the 4952. Sent you a PM. Thanks to you both Karen

OK, I am suppose to be smarter than the software but this is a subject I am not experienced in and need some help. I have a client that is buying property and building that has a business and is operated by the client. The business is a Sub S Corp and he receives K-1 and W-2 wages from the business. He has investment interest expense for the property and building. He also has investment income from the K-1 for the same business. I can use his K-1 ordinary income from 1120S in calulating his net investment income for Line 4a, Part II, Form 4952. Yes? The MAX software is not picking up the income (from K-1) on Form 4952 Line 4a. Need to override? Missed a check box? I read and read and read and all I do is fall asleep. Thanks for your help Karen

Yes, one person shop. I have had "assistants" before but it just doesn't work out. I have already fired some PITA clients and had a very long talk with myself and I'm committed to staying for as long as I need to. CPE's to be completed this weekend. Hate it when I don't get my way. Karen

I was reading the US and Switzerland tax treaty and it looks like it is not taxable. Also reading the link you (Taxed) sent leads me to believe it is not taxable. Thank you so much Karen

One time payment....death benefit...not the owner of the annuities Thanks for your responses. Karen

Would someone be so kind as to throw a cite at me or tell me where to begin to research... TP is the beneficiary of 4 Swiss annuities and has received $56,000. (He and his wife went to Switzerland to get the paperwork completed.) Death benefits. transferred from Swiss bank to TP account via wire I don't even know how to begin to report this on TP 1040....no 1099R Thank you Karen

I have considered a business broker however there is a wildcard, I can't move my mother. I take care of her and she is so far into her dementia that moving would not be beneficial. So I get to hang in here until she passes, sounds so morbid. That's life. Karen

@Margaret-not a diver but saw a documentary about squid in that area that would keep me from diving. I have no lack of business....been working year round since opening. This year was the first year I closed for 2 full weeks since opening. This is a very small town, I've been here for 20 years and in the middle of a divorce, I'm 60 and ready to move on. Been a very traumatic and emotional 2 years and change needs to happen before I book into a psych ward somewhere.

Yes, the buyer backed out. I am the only independent in a 75 mile radius. H&R Block is here but they are so expensive. 3 tax preparers hung it up with RTRP and closed before this last tax season. I went ahead and did the RTRP thing last year and now am back in the game. I do get the letters from HR Block and calls from Liberty Tax but just ignore them. Talked with a fellow that sold his business to H&R Block and the contract was that he stayed for 2 years working on commission with a base of $50,000. Was wanting to relocate but looks like that isn't going to happen. Signed up for CPE's. Still doing 2012 taxes but managed to get a trip to Cabo in this year.

UNSOLD

SOLD....

Happy Birthday

Thank you

I have a client that came in with his social security card that has "valid for work only" and an ITIN. He wanted me to use his social security number and not his ITIN. He has a brother and sister living with him that he is putting through college and they have ITINs. I think I use the ITIN on the tax return and not his social security number. I don't do very many of these and have sent some away because of conflicting (invalid) numbers. Which is it? Thanks Karen

That makes sense. Thanks