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Randall

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Posts posted by Randall

  1. Do we deduct 7.5% of AGI from the amount of IRA distributions used for medical expenses?  Or do other medical expenses such as health ins premiums offset some or all of the 7.5%.    In other words if client took out $12,000 from IRA, used $4000 for medical expense and AGI is $3500, does only $500 escape the 10% penalty?  If client paid $2000 health ins premiums, does that count as part of the 7.5% and say $4000 minus $1500 or $2500 escape the 10% penalty?

     

  2. ATX shuts down every so often.  It actually gives you a warning to close the program.  I just close and reopen.  It's a hassle.  I just assume with all these programs, they just get overloaded at times.  Too many "if, then" statements criss-crossing themselves.

    • Like 1
  3. Client moved to MO mid-year.  Two employers, two W2s, two states.  I don't see any place on the MO return to deduct income for the out of state residency.  It fills in the total Federal.  I'm using ATX.  Seems there is only one form for all.  For now, I put it in the Other Deductions section with a description Out of State Income.  Any help on this?  Most states have a page or worksheet to input that state's income.

  4. 4 hours ago, joanmcq said:

    I wish.  All of mine are rejecting now.  I have tried everything.  My case was supposed to be moved up to the next level of techs but I did not get a call back today.  If I don't get one tomorrow I will scream.

    Did you try this from a post on another topic?  This worked for me.

    click "Support" and "About"

    mine says Version 23.1.8752.41567

    I used the recommended resolution for EFC Reject 38:

    close return, click Support, then Customer Service Utilities, select Refresh App Configurations

    this has apparently not fixed it for everyone, according to what I'm seeing on Facebook

     

    • Like 2
  5. When inputting info from Box 9c on a K1 Schedule, ATX input sheet says this in not linked.  But when I go to Sch D, for the line 19 worksheet, it does appear it is linked.  The amount is already there.  Anyone know about this or experience this?  Just making sure I'm not missing something.

     

  6. 47 minutes ago, BrewOne said:

    click "Support" and "About"

    mine says Version 23.1.8752.41567

    I used the recommended resolution for EFC Reject 38:

    close return, click Support, then Customer Service Utilities, select Refresh App Configurations

    this has apparently not fixed it for everyone, according to what I'm seeing on Facebook

    Thanks BrewOne.  That worked.

  7. I'm having that same problem.  There's no update.  Message says version 23.24, minimum version required 23.25.  Is there a way to see what version I have?

  8. 10 hours ago, jasdlm said:

    Okay ... this is crass, and I apologize in advance, but put in a date of death in the current year for the person you don't want the vouchers SSN in, and the vouchers will show the surviving spouse's SSN; print the vouchers, and then delete the pretend DOD.  Hopefully that's not bad juju.

     

     

    Good idea jasdlm.  I just had that situation in real life.  Husband died.  I wasn't thinking about the ES vouchers until they printed out with just the spouse name.  I was wondering how I was going to get them only in her name but the program did it automatically.  Of course my DOD was real.

    • Like 2
  9. I've been winding down the past few years.  After April 15, I've been on slacker time.  I was trying to wind down during the busy season but it hasn't been working.  Only a month left.  But who's counting, besides me.

    • Like 1
    • Haha 1
  10. When I set up an amended 2022 return, and create the efile, both 1040 and 1040X show up as efiled items.  Is that correct (ATX)?  When I go to create the efile, only the 1040 and state form show up.  For  Ky now, there is no separate amended form, only a box to check to say it is an amended form.  Does the IRS get both the 1040 (new amended one) and the 1040X?

  11. I'm seeing a lot of employers reorgainizing or changing names or whatever.  Even if the client didn't change jobs, they would get two W2s.  I think this may have happened with my client.  I was just a little surprised it would be this long for something like that to just now be caught by IRS.

     

  12. How long does it take for the IRS to match W2s?  Got a call from a client.  He received a letter from IRS about his 2022 return.  Apparently IRS has more W2 income than we showed on the return.  Spouse had 2 W2s but apparently there is another.  He's going to try to get all the W2s.  But it seems the IRS should have matched this up a long time ago.

  13. There never seems to be any scholarship documentation as to what the scholarship money is allowed for.  I have thought in the past if the scholarship allows to cover other things such as room and board and other living expenses, then it wasn't income.  But the scholarship document must say so.  Is there documentation about various scholarships?

  14. Client went on Medicare during the year.  Both he and spouse were on the market place for health insurance.  Wife remained on market place for the whole year.  They received two Forms 1095-A.  One form shows both thru October.  The second form shows only one person for the last three months.  Do I combine these on one Form 8962 or do I create two Forms 8962?

  15. 7 hours ago, TaxCPANY said:

    Yes, ANY 12-consecutive-month period in which a taxpayer overseas drops by the U.S. for no more than 35 days can be used to qualify for the Physical Presence Test (PPT).  For instance, their second bout of PPT might even carry into 2024 for as many of the 35-day limit as hadn't been used during 2023.  E.g., suppose your client stayed overseas *every day* from Jan 1, 2023 through Nov 30, 2023.  They not only could claim 2023's entire amount of earned-income (AND housing) exclusion(s), but also the first four day's worth of 2024's exclusion amounts.
    Not only can consecutive years contain overlapping PPT periods, but the unused 35-day limit before AND after PPTs can be used to maximize claimable exclusion amounts.  Reg. Sec. 1.911-3(d)(3).

    Thanks for the reference.

     

  16. That's what I was thinking.  Page 20 of Pub 54 gives an example.  Someone on another discussion group is saying he can only exclude income from Jan thru April of the 2nd year.  That doesn't make sense.  He excluded income from April to Dec 2022.  And was over there until Dec 2023.  Why couldn't he exclude income from Jan thru Nov 2023.  If he qualifies and you use the overlapping 12 month continuous year to qualify each tax year (both 2022 and 2023).

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