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Randall

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Everything posted by Randall

  1. 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).
  2. This is a different client from BBall player mentioned earlier in a post. Can the same twelve month period overlap for two tax years? Client was outside US from April 2022 to April 2023. We used that 12 month period for his 330 day period. And filed his 2022 tax return in April 2023. He remained in that country until Dec 2023. Can we use the calendar year 2023 for the 12 month period where he is out of US for 330 days. And qualify for the exclusion in 2023 also?
  3. Many of these firms are buying each other out. Clients should have two 1099s from each company in the year of merger. After that, only one, if they only have one account.
  4. Does anyone have a client playing professional basketball in a foreign country? I am getting inquiries from a person playing in Lithuania. Actually my grandniece’s husband. They went over there in midyear 2023. Will be back in US in May, 2024. I asked him to get info, documents they will provide him, etc. I’m think he may be eligible for the foreign earned income deduction first, then maybe the foreign tax credit. Just wondering what kind of documentation these foreign basketball teams provide. Is he considered an employee or a self-employed person?
  5. Yes, I did that several years back. Client had two properties, both rental and had PAL carryforwards. Sold one, but took the other out of rental to live in. Got the PAL freed up on one, but the other was taken out of service but not disposed, so the PAL carryforward on that one is still there.
  6. Me too. I looked at Drake back in 2012 (when ATX was having problems). ATX cleared it up and I stayed with them. I'll try to stick it out with them the rest of the way.
  7. But doesn't Walter Kluwer own CCH (which used to be Commerce Clearing House)?
  8. And remember if there are capital losses, you can carry them forward each year. Give a them the worksheet and let them know to retain them for future years.
  9. I probably still have them somewhere. I won't do past returns unless they are for the years I have on my current computer. When I get a new computer, I have to put the most recent year ATX program on it so I can use the rollover function. But even that's a hassle. I keep my previous computer in my office so the most recent years are available to me.
  10. I cut back years ago. I still send about 30 for people who fill them out and request them. All others just get the Eng Letter and the ATX questionnaire.
  11. My returns don't print the zeroes. But I'm not sure how I got this. I remember a few years ago setting something but I can't remember now.
  12. I put in a call, they assigned a case number. I got the response which I already knew, that the form wasn't available for efiling. I responded for them to get it on their 'to do' list. Hopefully they will get it done at least for next year. Ha.
  13. Yes, other tax programs have the Ky 741 available for efiling but not ATX.
  14. ATX does not have the availability to efile the Ky 741 (equivalent to Fed 1041). Ky accepts this form thru efiling. Other tax software programs can efile the 741. I've been trying to get ATX to make this available. Does anyone else have this problem with their state equivalent of the Fed 1041 or any other forms. It's a hassle to print out and have the client mail the state form (along with a printed copy of the Fed form).
  15. None of this should be that complicated. But on and on it goes.
  16. I have one of these. Divorce happened years ago and child is grown. I have not accepted anymore of these since. Only one or the other.
  17. That's funny. I remember those dorms with the pay phone in the middle of the floor.
  18. People wondered about ATX a few years back. Owned by Walter Kluwers now and they have TaxWise too as a smaller package. So I guess as long as they have the profitable business they'll keep it.
  19. Insurance companies should provide an annual statement showing the activity. People should save these annual statements. It's doubtful your client has that saved. You'll probably have to estimate his cost basis.
  20. The only problem with this being an election year is that the election is in November and if one party wins all, they won't be able to do anything until January, 2025, after the due date of Jan 1, 2025.
  21. Anyone dealing with this yet? Just opening it up for discussion. Seems outlandish but then what else is new?
  22. I don't mess with this stuff. Too scared. It may work for some and some may be more knowledgeable about this. But I keep away from it. I'll just have to close program when I get the message and reopen. I don't like it but oh well.
  23. It's running now. I was able to create the OH efile.
  24. I just clicked on the arrow next to 'some forms' and the Sch Credits shows up as not yet approved.
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