Randall

The programmer was probably thinking 2020 when he put in the day.

Yes Lion, that's the way I understand it. 1099R will show full distribution so as to become part of client's RMD. Then on the return, back it out of taxable with the QCD code. Keep receipts from charity. Client should also have monthly statement from broker showing distribution directly to charity. Distributions must be sent directly to charity, not passing thru the hands of client.

I tend to agree with Yardley. Pacun, will they ask questions, but otherwise, wouldn't the dependent still qualify for the Medicare?

Does that stop her medicare benefits?

I noticed on the Ky letter options, the due date was set for April 20. That must have been set originally because I didn't set it. I changed it to April 15 and the letters are correct now.

I just noticed my letters are saying Kentucky tax should be paid by April 20. I don't know if I missed something about Ky delaying payment date or if it's a glitch.

We haven't had a program update in a long time. A lot of Forms updates. It seems in the past we had several program updates throughout the tax season. Anyone know why it's different this year?

Thanks. I found it.

Client received a letter from IRS assigning him an Identity Protection PIN because of past identity theft issue. Where do I enter this PIN in ATX? I've looked on the EF Info form and can't find it.

Looking at some of this, client is a US S corporation. It appears that a corporation would have to file the T2. I didn't see anything about an income amount threshold for filing. I would like to think my client would not be required to file but I'd like to see some reference for supporting that.

Thanks

Client (US) performed work in Canada. Received a form T4A-NR showing income and 15% tax withheld. Is there a requirement to file a return with Canada. I looked on their website and it seems there is no need for my client to file a Canada return unless he would expect a refund.

Thanks for comments.

Any techies notice this?

Thanks.

I use Abby's method. I mark amount zero and print vouchers without amount. I do an estimate outside ATX and have a Word memo for them. They can then vary the estimated payment amounts during the year.

I recently downloaded a Windows update. It took a long time. It seems like a major update. My system is now showing Version 1909, OS Build 18363.657. So far, I don't seem to have any problems with ATX. Now I'm getting a notice for another update, something to do with net frame stuff. I put that update on a pause for 7 days. I remember some years ago having problems with ATX around a net something or other update. Sorry I'm not a techie. Anyone else do the Windows update and the follow-up update regarding the net frame stuff? And anyone having problems? I'd hate to experience problems with ATX at this time of year.

I'm still not convinced life insurance policy death proceeds would be taxable (not talking about the 706 assets). Yes on retirement account, annuities, even some other life insurance contracts. But if the beneficiary is an individual, the death payout would not be taxable. If you put the amount on the 1041, deducted it as a distribution to the estate beneficiaries, it would have to flow thru on their K-1 schedules as ordinary income. I don't think this should be treated as ordinary income. Anyone have any references specifically to death proceeds of a life insurance policy paid to an estate. Yes I think we all agree you should not name the estate as beneficiary. But people do these things and we learn about it afterward and have to sort it out.

Mine went thru ok.

Max, my question has to do with income tax, not estate tax. Yes, it's an asset included in the estate. But are the proceeds of a life insurance policy considered income to the estate and subject to the estate income tax (Form 1041). I know IRA and other retirement income is subject to the income tax on the estate but I'm wondering about life insurance proceeds.

Did you have to call ATX to allow the amended 1120S to go thru? I know when you have a part year final return, it shows as two returns under the same EIN in the same year (software year) and you have to call ATX first to allow it to go thru.

Can we efile an amended 1120S? ATX seems to allow an efile to be created. I would assume I would have to call ATX first to allow a 2nd return under the EIN to go thru.

Are you saying if the beneficiary is an estate, the proceeds are taxable on 1041?

In the K1 input form, go to the detail tab. You enter the two in separate columns. Same entity but you enter on two columns as if there are two entities.

I'm not sure what you're asking.