Randall

Is there a delay in efiling at ATX? I have several from yesterday that still shows sent to EFC, not transmitted to agency. I didn't see a notice on ATX website.

My taxable amounts have flowed thru ok too. But sometimes gross amounts are smaller than taxable amounts. Jasdlm, are you saying that's the way it's supposed to be? If gross and taxable amounts are the same, line 4a is blank. But when gross is higher than taxable, and with multiple 1099Rs, some IRA, some not, that's when I have the same situation as Christian.

Or on page 4, Schedule K, line 17d, click in the gray box. Takes you to the same worksheet.

For ATX: LLC 2 members. Both commercial and residential rental activity. My understanding is you can aggregate the residential properties together and the commercial properties together but you cannot aggregate the residential with the commercial. So I will have two activities. On the Sch K, line 20c input sheet, there is one line for code z. Should I type in on the lines below separate descriptive info for the two activities? This will show Code AH and populate in the K-1 Sch Statement for each member. I don't see a way to have more than one line for more than one activity.

If a grantor trust, shouldn't the income been reported in the grantor's ssn (child or parent)? Since the income was reported in the trust EIN, shouldn't the income be reported on the K-1 schedule in the beneficiary's ssn?

Does an extension MFJ cover both spouses if they decide to actually file MFS?

Yes, him and everyone else in the tech business. Too much turnover, new versions, paying for it over and over. I think all updates should be free for at least 5 years. QB can only go back one version for Accountants Copy. A new version every year. Sheesh. More whistles and bells that most people don't need. An army of programmers thinking up more and more stuff.

None so far.

The new standard deduction helps out a lot on this. But in Ky, charitable deductions still count, ugh.

The 8606 aside, the former two separate lines for IRAs and non-IRAs are now combined into one line. If gross and taxable amounts are the same, no problem. But if different, any 1099R marked IRA will throw off the total for line 4a. I just unmark them all as being 'IRA'.

Again. If I unmark the non-IRAs and also unmark the IRA as an IRA, then correct gross amount flows to line 4a and correct taxable amount flows to 4b. And my non-IRA using Simplified Method doesn't show up as a warning. So I figured a work around in ATX but the one IRA 1099R is not marked as an IRA. Does anyone see that as a problem?

Another wrinkle. I used the simplified method for one of my 1099Rs (non IRA). By marking it an IRA in order to have the total gross amount flow to line 4a, I now get a red letter notice that IRAs aren't eligible for the simplified method.

This still seems to be a problem in ATX. I think lIne 4a should be higher than 4b if not all is taxable. If I mark all the 1099R amounts as IRA, it flows to line 4a properly, with 4a higher than 4b. Anyone else still having this problem? Is it ok to mark non-IRA 1099Rs as IRA just to get the amounts correct on 4a and 4b?

I think it is a slam dunk decision. Problems yes, as you said latest update fixed. Buying W7 on new computer is absurd. Hanging on with it on an old computer is ok. Buying new with W7, sheesh. All the techies in the world aren't going to outthink Microsoft.

Win 10. Get the latest.

It doesn't happen all the time.

I'm getting two Schedules A when I print (ATX). One has the numbers and one has all blanks. Anyone else have this happening?

I'm not sure why it was loaded, but I assume it was in the 1120S return 'thinking' the S corp was a partner in a partnership and needed the K-1 input.

Working on a 1120S. On Sch K, clicked in the gray area and went to popup worksheet for 199A entries. In the column for service activities, there was another jump to arrow. When I clicked on it, ATX downloaded the individual 1040 K-1 input sheet into my 1120S return. But it was the K-1 input sheet for 1065, not 1120S. I don't know why I would have this in the 1120S return, even if it was the K-1 input sheet from 1120S. Anyone else experience this?

I didn't know IRS accepts in paper form, both on same page. It's still easier for me to see page two on a page two. And not having to explain to clients. Maybe it's just a mental thing.

I really don't want it. I like to print the forms as they officially are. I explain to the client the new forms and that the lower half is supposed to be blank. I'm still trying to get to know where everything is and what Schedule ties in where. Printing page 1 & 2 on the same page will only confuse me more.

I figured out how ATX is calculating the taxable portion of the repayment. But the 1120S K-1 basis statement will be off from the 1040 basis worksheet. The 1120S is showing the entire amount of the repayment reducing basis and the 1040 is only showing the nontaxable portion as reducing basis. Remaining loan basis is greater on the 1040 worksheet than on the 1120S basis statement. Is this difference something I am going to have to live with? What if they go to someone else in the future or I retire (not too far off). I would like the two to say the same thing.

Probably a good idea. For this one, I inherited it.

Wow, jklcpa. Thanks.

S Corp shareholder paid part of his shareholder loan back. Still has remaining loan basis. The 1120S K-1 basis statement shows the reduced loan basis. Loan basis was restored by profit. On the shareholder 1040 basis worksheet, part of the loan repayment is showing as reportable income. I can't determine why this doesn't match the 1120S basis statement and not show any part as taxable income. I seem to vaguely recall that loan repayment is considered done during the year while profit restores basis at the end of the year. Is this so and why ATX is calculating a part of the loan repayment as taxable? And if so, is there anywhere in ATX, I can see how this is calculated?