Randall

I understand sale of a patent is a capital gain. With ATX, 1065 return, when I use disposition of asset, force 4797 Part I long term, the gain goes to 4797 Part I, line 7. But it does not flow to Sch D. How do I get it to flow to Sch D and show as long term capital gain? Do I mark the disposition in Fixed Assets as 'Do not calculate gain' and input the sale directly in the Sch D input section?

Thanks.

A client wants to bring someone in for tax return prep. He moved to US from Italy during 2015, working and with a green card status. From a quick lookup, it seems the person can claim resident alien status for the whole year of the year of arrival. Or claim part year here and part year there (dual status). His wife and two children moved here later in the year. I don't know all their info yet. I was wondering how to approach this. I have questions regarding his income while in Italy, any other income (from Italy) while he's been in US, etc. I see if claiming dual status, he cannot claim standard deduction and may not claim joint filing status unless wife is also a resident alien. I still need more info from him when he comes in but I was wondering if anyone has some heads up info and source references to point me to.

Thanks TaxCPANY, I pinned that site for quick access. Thanks Abby, I knew there was a link in the program but I was looking for it while in the Return Manager and not while in a return.

What happened to Intelliconnect? I don't see the link in ATX, within my app or on the ATX website.

I agree: DANGER!! Will Robinson.

I agree. It seems extremely ludicrous that the so called date of cancellation is several years after the events take place. Has anyone heard of any recourse one can appeal to IRS to consider the effective date of cancellation to be the earlier date or year the 1099A is issued. Seems to be one area that the IRS could issue a reg or something to rectify this.

Anyone getting any acknowledgements back yet?

ATX also has basis worksheets. I assume ProSeries would have something like this. It's added to the return as a separate form in ATX.

2013 return shows owing tax approx. $2500. 2014 would be the same but a $10,000 ES payment was made so about a $7500 refund would be due for 2014. My approach was not to send 2013 payment, wait for IRS to process 2014 and reduce the refund for 2013 tax owed. I was going to have 2014 carried forward to 2015 because 2015 results will be similar. Anyone see a problem with this approach?

I do the same.

Wow, hadn't heard that until now.

We haven't heard back from Mr Lenore.

I have one, over 65 with an adult disabled son.

Do you have their birthdate entered?

Thanks all, especially Bart. Ky is due 1/31. I just like to get them done by 1/31 and not have that 'to do' hanging around until 2/28. Sometimes there's a need for a change. It's not that often.

If a W2 correction has only a state amount change, do we still submit a W3c and W2c to SSA?

I'm not too interested in the old guys doing new music or singing their old stuff. I'd rather listed to the original recordings. And look for some new groups like Seether, Breaking Benjamin and Dishwalla.

I'm surprised so many have lasted this long. Most of them lived in the fast lane in their early years. To quote Neil Young, 'the damage done'.

Glenn Frey, now Paul Kantner.

Jack, irs.gov under minimum essential coverage lists Medicare Part A.

Some have mentioned using e signature services. How does it work? How often do you use it? What circumstances? Other then 8879s (for the other spouse who doesn't come in), I'm wondering how often I would use it. I currently have a ShareFile account and they called the other day offering this service. Supposedly is good for legal documents, etc.

As a side question, does having Medicare Part A but not Part B satisfy the minimum essential coverage requirement? Part A would be free and not show up on SSA-1099.

So far so good here.

Just to verify. S corp. Two shareholders/employees, husband and wife. No other employees. It is my understanding that they are treated as one employee and therefore exempt from ACA. Treatment of their health insurance premiums as in past. Box 1 on W2, not in Boxes 3 & 5. Above line deduction on personal 1040.