Randall

How does this work? I assumed you sold the practice, with maybe a retention amount to cover clients who don't go with the buyer. But would you turn over all tax info upfront? I was thinking you would do that by individual client once that client came to the new accountant (then getting his permission), etc. Anyone done this? I'm not looking to do this anytime soon, but it's something to think about down the road.

They all seem to be under the 'efile' section.

What's with the topics listed? Hopefully the moderators are working on this.

Lately when I attempt to open my ATX2007 program, it doesn't open, nothing. When I restart the computer, I get a message of a program needing to close down. When I click end task for this and the computer restarts, I can open ATX2007. The program hanging things up is labeled ccSvcHst. Anyone know anything about this? This usually happens after I've been online. Also, it doesn't interfere with opening prior year ATX programs. Thanks.

I agree with KC. I like to buy a new computer BEFORE my old one gets too outdated so I can still use the old one for backup. And the new HDs have so much more space, you have plenty of room to keep the old files even if you never need them. Better safe than sorry.

That's my feeling too. I upgrade QB and Peachtree every year. But it's not necessary for clients. I do try to get them to upgrade about every 3rd year though.

If the client is sending you an accountant's copy, you can send back your changes. This works for one previous QB version. In other words if the client is using QB2007 and you are using QB2008, you can still send the client your changes. But this only works back one year in QB versions.

I'm not familiar with subpoenas, but can an attorney just issue one on his own? Doesn't it have to have some court authority?

Is it just me or is this an ATX quirk? With the 4562 print options set to print the form and statements: Using the print menu, the 4562 depreciation statement only prints the depreciation portion but not the amortization portion. Using the print page button with the statement open, both sections print. I noticed this before, but just now on a client with no depreciation but amortization, nothing printed using the print menu, but the statement printed using the print page button. Anyone else notice this?

Was that Gandolf or Mr. Frodo?

How do you print a single post without having to print the whole thread?

I didn't watch the show much but I know that one guy played in the original Battlestar Galactica series. I don't remember his name.

Thanks. I'm not going to be so bold to try to put one together, but this gives me some comparative info. I don't mind paying the extra for someone else to build it but I've been wondering about the cost of things. Maybe some day, I'll try to do this.

I know you built this yourself, but what was your cost? I just wanted to get a general comparison of paying someone else to build something similar.

I know you can use the Form 6198 to make it work in ATX. But I didn't think Form 6198 was really for basis limitations. I always understood there were three things to determine loss deductibility, basis limitation, at risk limitation and passive loss limitation. I've always inputed zero on the 1040 K-1 input sheet for ordinary income/loss when there was basis limitation. From some PPC references I have, zero is shown on Sch E and a statement is attached showing the K-1 loss and basis limitation and the amount of the loss to carry forward to next year. This is how I've done it in the past with paper returns. In recent years with more efiling, I've included that 'statement' in the preparers notes section of the efile info so it would 'hopefully' go with the efiled info. If income is shown in a future year on the K-1, I input that year's income on the 1040 K-1 input sheet, make a 2nd column for the same company and input the loss carried forward with the 'Prior Year Loss' description. This makes the proper netting flow thru to the Sch E and shows it on a separate line. I think this is an area where ATX doesn't handle it correctly and like others have said, you can use 6198 and the bottom of the 1040 K-1 input sheet to make it work inputing the loss on the K-1 worksheet and having zero flow thru to Sch E. But I wonder is this is technically correct?

As a side question. I've heard of the one party connecting and viewing your computer. I've wondered just how that works. Do both parties have to have special software? Does the other party have complete access to everything on your computer? Are they limited to just the OS or can you make restrictions? I suppose there's a degree of trust necessary here? Does anyone have a brief, layman's explanation?

Are you taking the Bat Cave with you?

Fresno. Isn't that the home of Jim Maloney?

If I net the S179 amount against the income amount on the line for SE earnings on the K1 input sheet, Sch E, page 2 continues to flow correctly, and the net amount carries to the SE schedule. However, I then have to override the S179 deduction on the separate line of the Sch SE Bus Income worksheet or there will be a double deduction for SE purposes. Doing this allows the efile to be created with no error messages. Anyone see any problem with this? The original efile rejection message warned that the IRS could adjust the tax amount due/refund and said to paper file the return. But if Sch E shows income, S179 amounts, and the SE schedule shows a net of these amounts, would IRS automatically recalculate for any reason?

I liked up to the last part. I thought the ending was vague. The writer seemed to paint himself in a corner.

Client has SE tax from 1065 K1 income and Sec 179 deduction. ATX is saying efile can't be done because of the Bus Inc Statment for line 2 on SE Sch. ATX message says I need to paper file. Has anyone else encountered this?

I remember M5, the computer that was supposed to replace Kirk as commander of the Enterprise. It didn't work and Kirk's job was saved.

And I thought you were talking about TV shows. CSI, Vegas, NY, Miami? I'm waiting for CSI: Timbuktu.

I don't have a cite, but I think you have a little leeway in determining the date. The final year can be a short year but even looking at the quoted material he gave you, you have a reasonable amount of time for wrapping up. Just list the beginning and ending dates for the final year on the return. Also, the final year ending in 2008 can be prepared using the 2007 forms, but you have to make sure it's according to any tax law updates for 2008. Ha. Fun, huh?

Joel, are you in the Bat Cave in this picture?