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Matthew WaitingOnWA2BaCPA

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About Matthew WaitingOnWA2BaCPA

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  1. One thing seems clear... The IRS doesn't seem to prioritize the 8949 reporting, probably because every preparer is doing something different. Next year it'll probably be at the top of their list
  2. Thanks Judy, that's understandable since everyone has a job to do. I do appreciate you pointing me to the right place though! I've noticed you always try to be as thorough and detailed as possible. When I bring it up to my employer, I won't be using old memories from 6 years ago 8949 Pg 3 - Box A (TIP) If you don't need to make any adjustments to the basis or type of gain or (loss) reported to you on Form 1099-B (or substitute statement) or to your gain or (loss) for any transactions for which basis has been reported to the IRS (normally reported on Form 8949 with box
  3. I tried searching online and in the forum here first but didn't see it address WITH a reference to the authority. When reporting ST/LT (Code A/D) Stock sales with a Wash reported, do you need to attach the statement and note code MW (alphabetically) to indicate multiple stocks with wash? I thought my previous employer did attach the wash sales, but my current one is thinking otherwise. Granted, the previous employer was back in 13 when the changes were pushed down. The strongest argument I've seen is that Code W puts it on the 8949 which should be the itemized sales, not grouped
  4. Good perspective! Being new parents working from home most of this year, I can attest it's nice that my in-laws are happy to visit and babysit but very respectful of our space. I'd say we spend more time with them because of their respect than the alternative! I'm a little lost on the investment piece since they have to pay the money for the solar panel investment somehow. The return on investment is what kills it for me. Everyone finds value in different places though... such as my fishing and camping hobby. Let's not talk about that though
  5. Solar Panels are a fail in almost every context I looked at, though Businesses can turn them into only a small fail in JUST the right scenario. Washington also offers a state incentive (reduced or eliminated if system is over 12kwh and is a reduced incentive amount the longer you put off installation) that pays per watt. Washington also encourages but doesn't require the utilities to refund the production.... what isn't told to you, is they credit your account, which does not roll over in February (the months you actually need to use it). If you figure the following in, i
  6. The general chat on here seems to align with what I was thinking. I'm not sure how you go to that credit. 3,727 in edu expenses... (2000*100%) + (1727*25%) = 2,432 Isn't it treated as earned income for purposes of determining the standard deduction but unearned income with respect to caluclating the tax. Do the trust tax rates come into play? https://www.thetaxadviser.com/issues/2018/may/counterintuitive-tax-planning-increasing-taxable-scholarship-income-reduce-taxes.html One problem is the article references §1.117-6(h) which I couldn’t find (it goes from 1.117-5 to
  7. I'm not I helped, (blind leading the blind scenario) but you are certainly welcome if that was at me
  8. I'm not sure if it's as complicated as I thought, or if I made it so complicated nobody's willing to touch the mess I made above Any thoughts are appreciated
  9. Another irony is that if you have a surprise meeting with a client and pull up the app on your taskbar to close out of the current TR to open theirs, ATX keeps showing all of your clients while you log in.
  10. Side note to the log-ins. ATX didn't have user input when they applied this requirement. When you are in a TR and need to log in due to inactivity, but have forgotten your password... do not lock yourself out. When the admin resets your account, you have to restart ATX, which requires closing without saving (from what I saw).
  11. This is a separate issue, but the health insurance can be paid of out pocket by the shareholder and reimbursed by the company. At least that how it was the last time I read up on it.
  12. If a 1099 is issued incorrectly isn't the responsibility on the recipient to reach out to the issuer to fix it?
  13. If cryptocurrency is sold, then there would be gains to be reported on 8949 to pass to Sch D as I remember it. In the last CPE I took discussing this they argued your kids would technically have this if they played world of warcraft. Oh the pits the IRS keeps digging. At some point we'll all just join the vanlife movement and turbotax will be the only option
  14. I would say employee is the safe route to go, but you might look at these avenues before defaulting to the easy route. Does the employer have control of when that day off is taken, or how many are taken? Is PTO offered? Is there a minimum hours worked expectation? How is the pay structured? Is it billed for hours worked as a service, or as fees earned for sales.... or is just for hours "on the clock"?
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