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    Thank you. I have come to a conclusion(after previewing past returns that tp provided) that I do not believe in this case the spouse is entitled to the C/O.


    Farm entity was a schedule F only. No one but tp and spouse ran this farm. No income to carry back to and current year has very little income. Thank you Judy. I had found this earlier. It would appear that since they ran this as a joint ownership TP"s half would be lost but could spouse carry the other half forward?


    TP and spouse have run a farm for 30 years. Filed joint in all years. NOL's have been carried forward. TP died prior year with carryover moving forward. Spouse continues to run farm operation. Is spouse entitled to carry over to current year only half of the NOL? My research and thoughts indicates spouse may be able to carry over half. Would you agree?


    There is still hope then. I had a couple I put down Sunday Morning.


    Anyone besides me having a problem getting acks?
  6. Any one have a good site or reference to search for missing life ins policies. or if the life insurance co has changed names? Tried unclaimed funds but nothing on life ins. listed on site.
  7. The rental is to an insurance co. In atx do I imput it as 15 year property to get the 179. My state doesn't go with Bonus but does go with 179.
  8. TP owns a NONRESIDENTIAL RENTAL PROPERTY. Old heat pump blew up. Replaced with new one 4700.00. My understanding is under TCJA I can elect to expense it all 1 year or dep over 15 years?
  9. I file em to keep alive NOL's and CG losses to move forward. You never know when you might need one.
  10. I was wondering if IRS has a tracking device for all those cards that were not used and send TP a notice as if they nothing else to do? I had several that said they did not get them and then when filed 2020 IRS said they did. What a mess. I am wondering how they will handle the 1400 one when we do the 2021 return.
  11. Thanks Hahn1040. I had forgot about that rule being in place. TP still comes out way ahead. Thank you for calling that to my attention.
  12. So what you are telling me is that I get a full federal deduction of 10k on the sch a and a full 10k on Va sch a along with the va tax credit of 6500. Just sounds to good to be true. Thanks
  13. Good points made by all. I still go back to my original question Do you send it back?
  14. For my Virginia friends. TP gave stock valued at 11k to 501c3 organization that invest in Virginia Education Improvement Scholarships Tax Credit Program. Virginia give TP a tax credit of 6500.00 based on a 10k contribution. The way I see this is a federal deduction of 10k and a state deduction of 3500. Would you agree or not? Manny thanks as I have not run into this before.
  15. I have seen 5 this week where IRS has adjust and gave TP more$ even after TP said they already got it. do you send back?
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