TAXMAN

For my SC friends. According to K-1 partnership has a SC address. It sold RE in SC. Passed the gain to Virginia resident. Does my VA resident owe SC tax on this gain. The only number on the k-1 is box 9a long term capital gain. on the SC 1065 K-1 it has the partner as a nonresident. Have not run into this b-4. Thanks for the help

Any body know what was in the bill Mr. President signed yesterday?

no Just a farmer who hasn't used a id# in about 10 years as best I can tell.

Any one know what accepted with message in CO means? I can't find it.

Found the problem. Code 101 indicated TP already had a number.

Anybody having a problem getting a FEIN#. I have tried twice in 3 days to get one. Thanks

Thank you. She is only employee and tp has never had to pay before. Had no employees to this point.

Yep and I now have all 3 big firms wanting to either buy or consolidate. I must be important.

For my VA preparers Does a farmer who employ's his spouse at less than $3000.00 a qtr owe state unemployment. I cannot seem to find. Federal I found @20k per year owes no futa so would it be safe to say no futa no va unemployment. Thanks for the help.

Because the AOC is a better credit some of my 529 earnings are being taxed on the Federal return. All money was spent on education. Question is: If I include the earnings on Federal can I subtract them out on Virginia. I believe I can. Thanks Guys.

I have 2 out in limbo land. One IRS needs to address. The other IRS said they did not received W-2 from employer. Employer said all w-2's were electronically filed. Wonder what this is all about?

Since it was not addressed in original bill as passed will it take another act of congress to say give it back? I too am waiting on what to do.

My mind is not working as it should. I have a 1099Q gross dist $5100 in box 1. Earnings in Box 2 $2100. and box 3 basis $3000. 1098T box 1 says $4100. Nothing in box 5. So the way I figure it the earnings is tax free. Leaving 2000 for possible ed credits. or do I need to make some sort of allocation? If you can please help. Thanks

me bad Thanks Gail

Tend to agree but somewhere in this old mind something that says 5 months of school or college refers to full time. Is this something that needs further exploration?

I know this but can't find it. Where in ATX does it put all these backups? I know it stores one every time you open and close a return.

I have to agree with Gail. If someone can find otherwise I am all ears.

Help me out. TP owned about 800 shrs of a ptp. All losses were suspended and carried over to next years. I have the history. TP died in 2018 and spouse inherited these shares. She did not know he even owned these because her name was never put on as a joint owner. I believe the losses go by the wayside and she picks up these shares at market value. She later on sold these.(2019) Is this the proper to handle this ?

I wonder since no one is opening mail when will they know its back?

Thank you very much.

I have a tp who failed to file his 2016 Fed and VA Return. TP filed VA extension and paid extension amount in April of 2017. TP's 2016 VA rough return indicates they will be due a refund but cannot get it ready by May 1 2020. Since VA extended to June 1 does this extend that 2016 date as well for the refund or because of the extension properly filed extend that date to Oct 15 2020. like it does on federal. VA preparers can you help me decipher this one. I am trying to put their 2016 back together based on transcripts bank stuff etc. Thanks. Charging plenty to try and rush this through.

501 C-3 FIRE DEPART usually files an extension before may 1, when the first extension would be filed. I believe they now have until July 15. They normally don't get their audited books back until August and then files return. Would you suggest filing the ext now and file return later. They will not owe any tax.

If tp decd 2019. Final return not yet filed. Gets 1200 based on 2018. There will not be a 2020 return to reconcile payment. So does this money belong to the estate of?

Wasn't there some kind of deal last year to lock in? Does this affect the 15% discount? Anybody do this?

Did I read they will still charge the interest?