TAXMAN

Gail any word from how va expects to handle all this mess? I have not seen anything yet. A lot of my still to come clients got word of the extension and are afraid to come out. I have a few in nursing homes that I can't get into. Are you still running?(close doors)

That's the way I did it. Charge a lot dang right

We just heard that the governor posted that all non critical business should shut down. We can even get into town offices and some of those do not have tax records on line available. From what I have read you still need to file the extension to stay ahead. Some of my nursing home clients still don't have all their stuff yet. Are we to assume just do blanket extensions and guess at numbers what ever they may be? Everybody in our office has some kind of bug and are not coming near the office. What to do?

I just picked up 5 returns from 2018. I guess the push is on to get those out quick. Anyone heard when? What happens to those that meet the rules of not required to file? Any body heard yet.

I just looked at a deceased TP's 1099b. Some sales are 2 to 5 months after death and some are have acquired dates 1 to 3 months after death. I also spotted some dividends showing up 3 to 4 months after death. How to get this stuff in the software without it bouncing all over the place, and to makes sure we get a match to the 1099b which IRS will be looking for is a nightmare. Anyone have any easy solutions to this, I am all ears and eyes. Thanks

Extra food for thought. With so much stuff being forced to internet options as my computer son said "the hackers aint even started yet"

Thank you. I think now I can move on. The mess the deceased left us with.

Judy I may not understand. TP was taking IRA up to date of death(92 age). her prior 8606 line 2 amount was 3000. When I get to line 6 is where I am stuck There would be none to tp since it asking for 2019 value. the IRA has gone to heirs. What am I not seeing?

Thank you, Therefore it would appear to FMV at DOD for line of that form.

Help as I seem to have a mind blank. form 8606 line 6. TP still had basis in nondeductible IRA. TP deceased in middle of 2019 and IRA went to 3 heirs who set up beneficiary IRA's. THe question is for line 6 do I show FMV of IRA at death and pass the remainder of unused basis to heirs? I do not know why I can't get this.

I found this to be true. On the worksheet it calculated it correctly to what I knew it should be. On the 8949 it however did not show correctly' Had to back force the worksheet to get it to come out right on the 8949 and the schedule d.

Have had this happen once till I caught on. Strange that ATX makes you get a reject b-4 you can fix it. I tried deleting it first but it just puts back the old number.

I keep getting error my health ins does not match whats on front of return for the new form worksheet. Rechecked that HE is correct. put it in the worksheet computations. run error check and itbsays does not match. Anyone else see this in the ATX worksheet. Form is the new 8965

That was the way I read the bulletin. Lets us va people know whats going on please. By the way several of my returns went through with the amounts above the cap but still subtract out sales tax and withholding tax.

Just remember how you do the allocations and the projected cost of a second return plus the time spent dividing up deductions.

Just moving back up to see if anyone has had this problem?

It would appear from the original post that there would be no earnings. Thus no penalty or tax.

Hey Catherine where do you find these?

In ATX I am getting a red error message that the form 760-c for Virginia must be created as a PDF and attached. No Exceptions to penalty. Penalty seems to calculate correctly. Anyone else run into this yet?

From a couple of returns played with you don't get either one.

Can an Estate filing a 1041 deduct specific bequeaths as defined in the will. Can a 1041 take a charitable deduction for money paid from corpus? I am for some reason drawing a dumb blank. There was no 706 required to be filed.

Were we supposed to get The Taxbook with our renewal this year? Anybody know?

It seems to me that one of the states required it. Either wv or pa when efiling.

Yup. Just wave your W-2 in front of your screen and your return is magically done. Go figure.

Go figure???? But they won't reject a return because of it not being there.