TAXMAN

Someone check me on this. Final 1041 fiscal year beginning in 2017 ending in 2018 has excess deductions on termination. Passes this to bene. who can then deduct these in 2018 on sch A line 16. I read that they can even though the year began in 2017. Thanks for the help.

Hey Jack, I have 4.7.2 Is this right?

Off to a good start. Questions everywhere. Has anyone that ordered the tax book from ATX for 2018 received it yet?

I may have jumped the gun. It smells like in 2018 we will be ok, 2019 need the logs? I need some help here please.

I guess the tp that has 1 rental, making profit from it is out of luck unless he can prove he spent 250Hrs on it doing something. That's about 3/4 of an hour every day?

Nope. Client had a bad experience with mailing stuff to IRS a year back and did not want to mail it in. I don't sign anything for anybody. It was could I legally transmit a signed form after tp death?

Daughter only child only heir. Will left everything to daughter. Daughter was joint owner of checking account also. I have seen banks deposit these checks as long as not being cashed out. That will be daughter's problem. My concern is whether I can submit return when IRS turns us on.

I have an interesting question. TP came in and signed the efile form 8879 (Have to update the submission #'s but nothing else changes) early December for a 2017 return.(refund less than $150.00) TP said wait until they turn us back on then transmit as tp did not want to mail the return. Now however tp has passed away. SO do I convert the return and prepare it to be mailed or do I transmit it on?(seems this may be a form of stockpiling?) I believe this return has to be mailed just to CYA.

So what is the opinion. TP has one rental. Provides no service.NO QBI then.

Last word I saw from VA which deals with Schedule A, They now have their own A but still sticking to what did you do on Federal. Awful lot of clients and TP's going to be real surprised when their state tax bill goes up.

You know sometimes I have clients that the lender wants to see that paper copy and will accept nothing short. I have an attorney that provides all closings on a cd in pdf format. When I ask can I see a copy they hand me the disk an ask when you find it print me a copy also. So I guess I may need some more paper. BTY I used to do the calculator spin also. Just my 2 Cents worth.

In my neck of the woods the more paper the client sees the more likely they are to swallow the increase in cost. I did try duplex printing but wasn't getting the result I wanted. My printer could spit out 2 pages quicker than it could duplex a page. Go figure. It appears about the same amount of toner just more paper. The client doesn't care if its on 92 or 104 brightness.

In my test print 1040 page 1 half page,1040 page 2 half page, schedule 1, 3/4 page, schedule 4 almost 1/2 page, schedule 6, 1/4 page. I was hoping ATX would combine a bunch of this into 1 page. This is assuming that you are not duplexing. It would seem to me the keep pricing up where it needs to be the more pages a client sees the happier he is.

I test printed a return yesterday. Half pages, third pages 6 schedules. What a waste of paper. My cohort said same amount of toner just more paper. Add in QBI worksheets and forms more pages. I agree no new ones this year. Just my 2 cents

Has anyone had much success in cloning an old HD to the newer ssd's? my guru says move the data over then reinstall the programs. Seems like a lot of work.

I am hoping in a year or 2 if I can get my daughter up to speed. Am curious about one thing. How did you price it? Like 100% of gross plus equip or some other way. Anyway Congrats in order. Now to get to those other projects???? Stay and visit with us once in while. Years of experience can be useful to someone just coming on.

My daughter who will taking over soon so I can retire is in a learning curve. She has not learned where all the different boards are and how they post items.

Just reread this . TP DOES have a liability in all those years. My typist put this in b4 I could read it. Same problem tho. TP would have owed some tax. Posted b4 I could edit.

Ok I need help. TP inherited savings bonds from spouse.22 years ago. TP deceased in 2018. I found these as executor buried in bottom of drawer. Maturity dates 1998-2007. Interest never reported. When I look at the old returns for all those years which I have tp has a Zero liability(filed to get mim wh back). If I add in the interest for each of those years TP still has no liability. Now that I am cashing in all those bonds what MUST or Should I do with 33k of interest? Your thoughts?

Judy, I sent a PM.

Maybe we could with Erics help establish a buy and sell unit for us that would like to get rid of some stuff that still has life?

Also If I remember right it is also the last time you can efile 2015 returns.

My thought would be are those 2018 forms even available yet as the k-1 instructions do not have the correct where to put #'s on the 2018 returns. I have been trying to figure this out as I too have a short year I would love to close and issue those k-1's. Thoughts????

Any one know how to look on Town of Concord MA site to find Real estate taxes paid for 2017?

So if my PY person has govt pens 34k and ss pension 11k while in co the best they can do is 24k?