TAXMAN

Partner ship pays health insurance for partner(1065). Is being included in income on Sch e and a deduction on front of 1040. Why would it also be subject to SS tax? My head won't wrap around this.

Lets get back to the Maryland thing. I do 7 family returns in Maryland. Collect no fees. Am I supposed to pay Maryland $100 and be tested for these 7 returns?

Does he partner owe se tax on the health ins? I think not but it is being included in guaranteed payments.

Spouse deceased in dec 2012. Husband receives 1099r in 2013 for left over pension paid out with Fed and state withholding on it in the deceased SS number. Form is from State pension and will not change or correct. I think this income should be reported by the husband as he received it but how do I get credit for the withholding? Need help on this one.

TP been farming 10 years. Sells farm. Has a cg of the farm land on line 13 and a large 4797 gain on line 14 and a small loss on farm line 18. I know I cannot use the cg from line 13 on Sch J but can I use line 14 on schedule J. It looks like I can since this is ordinary income. What do you think?

I have about 50 of the most gawd awful returns in the hopper. No way to be done. I guess I will work on the other 35 that came in across the weekend. Not even sure to get those done but for extension I have to put a good guess in and send a little extra incase I missed it. Going home to have a beer and watch whats her name. Oh kelly. Did you know that 5 o-clock comes twice a day? Rant done.

OK New for me. TP meets all rules for moving expense. However when I look at his receipts I find where he bought a horse trailer $3700.00 to move his horse,hay, lawn equipment,tractor, and gas operated equipment that the movers would not transport. He still has the trailer. Deductible or not?. No he is not a farmer.

I am told that losses on these may not be deductible unless you actually get a DEED. What you think on this?

Thank You I thought so.

TP works for tractor dealer. Gets paid on w-2. TP sells 3 tractors get 1099 box 3 amount from tractor mfg. Subject to SE? Seems I read somewhere where car mfg were giving amounts for selling certain # of cars not subject to se.

Thanks all I found My mistake AGI too high and I was transposing #'s.

I need a Virginia preparer that use ATX to tell me what I don't see. The facts: Single TP FAGI:14191 Sch A net ded VA line 10:12375 Exemptions:930 line 13 va 760: 13305 Line 14 VA TI:886 Tax:18 EIC credit:13 Credit low income 3 on VA adj page line 17 Question is why I can't get the low income to work and 18 credit instead of 3 credit. Am I doing this wrong?

Just checking to be sure. It looks like TN charges tax on Int/dividends/cgains but not n anything else. Is this correct?

Anybody got a cut off date yet? We have about 125 more comming in. No way to get these done. Just wondering what your policy may be?

Real estate was put in irrevocable trust(tp still living in house)TP owned this house by himself, with beneficary and trustee being daughter-in-law in 2006. TP died 2 months later(2006). Trust/trustee sat on house untill 2009 when it bacame a rental. Basis was stepped up in 2006. From 2009 to 2012 rental was always a loss(due to dep). No other activity in trust. All losses were suppended per form 8582. Now in 2013 trustee disolves trust and passes deed to herself. Upon getting clean deeds she then gifts property to mother with a new set of deeds. Question#1: what happens to suppended losses that were never passed out? Question #2: basis to mom would be basis from daughter? Gleened informaion from the trust document and 1041 & k-1's filed 2006 to 2012. Best I have. What do you think?

Hey, I just had one go through efile. TP decd 2014 wife filed as surviving spouse. I told her up front it might bounce. I felt for sure it would bounce. Maybe its the year of death creating the problem? I have one for a 2013 dod, I am gonna try.

Can we get a ruling from IRS or ss admin on this? anybody know. I know I have 9 of them on hold for info.

Gotta wonder what the real story here is.

You know I wonder with all the snow, cold, ice this season would IRS extend corp due dates by a week or two? I doubht it but a nice thought.

I have run ito quite a bit for the 5 year kids. The thing I watch for is that scholarship $ doesn't show up on the blasted 1098T the final year and create havoc.

I had a few that beats the dd. I also had one client in the "entertainment field" and found out she could write this stuff off. How did she know?

I had 14 years with my first and 2kids. Now on my second in 1 month will be 15 years and 3 kids. Ain't life fun if you can stay out of the soup.

I think if I use it as start up does it even show up in 2012?

And I just read it to see if he ever caught it. You know like a dog casing a car. Wonder what he would do if he ever caught it. Back to work.

S corp stock value on books at 100K. This was what the 2 stockholders put in 20 years ago. All cash, no loans etc. 2012 stockholder 1 bought out stockholder 2. Paid him cash from his own pocket. The way I see this is #1 now owns all the stock with a different basis on his end but not on book/tax balance sheet. It stays at 100k. Am I right in this or am I WAY OFF BASE? #1 has pretty good basis for his stock through all the years. Just want to be sure I do not change the balance sheet? Thanks all