TAXMAN

Jack, I rolled them into 2012 program exported them out to excell cleaned and leaned them out. I now want to put them back into the 2012 program. How? Thanksc

KC I can't seem to find where to import this file back in.

Ok I have exported my payer file to Excell. Corrected and deleted in Excell and saved file as CSV per ATX. Now how do I get it back in to ATX? I must have brain cramps or something. Thanks

Not tax but Gail what part of Virginia are you in if you want to tell or email me direct.

Thanks Jack. Anything we can learn now gives us a head start. One thing I noticed is that the payroll program did not import in. May be in my settings. I will check this futher. Ask them if there is a way to time check a return. In other words how long a return was worked on or open? Also on billing options can we add a worksheet that ATX doesn't pickup in billing options. I know I can add it. I noticed that in turbo tax they give a real good worksheet for determining deduction for Long term care deduction in state where allowed. Virginia for instance. Just some food for thought.

My roll over problem may be due to network version. I will investigate later. My other preparer also notice he did not have to log in. We shall see as we get closer to more updates and such. One thing he noticed that it rolled with a 1040 for 2011 not 2012.ATX said form not avaiable at time of release.

I noticed that if I roll a return it does not show up in the returns manager box untill I exit out and then reenter program. Anybody else notice this? I also noticed program is AWFUL slow in anything it does. Is it just me?

Maybe a dumb question here. During the year Shareholder #2(only 2 shareholders in corp) bought out shareholder #1 for the value of the stock on the balance sheet. Since this is now a 1 shareholder 1120s does the value on the balance sheet change? I did find out that shareholder #2 also paid #1 his share of the (as they said) retained earnings, however I think they were referring to the accumulated adjustments account or his share of the profits this year, still not sure on this. Corp has always been a S corp. Anyone with thoughts on this appreciated. Thanks

Lets see what someone else would do. TP self employed decides to open new location. Needs lots of construction work done. Hires a worker who presently laid off to do some of the work. TP provides all the materials per spec sheet. Worker does the work over several months while also doing other jobs for other people and old employer. He and TP decide he will get $15.00 per hour. After 2 weeks worker tells TP he has worked 30 hrs. This goes on for about 3 months. TP wrote checks for the hrs @15. whatever the worker told him. Is worker w-2 or 1099? I ask because worker is attempting to draw unemployment using hrs he work for TP. By the way TP and worker are in Virginia and work is in Virginia. What do you think? Thanks to all

Does anyone know when ATX will turn off their site for Elf for 2011? I have some 1041's due 11-15-2012. Thanks.

KC I am sorry for your loss. I am sure that you and Don shared many happy moments together. May you find peace in those not forgotten times. God's arms are strong and there you will find peace and comfort. Thank you for all you have done in taking care of one of God's children.

Anyone know if a true demo disk is out yet or even can be had? Anyone know yet what the proposed prices are going to be?

I see all the post comming in. The original question? What do I do with the utilities bills during administration of the estate for which the estate eventually sold at a loss?We will be filing a 1041 first and final. Thanks

TP included the real estate in inventory on the court house document that list all aseets at time of death. Real estate was merely held and repaired in order to sell. Will gave ADM power to sell. It was that TP need utilities on in order to repair and show property. I THINK (without a cite) these expenses could be basis or expenses to repair and sell. If this be the case it(utilities) would still push basis around. What is the consenses of the board? Thanks. Property was never rented. Was TP residence untill she died.

Attempting to gather facts for a final 1041 in which the real estate was sold at a loss from inventory value to a non relative. What can I do with the utility bills paid by the estate during holding period to sale date? Was never a rental. Brain a little fuzzy now. Thanks

I really didn't mean to stir up a can of worms. It is a H & W LLC providing security services. Only H works and gets a W-2. All taxes withheld on that part. This is his main employment. LLC started 2005 and I cannot find where an election was ever made and in fact 1065 has always been filed and as best I can see his income was always on a w-2 and subtracted from the gross on the 1065. What to do???

There is no Guaranteed Payment. Husband took a salary and then took didtributions. Cash out of the account indicates this is what happened.

I have a 2 member (husband and wife) LLC filing on a 1065 Form. H takes a reasonable salary wife does not. Husband takes distributions wife does not. It this distribution subject to SE Tax? I find some statements says is and some not clear. I appreciate all help in this matter. Many Thanks

A mother died leaving all assets to a trust for severelly disabled child age 30+. Brother was named Trustee. He died. Sister was named by court to be trustee. She is disabled and does not work. She must make an accounting to the court for transactions in the trust. She is not allowed to invest assets(cd's) into anything but CD"S. The state of Virginia sets a fee to which she can take. Sometimes she takes a fee sometimes not. My question is: Is this fee subject to SE tax? I don't think so but may be second guessing myself. Any help or cite greatly appreciated. Thanks

Wilmington trust merger with MTB 05-16-2011. Basis in WT was $4500.00. On 5-16-2011 we got .051372 shrs of MTB (6) for our shares in WT(125). It would appear that this is a taxable loss here. In the prospectus summary it states: The merger is intended to be taxable to Wilmington Trust Stockholders as to the shares of M&T common stock they receive. It would appear that this does not qualify for the like kind exchange rules based on the statement. Am I on the right track or do I wind up with an extremely high basis per share in new stock? Any thought on this one? THANKS

I am trying to put a notebook together for 1040 forms page 1 and 2 for my clients to look at. The eary ones I am having a hard time finding. Any help in this off season excurission would be helpful. A lot of them clients brought in. we made a copy then erased the numbers where we could. Some I could not even use. So If you all can help i would like to get somemore of 1920,1930,1940 years. Thanks all.

Thanks to all. I really didn't mean to stir up this mess but thats what the TP gave me. Is this a good board or not. Lots of experts on here. Many thanks

I am still somewhat confused. TP never took any 179. Just depreciation. Converted to personal use in 2010 and then traded in 2011 for another one which is used for personal use. Do I really need to show it as a sale or adjust the basis on the new one for a future sell?

Follow up on MH. TP quit business in March 2010 and used MH as personal use. Do I still need to report this as a sale since he traded in April 2011?

Have TP who used a motorhome in pulling his race car to races. He quit the busines this year sold everything. Traded MH for a new one that he uses for personal use now. Question 1: Would you use the trade value as a sales value for the 4797? Question 2: Can I use the sales tax incurred(quite high) on sch A. TP financed all money above the trade in value. What do you think?