TAXMAN

Broker sold the stock in the Roth, CLOSED IT AND SENT tp $100. Tp has no more Roth or straight IRA's. Does this help my situation? I believe unless he is dead this is subject to the 2% rules and if I can't make the A work it too is gone like his money. Thanks

TP Age 67 now had put 10k into roth IRA. Broker invested in stock that became next to worthless during year. TP did manage to sell for $100. Brain warp now. This does goe to Schedule A not subject to 2% rule. Correct?. There was a discussion that this could possibly be considered A Schedule D transaction. I don't see how. Agree or not? Many thanks

The way I read it if X in box then you need name and pin #.

If x in box and preparer is name then pin not required. Which untill yesterday it worked fine.

Which way do they want this?

I had 7 rejects this AM due to same error as you guys. Up until last night no problems. Anyone contact IRS yet to see if they have problem?

Hey KC if you read this could you republish that list. Might be something we all could use. Thanks

Just printed a set of estimated payment coupons for tp and noticed that the due date and the number of the payment were missing. Notice on IRS web ste this information is still on there. Anybody know if this is by design or ATX left them off to make them generic? :scratch_head:

Just thought I would bump this back up for any replies this board may have.

Noticed a return that got by. Federal had EIC and Virginia forms clearly marked with the credit amount and the EIC indicator. Return was transmitted without the VA-ADJ page. Virginia processed return as though there was no EIC even though it was clearly indicated. Called Virginia told fax the adj page and they would fix return 30-60 days not to file an amended return. I think ATX(state) should have kicked this out with an error showing no form for the EIC. This fell on deaf ears. Goes to prove I must check closer. Maybe I am the only one with this problem.

OK Just wondering what this board feels about the Fisher Case and would/could it be used on current year transactions. I have several TP with some old Met life and Blue cross anthem stock sold this year. Anybody know what may be happening with this or any old protective claims filed? Just fuel for the fire. I would like to take advantage of this case due to fact that my TP'S are getting more of their SS taxed. And it matters aren't bad enough My state taxes almost everything that Federal does.Thanks to all who can shed some new light.

I submitted a bug report, and the response I received is that of their thousands of users, I am the ONLY ONE that has complained about its removal. There is strength in numbers, so help the cause!

I too complained about this missing price on forms page but it didn't seem to help. Seems according to person I spoke to said it was redundant and was(total) was linked to too many fields.

South of Winchester vA 2 degrees this am 26 in of snow on top of seven we already had and more to come this week. Clients calling but with snow banks 7 to 15 ft high where to park? I now know why I want to move to southern AZ. Watch out for back muscles. Mind might be willing body says NO. Any way all have a great day.

I can't seem to find ALS Script in the fonts area. Where is it or what do you have in each box. Just wondering. Thanks

TP and girlfriend live together. Girlfriend has bank account tp does not. Can we do direct deposit into girlfriends account even tho boyfriends name is not on the account? They have been living together for 5 years now. All is fine in the neighborhood as they pool their $ to pay bills from her account. Any body know or had experience with banks or IRS on this issue? Many thanks.

And we are off on a good roll already. Just abount everybody that was supposed to get the $250/500 deal don't even recall ever seeing it. And they walk among'st us.

Thank You but still having a problem where I add a charge to the forms used page that it is not changing my invoice amount nor does it show a total at the top of that page. Any ideas?

OK I am dumb as a box of rocks. I can't rember how to change the master 1040 signature are so that it shows up in script(like I had signed it) instead of block letters? Help me please.

I noticed that the billing forms page does not show total at top like it did and also noticed if I adjusted by adding something on this page or taking something away it does not change my invoice amount. Am I doing something wrong? Can't seem to find it if I am. I also noticed that last year if no errors found it informed me. This year doesn't seem to do that. Anyone else expericing these two items? I also noticed in a prior post of a form coupon. Where is it found or do we create it. Just finished all my w-2's and starting tax prep now and noticed these. Thanks to all.

Have not seen the letter yet. TP informs that as he plays he uses some type of card that keeps track of what he plays and the days. Not sure that this would work on the card tables or other plays where a card cannot be used. Seems that I read somewhere about 2 years ago IRS said these were acceptable for lines 21 and schedule A not exceeding Line 21. However in light of the way the court ruled unles TP actually had that particular days events I personally would hesitate to use a netting process. Do we inform TP and let him decide based on how good? his records are?

TP just received a form letter from the casino showing winnings of $4000 and losses of $6000. what now? I have seen the w-2g forms and they show the $4000. At his point not sure TP will be able to itemize. Just adding some more fuel to the fire.

It seems that IRS went along with the netting process on line 21 in this case and didn't bar its use in future cases like it sometimes does. I believe if form 1099's are issued, isn't IRS going to be looking for that number in their matching program? I see letters galore and interperdations if this be the case. Seems strange that the law reads one way and tax court read it the other way. Now who do we believe? Tax court and IRS or the Law? Is there a way to find out if this tax court ruling could be used in all juristictions or only in the juristiction in which it was handled?

No, Jake, you can not, under the new rules, claim the losses from the days that had no gains. Read the ruling again.

kc? Then are we saying :net each days winnings against each days wagers and report this gain amount on line 21? Then what would be the purpose of the gambling loss line on Schedule A? Also in case where Casino reports on Form 1099 more than this amount. I may be confused but I also have many seniors on SS that have this problem also. If I won 1000 today and spent 1000 today and Casino reports 1000 on Form 1099, assuming I cannot file Sch A. What then?

Are you nervous because he never signed the returns or just nervous in general?

I guess just nervous in general about what kind of idea's TP's have come up with this year. You know like I heard pet deduction, washer/dryer combo etc.

Anyway should be a great year with the new L & M schedules.

Looking to maybe change E&O insurance. Any one have some good suggestions. I prepare about 250 returns. About 10 Corps and ptrships. No bookkeeping services. 1 partime employee who helps out. Thanks

Hello all and getting nervious for new season.

Question? Have TP(mfj all years) IRS debt about 100k not including P&I due to Schedule c of spouse who recently died. Husband's income was generated by wife. She was a certified appraiser, he was a gopher. heavy mortigage. He cannot find work as he is not certified. Family is paying mortigage at this time. He is litterly broke. He also was not aware that they owed this much money as spouse kept things hid (he found statements hiddened in a bucket along with a boatload of IRS letters)and just signed name to returns. No life insurance on spouse. Tp is 40 yrs old.

What would you suggest? Thanks

How would you approach IRS to get this debt gone? OIC doesn't appear to work because TP has no equity or a job or assets of value.

Have tp(age 54) and dad(age75) formed a partnership years ago. Dad cannot work anymore and has deceided to turn over business(his share) to son for $1.00. Virtually no assets in busines but a lot of debt that son had previously signed a guaranteer of note. Money was used as operating capital. Any way Son wants to continue as an LLC.

First question: Can son keep old employer ID # or does he need to get new one?

Second question: Would dad have a capital transaction occur as a result of closing partnership? His capital account is about $3000.00 as they pulled out all money as they went along.Dad is not on any of the loans and dad also filed bankruptcy this year and has been discharged of all debts.

What would be a clean way to close this partnership and allow son to keep business going?

ANY THOUGHTS ON THE MATTER

Many thanks

How do I get an old post to repost with current date to try to get someone to review again. Thanks