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How do I tell the software that a 1099-R received with code 1 was actually rolled over within 60 day period and is not subject to income tax or penalty?

I'm preparing the corporate return. The program is putting the loss on Schedule M-1 Line 5 and not completing the Form 4797. I'm confused and cannot find any information on this being proper treatment. It is different than prior years.

Where would I find the information regarding how to treat? The system is not allowing the loss due to the Section 179 that was claimed. It is an S corp. I just want to verify the treatment is proper. I could not locate it in Pub 544.

I have used the bulk disposition feature often in the past with no problems. My client discarded around 20 pieces of computer equipment that was obsolete. I have gone into each asset and tagged it to the bulk disposition. They all appear on the bulk summary sheet. However, no numbers are transferring to the Form 4797. Any suggestions????

Tech helped solve problem. We had to completely uninstall then re install but backup brought everything over. Last night I could rollover returns but this morning rollover is a problem. Any suggestions?

12.8 nightmare, 12.9 installed finally. Thank you DJ ATX tech support guy. My serious problems are solved.

Very true....only wish I had been aware of this yesterday at 5:30!!!!!!! Could have saved me hours on phone with tech support. Still waiting on someone to help.

I did the program update directly from the website. Followed all installations instructions. Antivirus software was temprarily disabled. Rebooted computer. Working on a stand alone machine. ATX 2012 will not load...error message states ATX 2012 has encountered a problem and needs to close. We are sorry for the inconvenience. UGH!!! Friday night and I do not need this. I intentionally waited to install update until end of day. Very glad I did now. However, I need the program to load and work. Any suggestions???? I am running Windows XP as the operating system.

Thank you!

My client has a proposed settlement from Worker's Comp. I don't believe such a settlement is taxable but cannot locate anything to back up my position. Also, will such a settlement have any impact on the Social Security disability benefits my client is currently receiving?

My friend found this on the website. Hope it helps others out there. http://cchsfs-atx.custhelp.com/app/answers/detail/a_id/14035/kw/client%20mailing%20slip%20centered

I usually recommend Medlin to my small clients who want to run their own payroll. It is an easy to use program for most clients. Does anyone have a program they recommend for their Mac clients that is affordable for the small client? Thanks!!!

Thank you! I had figured out the dollar amounts already just needed the election. I ended up creating my own within the election form.

I need to make an election to treat the trade in of a vehicle as a tax-free disposition. I believe it is election 1.168(i)-6(i). How/where do I make this election in ATX? I have not been able to find it. I've looked in elections and cannot locate. Please help!!

I have a client who earned $28 K while residing in Switzerland for 60 days. He had to pay Swiss tax on this money. Is this money taxable to the US? He is a US resident. When looking up the tax treaty, it only appears to cover Swiss residents earning income while in the US. If the money is taxable to the US, would he receive a foreign tax credit for the tax paid to Switzerland? Any help is appreciated.

I'm not waiting until the 17th. Headed out in the morning to VA Beach for a few days. My daughter is on Spring Break this week. I want to enjoy time with her while I can.

I'm having one of those days where I am blanking on what should be a simple question. College student has a small part time job while away at school in KY. Other than when in school, he is a WV resident. Question is regarding the state tax returns. Should he file WV return showing all income as taxable or KY return. Both states have 183 day residency requirements and also have reciprocity. All income is from wages. College student was claimed on Mom's tax return as dependent. Thanks for the guidance.

Thanks for the guidance. Client is giving information to church to see if they will correct the W-2. Apparently, I'm the first accountant to tell one of the pastors the W-2 was wrong. Just goes to show that there are a lot of preparer's who do not understand clergy tax. The pastors apparently go to the same person that prepared the W-2's.

I have an error on a clergy W-2. The W-2 looks as follows: Box 1 – 7108 box 2 – 42 Box 3 16800 box 4 – 706 Box 5 – 16800 box 6 – 244 Box 14 – Housing allowance – 9692 What are my options to correctly report? A corrected W-2 is NOT going to happen. I have to handle this on the return. This is a part time pastor who has a separate full time job. Is there any means by which to give the taxpayer credit for the tax that was incorrectly withheld from his pay for Fica and Medicare? Suggestions are welcome.

Praying for Don and strength for KC!

I seem confused each time I try to understand what property is section 1245. Real property is section 1250. Would computers and equipment be 1245? Please clarify. I've read the instructions to Form 4797 and in Publication 557 ( I think) and am still confused. Thanks

My client was unemployed for most the year and definitely meets the 750 hours rule. I also know that the 750 is per property unless the election is made to treat the 5 properties as one. My question is what happens if in 2012 they are no longer a real estate professional? Does that draw any red flags to IRS as the more favorable treatment was received for one year only? Real estate professional is determined each year, but once the properties are combined as one they are left that way forever or until they are all disposed of. Is this correct? Can you just combine two of the properties if you have documentation to prove that the 750 was met on those two properties alone? This client also has modified AGI of close to $150,000 so passive loss limitation is a factor in this decision. The losses are being severely limited. Will real estate professional help much as there is still a limitation?

Thanks - Mine used to be automatic as well. I wonder if it is a software glitch.

I have several clients that had the Federal returns accepted last week. The software is supposed to change the status of the state files to created but has not done so. They are still in held status. If I go into to the file and create the state return again for e file purposes, the software still puts it in held status. What can I do? The taxpayers will not get their state refunds if the software won't let me create the state returns to e file. Please help. Software is ATX. thanks

The dependent child of the taxpayer passed away during 2011. I know they still receive all deductions but is there somewhere in the software to tell it date of death? Will this cause an e file problem with matching SSN since one of dependents is now deceased? Thanks,