BobinNJ

I believe the income threshold on 1041 is $400 gross income. Bob

Good books on subject 1) Book from Fiduciary (form 1041) Workshop , from the National Center for Professional Education in Zachary, LA. I've been to their workshops and they are good. Phone # 800-682-2163. 2) Go to WWW.NATPTAX.com for the National Association of Tax Professionals and check out their bookstore. Theirs is less comprehensive than the one above. Bob

On the 1099-Misc input, there is a box in the upper right which says to check here to transfer amount in Box 3 or Box 7 to 1040. When I check the box, nothing shows up on the 1040. Am I doing something wrong? If I put an amount on Line 21 subject to SE tax, how do I indicate that? Bob

Thank you Margaret for setting me straight. I swear I checked for info above form, but who knows. These info boxes above forms are confusing, especially when the form comes up partially scrolled down so that the boxes are not on your screen 'til you go looking for them. Thanks again. Bob

I know I must be stupid ( and I always hated the 2210), but how do you get the Part 1, Line 8 to fill-in last year's total tax liability? The system certainly has the info. What do I have to do, other than override it? Bob

I am asking your opinion about this, because I am convinced that getting the client to commit in writing alot of this information not on documents like W-2's and 1099-R's, etc. is becoming important, now that circular 230 is upon us, and I will include (if it's not found elsewhere in the ATX package) a statement to be signed by the taxpayer(s) to the effect that all info used in the return is true and correct. Especially when it comes to Sch C's and 2106's and Sch A's, etc. I don't remember the mini-organizer from the past, but to those of you who do, and liked them, I say we get something in the works to bring them back. Thanks, so far for your comments, and for others, keep them coming! Bob

Bob, what do you mean by average value? Are you talking about what the brokerage statement lists for this Van Kampan Pace Fund A? Or are you getting this "average" from the client out of where? If the brokerage lists the number of shares sold at an average cost of X, and we know that dividends were probably reinvested, then use "various" as buy date. Your only other thing could be a long term/short term breakout for the dividends received in the last year before the sale. Bob

Do you use the ATX organizers? I find them less than user friendly. Too many pages. I work on other systems at different times and find other organizers easier (Ultra tax) and their predacesser. What about store bought ones? Of course, the ATX ones print last years info for prior users. What do you do? Bob

Client has contribution deducted from pay in box 12 code AA on W-2 for Roth 401K in the amount of $636.83. He also makes a $4000 contribution to a seperate Roth IRA. Has he exceeded the contribution limit for 2007? He is in his twenties, and his modified AGI in under $50,000. Can't seem to find a specific answer in Pub 590. Something just seems strange about this. Opinions please. Bob

Probably the difference between the NJ wages and the Fed wages are most or all items in Box 12 on the W-2. NJ allows a deduction for 401K's but doesn't allow other retirement plans like 403B's or 414H's or other things like life ins. or health ins, since NJ has a GROSS Income Tax. If the Auto property tax is a personal property tax, we don't have one in NJ. Frankly, I don't have a clue what Auto property tax is??? However, we have many other fees, etc. to nickel and dime you. Visit the New Jersey Division of Taxation web site and research Gross Income Tax and NJ-1040 Instructions. Bob

Yes. Your Partnership is probably liable for Business Privelige Tax and since it has property in the city limits, Business Use & Occupancy Tax. Visit www.phila.gov for more research and info about this. Bob

Yes. You must dissolve the corp. or they will be liable for minimum payt. ad infinitum. Thats why there is no final return box on the return. Go to the NJ State web site and search for dissolutions. Tax filings are only one of the required things. Bob (Monmouth Cty)