Diane

My own nephew: How come our refund is much less than it was last year? Answer - you made $11,000 more this year and your withholding increased by only $200. And, because you made more, your EIC and additional child tax credit was less. I guess I get a little ticked that they expect these benefits all the time. Diane

Thanks everyone. Diane

I guess I'm not sure how to use the carryover losses in the year of sale. Are they calculated with the sale? put on the Sch E? although her income will still be over the limit. Diane

Client has earnings over $200,000, so cannot take rental losses. Question is: she's trying to sell the rental, but in the meantime is renting. If (or when) she sells, what do you do with the carryover rental losses? Diane

Thanks for your help. I didn't know that the MK rep purchased as wholesale, but paid sales tax on the purchase based on the retail cost. Most MK reps have no idea what they are doing. Thank You. Diane

I have a client who sells Mary Kay products. Last year I signed her up with Maryland to pay sales tax on her sales. She tells me now that the Mary Kay company told her that THEY pay the sales tax when she purchases their products, that she doesn't have to pay any to the state. I guess I can't see how she can sell the products without collecting sales tax. Does anyone else have any Mary Kay experience? Diane

I finally was able to Login and get to the W-2 screen. Don't know what worked -- I changed my password. Logged out, then logged back in -- I also changed from Mozilla to IE. So, I'm not sure if changing the PW worked or the rendering engine of the web page. Diane

I have registered with BSO to send Efile W-2's. In the past I was able to file W-2's for 4 clients. Now, I can't seem to get into the correct screen. I am wondering -- I don't have an EIN. Never filed for one. I use Schedule C (sole prop) and have always used my SS number. But, is it necessary now to have an EIN for me to be able to properly access the W-2 efile site? I can login with my PIN and password. I go to Account Maintenance (as instructed), click on Use BSO Services, get a screen asking me to check which services and the only one listed is something about Attorneys, etc. I have no idea -- so I check the box, click next and get some message about updating info. I keep going round and round with this. Any ideas? Diane

I remember them all! I still have my first tax return. I earned $3,000/year. I also remember the ice man who delivered the ice for the icebox; the coal truck that dumped coal in our basement; the horrors of having a party line with the boy next door (who liked to listen in); our backyard pool was a wash tub filled with water. Now the pea shooter is another story -- we used our pea shooters and played in and around a house that was being built on our street. Remember plaster? The walls were plastered and when plaster dries it heats up. Well, there were peas sprouting all over the inside of that house. Unfortunately the builder knew our families. I guess I am also 'older than dirt'. Diane

Yes, that is what she said. Reselling both Taxwise and ATX. Diane

I called TRX several times; was on hold. So, I hung up and emailed Karen from Sales. She called me back within an hour. Said she was aware of the Efile Center rules and that she was sorry I couldn't use Taxwise. She said since they will be selling ATX next year (because of the CCH dual ownership), she offered me a discount on my purchase of ATX Max for next year. I figured that would be a good deal since I will be using ATX again next year. Now that I'm a senior citizen, I keep wondering when I'll stop doing taxes. But each year I figure that since I've been doing taxes for 30 years it's kind of hard to just give it up. So a discount will work for me. Diane

Just thought I'd tell what just happened to me with ATX versus Taxwise. I purchased TRX last spring just in case something happened to ATX. Then, as we all know, CCH bought it. We then were sent Taxwise for 2008. So, I decided to mess with Taxwise 'just in case'. I signed up, registered my EFIN, etc. I don't like Taxwise and will continue to use ATX as long as I can. But, when I tried to Transmit an efile from ATX I received an error message = 'my EFIN was not registered to my Client ID #'. It took 2 days to get it straightened out. It seems that since I had registered my EFIN with Taxwise, it locked me out of using ATX because you can't use the same EFIN with 2 different software packages going through the same Efile Center. And ATX and Taxwise use the same Efile Center. Which means that if I wanted to use Taxwise I wouldn't be able to efile any returns. Tech support told me that my case was the only one they have encountered so far. Now, I'm going to call TRX and see if I can get my money back for the purchase of software that I can't use. Diane

Maryland Steamed Crabs! Crab Cakes (the real kind) Star Spangled Banner Naval Academy Going Downy Ocean (Ocean City) Baltimore Orioles Baltimore Ravens (almost won)

Thanks, I'm thinking that is probably the way to go on this. Maryland states that they accept the IRS definitions on dependents. So, the Foster Child qualifies as a dependent. I'll try overriding the entry to read Child and try again. Diane

Cannot create a Maryland efile with Foster Child as a dependent. Error message says 'Cannot efile w/Foster Child or Stepchild'. Am I stuck, or is there a work around? Diane

Thank you for responding. I kept thinking that I was somehow thinking wrong on this. I will talk to my client and make sure that the extra payments are labeled as 'apply to principle'. Thank you again. Diane

My client - a SubS corp - has a bank loan. They are making extra payments on the loan as cash flow allows. The bank is calculating prepaid interest for the 1098. Our loan balance matches the bank statement. Interest Paid = $19000.00 (matches our figures) c/o from 2007 = $1700.00 c/o to 2009 = $3400.00 Amount reported on the 1098 = $17300.00 I don't think I've ever come across this before. The interest usually is what has been paid/calculated for the year. In this case the $19000.00. I've asked what would happen if they paid off the loan? Answer = forgiven interest. Diane

No LLC.

Is an EIN now required for an Individual filing a Schedule C; even if there are no employees and no other reason for the EIN? Is it required to efile? Diane

I have received 3 copies of the software. One today, one yesterday, and one last week. The confirmation letter came on Saturday for the first copy that I received. I'm wondering whether it's worth a phone call to find out why I received 3 copies. Diane

I've been logging in under my own Username, not Admin. Still can't get to the 'Community'. I'm afraid to try using Admin as a login since it might screw everything up. I never know what is best. Diane

I can login to MyATX (after multiple password changes/updates); but, I can't get to the 'official ATX Community'. It just takes me back to MyATX home page. Diane

How did you get in to the forum? I still get sent back to MyATX. Diane

Have not been able to go to the 'official ATX forum' at all. Just sends me back to MyATX. Is there really a forum? Diane

Thank you. How would the Shareholder treat the payback from the Corporation? Since she was relieved of the debt, would this money be taxable to her? Or, just treat it as loan payback.