Jerry W

Lloyd, I believe pages 31 and 32 of Pub. 525 may answer your question. Jerry

Property rights are generally determined by state law. I'm not familiar with "LTA". In our state (Tennessee) when property is transferred but the transferor retains property rights (occupancy, rent etc) during his/her lifetime, the transferee has a remainder interest. IRC Section 1014 addresses this. Hope this helps. JerryW

Catherine, According to IRS, they want you to use the most current version of Form 656. I believe this is the March 2009 revision. Merry Christmas, JerryW

I can understand the lack of clarity as to whether the sales tax deduction applies only to new vehicles. It may be another "back door" way that IRS gets to the conclusion that it applies only to new vehicles. A "qualified motor vehicle" from the House Bill of January 9, 2009 provides this definition:(D) QUALIFIED MOTOR VEHICLE.—The term ‘qualified motor vehicle’ means a passenger automobile (within the meaning of section 30B(h)(3)) or a light truck (within the meaning of such section)— “(i) which is acquired for use by the taxpayer and not for resale after November 12, 2008, and before January 1, 2010, “(ii) the original use of which commences with the taxpayer, and “(iii) which has a gross vehicle weight rating of not more than 8,500 pounds.”. Section 30B(h)(3)refers to "ALTERNATIVE MOTOR VEHICLE", which seems to refer to "new" vehicle. Typically confusing language.

Thanks to all for the birthday greeting. JerryW

Deb, This link may answer your question. http://www.irs.gov/irs/article/0,,id=179073,00.html JerryW

Gene, Thanks for your reply. I think I figured it out. The AL40 provides for allocation based on part-year resident. I was simply misreading the instructions. Thanks again, Jerry

I have a client (MFJ) who moved from AL to TN May 31, 2008. They have wages of $81.00, total interest income of $8255.00 and pension of $15184.00. They also have SS which per AL instructions is not to be reported. The instructions seem to say I must file both AL40 and AL40NR plus Schedule B,CR,DC. The AL40 shows no tax while the NR shows $78.00. When I piggyback the AL return for efiling, it shows only the AL40 as the filed form. Is this correct? I may be missing something. The client has not TN filing requirement. Could you comment on this AL return? Thanks, JerryW

That's correct. Deduction for 179 does not reduce partnership income since it is passed through to the partner(s). On the other hand, section 179 deduction for a schedule c is taken into account in arriving at the net income for SE. JerryW

John, Send me your email address and I will send the pdf factory setup file. JerryW

Mike, I use Trust Fax for receiving. I send everything from my computer. Based on my monthly receive volume, I get by with the $4.95 plan, including a toll-free number. Here's the link: http://www.trustfax.com/free_trial_30day.a...CFRUdsgod7XLPjw Hope this helps. Jerry W

I took another look and found that most on the union health & welfare funds are 501©(9) organizations in which case contributions are not tax deductible. Hope this helps. Jerry W

My guess is that it depends on the organization's tax exempt status and whether the 501© section permits deduction. I took a look at Guidestar and could not find "Union's Health & Welfare fund". That seems like a generic name. There are several union organizations that have health & welfare funds. If you can be more specific with the name, I can check further. Jerry W

I believe may take the $735.00 to offset the income, then depreciate the remaining $2365.00. Jerry W

You may use any five digit PIN except all zeros. This should satisfy the software. Jerry W

I thought that might be the case but wasn't sure. Thanks for the confirmation. Jerry W

I have Fed 1040 plus State returns for NC, SC, VA and KY. Created EFile with NC piggyback to Fed. Also created State only for SC and VA but can't create KY. Any ideas why KY EFile won't create. Thanks for any ideas. Jerry W

I efiled 1120S's for two different corporations. Both were accepted but no DCN is showing in Efile Manager. Is this normal, or should I be concerned. Thanks, JerryW

Pub. 544 may help answer your question. Jerry W

Use 1099-R. If the taxable amount is not already calculated, use the bottom part of 1099-R to figure. Jerry W

Thanks, you're doing precisely what a moderator should do. Right on! Jerry W

The amount in box 1 is what is entered on the worksheet. The amount in box 12a is the amount sheltered from income tax. Hope this answers your ? Jerry W

Terry, Thanks for the W2 problem update. I was getting ready to follow up on my upload but I'll just wait and see what they do. Jerry W

Terry, I uploaded a W2 text file to ATX last night and asked them to determine why the employee SSN, employer trade name and city, state and zip are not being imported. They are to send me an email. I'll post their reply when I get it. Jerry W