M7047

In the past I could customize items on the main info worksheet. This year I can't even select it, it's grayed out. Anyone have any ideas as to how to change that? It shows up as a generic form in my rolled over returns or if I try to create a new return. I just can't customize it.

How do you stop them. I'm going to get a newer version and don't want to fall into that trap either.

@Dennis. I truly appreciate you taking the time to give me input, but I can't open anything on this stupid program. It never gets to that point. I've tried to open backup files from a hard drive but it wont open those either. As soon as I try to open quickbooks, this is the message I get and it never goes beyond it to try anything else. UAC was down to never.

Ugh, I thought this was brilliant. I have a 2009 version with the license key. I tried doing what you suggested, but even with the internet off, I still get this message once I try to open it. I've even tried to run compatibility with windows 7 and still nothing. Tried looking up the code and it's just basically telling you it's not compatible with windows 10. Funny thing, I had this working on windows 10 but had to get a new hard drive, and now it wont cooperate...:(

Hello, I'm looking for software to enter "after the fact" receipts for a few clients. Need to also be able to get P/L statements. Don't need payroll. I've been using quickbooks and like their checkbook entry, but they're getting out of hand price wise. Also want a desktop version not online, as our internet can be out some days. Anyone have any recommendations?

I'm in very rural PA (as in I have no visible neighbors) and my pricing is similar to yours. Obviously I would love to get more for a basic return, but given where my office is and there are two other accountants in "town" with similar pricing, I just cant.

I was looking at the ProSeries Choice 200 as an alternative to ATX. I understand this is for new customers only. Could you tell me what are they telling you about renewal? I'm looking at alternatives as ATX is getting out of hand, but I don't want to be looking again next year.

I've had multiple returns stuck at "transmitted to agency" for the state return. The federal are accepted. Are these considered filed on time?

She claims she doesn't know whose number that is. I am an accountant, but not a CPA or an EA I thought this was fishy too. The weird thing is they want her to call them at that time. What happens if she doesn't call them....

New Client received this letter from the IRS. It has her name and address correct, but that's not the last four of her social security number. The second page has 2 years listed that had no filed returns(because she only had social security those years). Our concern is, is this legit when they don't even have the correct social on it. Does she call and say that's not my number and then scammers have her real number? I'm so leary of fraud anymore. Has anyone else seen where they set up a time for you to call them? Anything I've seen had everything done back and forth in writing. Advice?

That makes sense. Thanks!

I can do that. I just thought it was weird they were asking for that when they would have received the federal copy of the 1099 and should also have social security on file. It seemed weird they would ask for info they should have already, when they are understaffed.

Has anyone had a client get a letter from the IRS that asked for proof of withholding.? The only income they have is a pension and social security. Both have federal taxes withheld, but wouldn't the IRS already have the amount on their end?

I can see what you're saying here. Makes you want to use the whole mileage, but I would still be inclined to forgo a home office deduction. I've been digging but there doesn't seem to be any case giving a definitive answer.

Thanks guys. I was inclined to ignore the commuting miles to first and from last pickup until I read this (attached) from a "tax advisor" and started second guessing myself. I had already told her no commuting mileage and I'm not venturing into a home office with her when all she's doing is answering her phone there.

This is her only job. It's a rural area so she doesn't go anywhere unless she gets a notification from the app. Once she accepts the job, she leaves home and goes to pickup/deliver whatever. She doesnt really have an office, she's just using her phone to get notices.

I understand that the client can use the standard mileage rate when working for these companies. My question is, does that start when they leave home or when they pick up the food/ passenger? I have read a lot and am getting both versions of this depending on who wrote the article. Some consider the mileage to the pickup as commuting others say the diver has no permanent place of work, so mileage to the pickup counts. Thoughts...

I've been thinking of switching software, the price for ATX Max is just getting out of hand for my business size and that 95.00 processing fee to download software is beyond ridiculous! . I have about 160 paid returns and a couple of partnerships. Does anyone have experience with other software and care to offer pros and cons? I have an email from Drake and I understand a lot of people like them once they get on to their system. Any others...

Thank You so much! I was using Fixed assets to remove it from Dep Sch.

I filled out the sale of personal residence on the fixed asset tab. Why would I use 8949, wouldn't that put it on here twice?

That's the date it became a rental. She's owned it since 2011.

This is what I have for the 4797-it flows from here to the schedule D onto the 1040. They do qualify for the exclusion BTW. Even though the state info is there on the detail tab, I can't get the info to flow to the state return... My PA Sch D is blank and I cant get any of the info there. What am I missing? Thanks!!

Why, when the whole gain is under 250,000? Wouldn't you figure the gain/loss first and go from there . I mean, if you have to factor the depreciation into the basis aren't you already recapturing it...

This was part of another post that must be considered closed. If client has home that they turned into rental property, used it 2 out of the 5 and then sold it, does he have to recapture the depreciation if the total gain is under 250,000? In other words, if you reduce your basis by the amount of depreciation used and still have a gain, can you exclude it all if that gain was under 250,000?? Ex house value 150,000 used depreciation of 10,000 so basis is now 140,000. Sales price is 190,000 making a gain of 50,000. Can they just exclude all that gain and not report anything? https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/property-basis-sale-of-home-etc-5 "Generally, the law allows an annual depreciation deduction on your rental property and you must reduce the basis of the property by the amount of your depreciation deductions. If you don't claim some or all of the depreciation deductions allowable under the law, you must still reduce the basis of the property by the amount allowable before determining your gain on the sale of the property. The gain attributable to the depreciation may be subject to the 25% unrecaptured Section 1250 gain tax rate. Additionally, taxable gain on the sale may be subject to a 3.8% Net Investment Income Tax. For more information, see Questions and Answers on the Net Investment Income Tax. Refer to Publication 523, Selling Your Home and Form 4797, Sales of Business Property for specifics on how to calculate and report the amount of gain."

If he used it 2 out of the 5 and then sold it, does he have to recapture the depreciation if the total gain is under 250,000? https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/property-basis-sale-of-home-etc-5 "Generally, the law allows an annual depreciation deduction on your rental property and you must reduce the basis of the property by the amount of your depreciation deductions. If you don't claim some or all of the depreciation deductions allowable under the law, you must still reduce the basis of the property by the amount allowable before determining your gain on the sale of the property. The gain attributable to the depreciation may be subject to the 25% unrecaptured Section 1250 gain tax rate. Additionally, taxable gain on the sale may be subject to a 3.8% Net Investment Income Tax. For more information, see Questions and Answers on the Net Investment Income Tax. Refer to Publication 523, Selling Your Home and Form 4797, Sales of Business Property for specifics on how to calculate and report the amount of gain."