mcb39

Good Job! and Congratulations! Yes, it does mean that.

Good for you. I am just curious. Has anyone heard of anyone who did not pass the exam?

I believe the same thoughts crossed the minds of many parents and/or grandparents. I did not feel guilty about thinking that; just very, very sad. As for children at tax appointments. It can often be a nuisance. However, there are clients who just want me to meet their new baby. I generally send a congratulations and often a gift card for clients who have new babies. Babies add to the complexity of the return and clients really like to know that you care about them personally. I have dozens of refrigerator magnets stuck on the side of my metal desk. These entertain small children for a long time. They are allowed to arrange them however they like, and, if they are good they get a treat when they leave. I would prefer for them not to be there, but generally they are well-behaved. Also, over the years, many of these children have grown to be clients themselves and are now bringing their little ones to appointments. I also have a few "little metal cars" sitting around for the little boys.

Once I decided to take the RTRP; after over 30 years in this business, I decided to go forward agressively. Am well past retirement age, but don't feel it. Am adding an addition to my office. Don't know for how long, but as long as I am healthy and (hopefully) in my right mind; there is no way that I could possibly sit around doing nothing when there are so many people out there who need alternates to HRB and Liberty. I have a pretty consistent client basis of a little over 200; which keeps me mighty busy; but with the additional room, I am considering some parttime help this year with assembly, phone, filing, etc. At the same time, I am easing out of my other part-time job as a Dental Receptionist. At this point, I would miss my clients and the work too much, not to continue.

I have clients with rentals that show either a loss due to depreciation and mtg int and others that show a profit because they have no mortgage. There are so many variables. Lately have had a lot of them sitting empty; but still available for rent. Also, some getting trashed. It has gotten to be a tough market unless they have high-end properties and/or long term renters. IMO I also agree that the client in the original question shoud not have gone it alone........but you can only lead a horse to water.

I have a client who took out a personal loan and used it to put a roof on his rental. THEN, is it deductible against the rental. I am asking about the interest in addition to depreciation of the roof.

Congratulatiions to both of you. I, like Mark, thought that I was too old to be taking tests and was a total basket case for about three days before. However, once I got into the cubicle, the calm descended and I found out that I actually knew most of this stuff. Am SO glad I got it over with early. Just hope they don't come up with any more bright ideas.

I have checked mine about once a week to see if it changes. It has not. However, as you say, the account states that I have nothing pending to do. I have no clue why is is staying provisional, but am also glad to see someone else with the same results.

BUT, that applies only for 2012 and the preparation of 2012 and earlier returns. The IRS has already announced that they will NOT extend the deadline and Prometrics has announced that they will NOT be offering any additional testing facilities. It seems to me, Jack, that you are argueing just for the sake of arguement. You have made your point and are only proceeding to confuse people.

I had one of these last year, but get this: This was their fifth and last carry forward year under the old rules. The IRS never challenged their claim for five years and last year because of the change in the rules (?) they had to jump through all the hoops and never got their refund until October. These people had adopted three special needs children in 2005. I guess I wonder why the IRS would not just leave this credit alone instead of doling out in excess of $30,000 in one clip to some filers last year. Was this another case of not thinking ahead?

The benefit of passing the test is the ability to continue to prepare income tax returns for pay. It is incorrect to say that there are no benefits. I am not nearly as concerned about the "pay" part as I am about the continuation of my services to my clients until "I" am ready to say Quit. Actually, I rather like the certificate because it says that I definitely know something about what I have been doing for 30 years.

For some odd reason, even though it is mandatory, it does make you feel "special". But, yes, everyone on this board is special in their own way.

Terry, isn't that an awesome feeling? Along with having it done and over 18 months ahead of time.

This from Terry O says it all for anyone who has passed. Also, Jack has a good analysis of the test.

I know exactly how you feel. Congratulations!

This was my scenario almost exactly. If you are familiar with the 17 and you know how to use a mouse, looking up answers for verification or just because; is easy enough. Just stay calm, and read the questions carefully. They do give you a run down on how the whole thing operates, which you can read before the clock starts ticking. I also had time left over to go back and check. I wish everyone taking this test the very best of luck. I was a wreck for two days before and pretty spacey for two days after.

And I am "just sayin" that I signed a paper saying that I would not discuss the nature and variety of the questions; and prosecute, fine or whatever; my word is my bond. The penalty would be disallowance of your RTRP designation.

On Schedule A, Line 28; provided they are otherwise able to itemize, they can deduct up to the same amount as they claim on Line 21 of the 1040 for Gambling Winnings; which I assume would be $10,000. Yes, on a joint return they can combine winnings and losses. Am I correct that he probably got a 1099G from the Casino for $10,000? We see a lot of these in WI.

We are not allowed to tell what they "dwell on"; but you are making simplified assumptions that may confuse and/or mislead some RTRP candidates. You are correct in your assessment of studying how to look things up in Pub 17. It is also extremely important to familiarize yourself with Circular 230. These are things that we have all been told to be aware of. Also, watch the video on the IRS website. I watched it several times. Other than that we cannot discuss the nature and variety of the questions.

What I know is that my RTRP certificate is issued in my first and last name only. My ID; which is my drivers' license, has my middle initial on it. My PTIN has my middle initial on the login. My result letter does not have my middle initial either. In other words, none of this caused a flutter when I went to take the test. You have to have a picture ID when you present yourself and nobody at the testing center called me anything other than my first name. I think you will be fine; they really just want to verify that you are who you say you are. If it is a big worry for you, call your Prometrics testing center and ask them. There is a phone number on your registration confirmation e-mail. Good Luck.

The way I read some of those ads; they are just offering the additional 5 hours as a ploy to get you to sign up for the RTRP course. I doubt that the RTRP prep course counts for 10 of the required 15; for one thing; each of those hours is designated as counting for something. So many for ethics, so many for new law changes, etc., etc. Before I decided to take the RTRP, I decided to just take the test on my own merits and then sign up for a course that would give me the entire 15 hrs CE; such as the course that I have been attending for the past ten years. That way I will have the CE cert from one place. I don't like doing things in bits and pieces and I don't like all these e-mails trying to cash in on something that is difficult enough for us both financially and mentally. Good Luck JB whichever way you decide to go.

However, bear in mind that the original post did not mention anything about the refund being LARGE! Because, it isn't. The man just wants to know what is going on with his return and I think that he has every right to that information. I certainly never expected a simple question to turn into a political fiasco and/or an involved dissertation on how we should or should not advise our clients. I thought this board was designed to help each other as opposed to shooting each other down. I am removing myself from further discussion on this subject.

I did not find it necessary to spend the extra money taking a study course for the RTRP. IMO, along with Kea is to really read and read and read the Circular 230. Also, bone up on your research skills as the Pub 17 is there online for you to use if you don't take up too much time searching. I took the test on May 23 and received my Certificate yesterday. Everyone seems to be trying to cash in on this RTRP requirement by offering study courses. Unless you are a complete novice (and you aren't) you don't need it. Also, watch the IRS videos regarding what to expect. I watched them early on and then again a few days before going for the test.

Jainen, you are just a bundle of information and hope. It does sadden me, though, that we have no resources to rely upon. The IRS keeps making it more difficult for us to practise and at the same time withdraws assistance to those of us who comply.

No, I don't really know. However, if they are looking for anything in particular, why aren't they asking any questions after three months? Why hasn't he gotten a CP2000 instead of two generic letters; one from Austin and one from New York? This is a single man whose return I have prepared for years. He has one job, owns a home; pays property taxes and a little mortgage, gives to charity and has receipts for everything, including the energy efficient windows that he had installed. Oh, and he loves and lives to fish in his time off. Perhaps they are trying to find out if he ever caught more than his limit.