mcb39

I guess I really don't mind paying for the updates (if that is the truth) since they have become so fast and flawless. 2008 will be my first tax year with DSL instead of Dialup. How about that?

That was a pretty shocking experience. Thanks for the reminder to donate.

I hope that you had a wonderful day filled with all of the things that mean the most to you.

I had 3 Partnerships with absolutely no changes that kept generating that message no matter what I tried. I ended up paper filing them.

This sounds like one for Jainen. How can he just decide that he doesn't want to pay his debt? I would not involve myself in this scenario. I would refer him elsewhere.

Is there any reason that you cannot put the "other" income from the LLC that is not allocated to the K1 on the Schedule C as well as the expenses? Why would there be a mismatch as the IRS knows which income is allocated to the K1, but you are on your honor for the Sch C income unless it is reported on 1099's. Also, remember that the expenses allocated to the K1 info go on the Sch E also as Unreimbursed expenses.

I agree with Lion. The K1 information should be reported on the Sch E, page 2. Use the K1 entry worksheet.

(Hang in there, KC!) After mentioning it to my Computer Advisor; I let automatic undate install it this AM. It was a very fast install and I cannot see that it has affected anything. Will see what happens as the week goes on.

KC...we are always with you. You have never left my prayer list. We all have "bumps" but they are easier to hurdle when we know others care.

Have to. This is not a perfect world.! Nice and quiet here anyway.

Thanks....we often forget to update at this late date. I had just updated entire program on Fri when I put program on laptop in order to work on an extension return while on vacation. I still got more updates after your post.

Your key word is "qualifying Income". People who are on SS are another story entirely. Refer to Jainen's post above for details. My point was simply that if you have earnings (other than SS) and end up with no tax liability after exemptions and deductions; you will not receive a stimulus check. This bill had so many qualifiers and disqualifiers that the general public was not aware of or did not understand; which is what caused mass confusion. In my own case, I had earnings in addition to SS. Because my husband and I ended up owing only SE tax; we only received the stimulus payments for SS; which was $300 each.

If you don't owe any income tax, you will not receive a stimulus check; nor will you receive a check in excess of any amount that you owe under $600/$1200/$300. This has been a common misconception and a reason for at least a gazillion calls re: "Where is my check? They said......!!!!!!!"

Absolutely....I have drawn the same conclusion and have already found FixRollover to be an asset.

Speaking of which, what are the new CG tax rates for 2008. Have they been changed as proposed? Thanks.

Try to think of what Jane Austen would have done. Of course, the poor girl had no idea what a chicken nugget or Chinese takeout would be. If you set your mind to it, you can find a solution.

I do all of my ordering direct from Gateway. (Since IBM sold out to Lenovo). I order it the way I want it and then have my local man set up and install the additional things that I need. To date, no problems. And, having a friendly helper is a MUST. I prepare his Income and Sales Tax Returns as well as his families' so we work well together. Oftentimes it is just a phone call. Have had absolutely no problems with the folks at Gateway or their products so far. Have ordered 3 notebooks and 2 desktops for myself and sons. Much better than purchasing from local retailer such as Best Buy because of the personal support. And, oftentimes, the discounts and prices are better if you watch the website.

In view of all of the replies to my post, I have indeed forgiven myself and moved on. My client will have his money by this weekend. On the other hand, I forgot to file my husband's Sales Tax Return which is due on the 20th until the 23rd. I hope the DOR will be as forgiving...too much going on in my life right now, which I know is no excuse. I am taking a week of R and R.

I sent him a personal note as am sure he is very busy right now. Does he not have a municipal job, at least part-time? Therefore would be needed in emergency. He will let us know when all is well.

I know that at some point several years ago, I had to file with Cal to e-file (one time only). Have been filing for the same client ever since. See post above. I had one return to file for Colorado this year (2007) and e-file went through fine with no separate registering. I am in WI. You can always check the website for the particular state as in www.Colorado.gov for further info. Welcome to the club. I am sorry that it took you so long to find us. This is an awesome board.

All of your replies are so interesting. Now I know that I don't have to plead the fifth or give up tax prep for at least another year. I've done other stupid things too; but this one was probably the worst. Thanks to Julie and John for also sharing.

There is probably little or no danger of him owing at any future date. Both of his refunds are decent and it is a clean return. Thanks for your reply, John.......

Client left message Mon that he is still waiting for his refund. I did a check on IRS and WI sites. No info available. I suddenly remembered that I was waiting to find out if he wanted DD or paper check as he is an OTR driver. He picked up his papers, paid me and I just totally never remembered to send the e-file. Filed it yesterday and received ACK today. I told him that the lady told me to refile it. Of course, I was the lady who told me that, but he bought it and thanked me for the help. Does this mean I should hang it up or should I finish the extensions that are still piled on my floor. Can we expect a penalty for late filing? Of course, I would pay it if there is one. If I plead "stimulus insanity"; will they forgive it? Just remember, I didn't have to tell this story.

I stand corrected;;;;MACRS is 15 years recovery. Next question...what happens to allowed or allowable if he sells the property and has not taken the deduction.?

I would allow it as a depreciable land improvement; depreciated for 20 years at 50% usage as a deduction against the rental. Cite: Page J-1 Quickfinders for Small Businesses; Asset Class 00.3