mcb39

I have never logged out and when I come in it says logged in as me, but I can't go anywhere until I enter user name and password. May have to ask for my donation back (tongue in cheek). I would never do a thing like that. This forum has been a Godsend for these last several days. Is just slightly annoying to log in every time.

I just e filed three (more). Only takes a few minutes and you get an ack of acceptance like you used to do over the phone. Off topic, I bought some "forever" stamps today. Postmaster said the price was going to 41 cents in May. I bought 220 as they only come in sheets of 20; no rolls.

Yes, I reentered the board through the e mail......and might add that I have been here many times and have had to log in every time....erc???????

Even though the "remember me" box is checked, I have to type in my user name and password every time I come to the board. Am I missing something?

The answer is No for the children and possibly yes for the remainderment that the parents still retained. This is one of the dangers of the LE. Since the parents are still alive, the childrens' basis is the parent's original basis just as in gifted property. This would be opposed to inherited property with the advantage of the stepped up basis. Perhaps someone else can verify whether the parents' remainderment enters into this as a Sect 121 exclusion for their share.

Marge, file the extension. It only takes a couple of minutes and you have peace of mind. I had a client a few years ago that I knew was getting refunds on both Fed and WI and didn't bother with the extension. She got nailed with a late filing penalty.

I was afraid of Max because it is a little overkill for me, but have used it for 2 years now and it is fine. I think that is where they are gradually navigating everyone. I don't think the price for Max went up this year. Could be wrong, though...

Hey, I'm glad to see you all. I plan on disappearing into the wilderness tomorrow night all alone (with laptop, of course). I am going to line up a couple of good novels, some good food and just "be gone"!

No problem at all....I guess I would just use Child. As long as his SS# doesn't come up on another return (which it won't) there should be no question....

Amazing!!!!

I put it on line 5 for the ones that I had....

De.....Both the guaranteed payments and the portion of the ordinary income on Line 1 are SE income. The only difference is that the GP are only taxed to the Partner who received them. The Line 1 income, which remains, after all GPs are deducted is split between the partners and taken to Sch E; page 2. The losses from the deer farm should also flow to Sch E page 2 and wipe out or decrease the other earnings. The K1 input sheet has space to enter more than one K1. Enter the LLC ID# and they will each magically turn up on different lines of the Sch E and all of the adjusting will be done there...

to create this forum for US....We, as ATXers, should be extremely appreciative. We were left adrift at a very critical time in the season and lost contact with each other. Now we can be back together again and, hopefully, we can remain that way. My heartfelt thanks to all who had a hand in this Community and all who participate in it. Marilyn

De.....the value of the LE is determined on the day that the final remainderment holder dies. Up until then it is just being held for the heirs. Marilyn