mcb39

The adopted daughter qualifies him for HOH.  The other two qualify as "Other"  or Qualifying relatives.

7 hours ago, joanmcq said:

I cannot read on a tablet.  I had covid two years ago and got stuck at my sister's house for 11 extra days until I could fly home.  I ran out of books so I downloaded a few onto my laptop.  I didn't finish that book and it sat and sat & sat.  I even ordered the second book in the series to try to motivate me to finish the first one.  I finally bought the first one as a book and finished both quite quickly.

I savor the feel of a book in my hands.  Never have read a book on the tablet.

3 hours ago, Margaret CPA in OH said:

My clients really like that, too, and wish the states would do likewise.

Wisconsin does!!!!

3 hours ago, Medlin Software, Dennis said:

 

It is also a bit fun, as last week, we made our first Scholastic Book order for our grand (pre school). Something powerful about her picking her own books, and having them to touch.

That is SO powerful.  I hope that she retains her love of books as I have done to this day. There is something magical about the feel of a book.  Typing was another thing that they said I would never be able to do. 

I really like the automatic withdrawal option for estimates.  That way they can't forget or renege.

Try being left-handing and learning cursive in a parochial school in the 40's and 50's.  I did it and am proud of it.  All of my life, I was told there were things that I could not do; and I did them.  I learned to knit by watching my mother-in-laws hands in a mirror.  I can spell, I can type, but I can also make homemade bread and can tomato juice.  I am computer savvy and can use a smart phone.  I have never believed in cutting corners when it comes to education.  I am pretty good at tax law, but still learn something new every day.  I'm not bragging but just stressing the importance of learning.  At my age, I still thirst for knowledge; be it scholastics or hands on.

If it is a MFJ return, the husband is usually the primary and the Estimate payments are pertinent to the entire return.  It doesn't matter who filed them until you file the SE form.  Then the credit goes to the proper person.  I have never given it much thought until you brought this up because of our Community Property rules.  In the morning, I will take a look at one of my returns with estimates.

But, what happened to the one for the energy efficient shingles?

I think the facts and circumstances are superfluous unless she got a 1099 or is in the business of reselling.

The program doesn't allow you to create two.  We always just add the two together and let the stone land where it falls.  IMO, the 8962 is one of the most difficult forms to understand.  At least, they gave us more leeway this year.

Somebody is doing something right!

5 hours ago, Lee B said:

It's a husband and wife partnership. They were referred to me by my largest business client.

Have you considered a Qualified Joint Venture instead of a Partnership?  Two Schedule C's instead of a 1065

10 minutes ago, Corduroy Frog said:

I always take the word of the client, unless there is a suspicious reason not to.  It is the job of the IRS to audit them, not mine.  One concern is that these assets were purchased prior to the formation of the partnership, and were contributed as capital investment - i.e. "hot" assets.  They will have to be tracked if that is the case for five years.

Also, my experience is that the partnership will not last long, unless they are bound together like family members.  I don't know how many of these partners love each other to start with, and after six months they are ready to go their separate ways.  Running a business is not the same as painting.

Absolutely correct!!!

I have far too many clients who would have benefited by the "old" rules.

I have a client who was seriously lacking intelligence when he put the cash in the bank; then ate out and bought groceries, etc. with his credit card.  The Hammer fell and he is on a payment plan to the IRS well into his senior citizenship and retirement.

Regarding your client, Lee, I would give him the benefit of the doubt for now.  I know when I started my business many moons ago, I placed into service used equipment that I happened to already own before I operated as a business.  (tax returns for family, friends, etc.)  Only you can get the "feel" for the honesty of your client.  If you believe in him; educate him on how to conduct a business going forward.  I don't like the idea of a Partnership starting out; but then who knows?  My husband started a small Partnership 50 years ago.  Even though our son bought out the other partner several years ago; they are still going strong and I am the one who gets to crack the whip.

How do you explain to an arrogant client who withdrew $68000 from his retirement account to purchase a new truck.; that if he had taken out a loan; it would have cost him a lot less than the $14,000 Federal tax withheld and the $3600 that he owes the state?  His wife was furious when they picked up their return.  She is the one who pays in the perfect quarterly estimates because she is self-employed.  Again; they know that we are here all year long, but think they know better.  I am so tired of certain people and his arrogant reply was "Well, you have to live life."  I hope he enjoys "living life" when they retire and he has no retirement income left to draw on. (Rant over)

When there is a breach, they  will tag everyone involved with a tax pin forevermore, whether their identity was stolen or not.

However, if you don't have any other depreciation; it is easier and faster to just use the Vehicle Expenses worksheet if you are only taking mileage.  Anyone depreciating other property is aware of the worksheets for Listed vehicles.  I, for one, find them a bit tedious if I don't have to go there.

It is there.  I just had it last night, but they wouldn't let me use it because I had new depreciation.  Go to the C or whichever form you are using and click on the car and auto expense block and it will jump you to the Vehicle Expense form.

20 hours ago, Lee B said:

We all have moments like this. The only way to move forward is to accept the mistake, learn from what you did wrong and move forward.

Since I don't have any staff, I have to yell at myself. 

By making mistakes is how we learn what are limitations are which is why I don't do any Trust or Estate returns

Nor, do I!!!

What are the lists attached to; as in Schedule C, E, F?

I still have the same clients getting a pin year after year.  Not that they had identity theft; but their workplaces were compromised. The pin is different every year.  I have finally taught most of them to watch for it.

Start with Form 14039.  I have had two; the same client two years in a row.  I believe that it took about ten months before he got his refund.

My brother hasn't spoken to me for over 20 years.  He was POA and I was caretaker.  Will was a clean four-way split.  I still have no clue what his problem was (is).  He was the man in charge of the assets.

In the same vein, am I allowed to take a rental loss two years in a row on an apartment that is available for rent, but landlord has not been able to find an acceptable renter.?