mcb39

I have version 92 of the 4797 and also have the sale of a rental property. My line 32 shows $18961; which is not a happy issue for the taxpayer. My only suggestion at the moment is to check over your input sheet very carefully. Thankfully, on 3/7 in post 184094, krissi0521 outlined the steps for reporting Sale of Rental Property. I printed it at the time because I knew I had one coming up and the instructions were immensely helpful to me.

I absolutely WILL NOT prepare a return while the client is present. They never stop talking, it is too hard to concentrate and too easy to miss something. On the other hand, I give them as much face to face time as they want. I want to know about them and they want to know about me. They come here to see me, not some gal in the back room plugging in numbers; or even my personal assistant. I know that many of you disagree with me, but this is just the way that I choose to run my business and it just grows and grows; all by word of mouth. As KC said, you learn eventually which ones to fire.

I wish mine had turned out similar to that. After adding back depreciation, my Grandson had a pretty sizeable gain. No carryforward there. Good thing their new baby helps offset the gain.

I have found that in most cases with the 2.5% of gross; they usually don't actually get the deduction anyway. Of course, it is the ethics thing for us.

I haven't used them since the days of William Tasker; and then, only once.

The outpouring of sympathy and reaching out with help that is being posted here makes me proud to be a member of this board.

I lowered the "pay before filing" boom this year and you would think the world had come to an end. I have always had a few clients who consistently have me hold their checks and I know who they are and I know they will call me as soon as their check hits the bank. As for the others, they have the option of going elsewhere, but so far none of them have. I just don't need that kind of aggravation at this time in my life. I have more new clients coming in than I know what to do with. The greatest majority of clients have no payment issues. However, do the rest of you find that close friends and relatives are the very worst and they get the largest discounts. Go figure!!!

I have filed two so far that went through without a glitch.

They have extended the security updates to July, 2015. Not that it matters for anyone using ATX. We must have Win 7.

I took one on Monday, but it is worn off. Just had to thank my husband this morning for all the help and support that he has been this year. He doesn't know how to turn on a computer, but he sure is good with a broom and a shovel. Not complaining about erratic meals is the really biggee.

I am also having an influx of new clients who have lost someone; spouse, child and/or beloved aunt. God seems to lead them to those who understand and care. I often think about your son De.

I remember that so very well and have often wondered if your second romance ever went anywhere. Apparently, it did. Blessings on you. I can't believe that it has been that long.

When my hairdresser picked up her taxes on Wed, I suggested that she stop by two days a week on her way to the salon and fix my hair. I told her that would be great advertising for her. She didn't go for that idea, but laid a pile of business cards on my desk for when clients tell me how nice my hair looks. She is also going to steal my business card magnet idea because I told her they were going like hot cakes. We make our own.

I think that I would use it as start up expense and amortize in 2013. Anyone?

True, UC is not considered Earned Income for EIC. Grandmother provided home, she can claim the Grandson. His dependency would be of no benefit to Mother and Grandmother provided the home for both of them for the entire year.

The sky's the limit if it truly is an inherited house. I have a client who came to me with a $200,000 carryforward capital loss. I thought she had sold stock or something and wondered why anyone would take that kind of hit. Turned out that she had inherited her father's house valued at $600,000 and sold it for $400,000 rather than pay the upkeep, etc. The carryforward will probably outlive her, especially on WI taxes where you are only allowed to take $500 of the loss per year as opposed to the Fed limit of $3000. Had a new client come in the other night with the worry that he would have to pay CG for selling the house he inherited from his Mom. Turns out that he will end up with quite a loss because the assessed value is $84,000 and he sold it for $60,000 before expenses of fixup and selling fee. The realtor kept telling him that he would never sell it and he (the realtor) would give him $29,000 cash for it. Therefore, in reference to the other post, add Realtors to my hit list. At least this one.

So, the smoke clears. She has not deduction since the company owns the truck and pays all of the expenses. I would also put it on Line 21, but without SE. I would call it a bonus or a stipend.

Nobody mentioned Insurance Salespersons who sell annuities with promises of immense wealth. Brokers are next on my "hit" list. I love my Hairdresser client. She does EXACTLY what I tell her to; almost to the point of being a huge pest. She brings me her paperwork (hard to read) but very detailed, has me prepare her sales tax an estimates and never questions my advice. Also, she does a great job on my hair at a fair price.

If they can itemize, I would put it on the 2106 taking an allowance of 56.5 cents per mile as an expense and then deduct the 15 cents per mile as reimbursed mileage.

Well, I had a mother and three kids who arrived for their appointment and all four of them sat down on my floor (Yes, Mom too) and proceeded to eat their supper of Subways and some kind of drinks. Then, toddler needed his diaper changed (also on my floor) and finally Mom was ready to talk to me. Oh no, she had to call someone on her cell phone first. I know how you feel, JB. dumbfounded and speechless.

In any event, the divorce decree will have no bearing on anything other than trying to keep the parents honest.

Why are you so dead set on expensing the assets? Also, if they put the money and or property in and withdraw it the same year, it won't add to their capital accounts nor be able to be used as UPE. If they plan on continuing this business, why don't they want to grow some capital? It just seems to me that we are missing something critical here.

I just ALWAYS download the updates to the desktop and update from there. That is just me!!

Are you still on IE 10? I got rid of a bunch of quirky little problems by updating to IE 11. Never had a printing problem, though. Did get a lot of strange IE "will not allow" messages. I asked my IT guy if I could update and he said it couldn't hurt; and it didn't. It got rid of all those messages.

Yes, to everything that Jill said. I don't have any WI S Corps either.; with payroll.