carolynm

The e-machine specs: AMD Athlon 2.7 x2 processor 6 gig ram 750g sata hard drive windows premium All for less than $350.00. Can I really go wrong? I am fairly adept at updating boards/ram/drives and was thinking of assembling my own PC after tax season...well the parts would cost me far more than this package. I'll just tweak this where needed. As for brand...I've never been a brand name person. As long as user reviews are OK, (and lately E-machines have brought in decent reviews) I'm happy. As far as Windows Pro or Home Premium - I did talk to a geek friend and he said either would suit. I'll report back when up and running (hopefully running FAST) Carolyn

I"m doing a return for a traveling salesman. He often brings his clients coffee/donuts/cookies as treats. Would you consider this as gifts? Or meals.

I got fed up yesterday...and ordered this...New Computer!. Should be here by the end of the week...I have dual moniters so I'll probably set it up with one, and keep my other computer running...just start new returns on it. I"m looking forward to some SPEED!

My big wait time is between pressing "print" and the screen where you select which forms to print. Does anyone else have long wait times here? My computer is a P4 3.2ghz...3 gig ram..620g hard drive running windows xp. Not dual core.

I NEED a new computer. On big returns my computer is just chug-a-chugging when I press "print". I"m going to try to defer the purchase 'til the end of tax season but I may just throw my hands up in despair and buy one before then. I hate waiting on my computer... What are you all using these days? I've been told to buy dual core but should I look at Quad Core? How much ram do you have? Is Windows 7 premium working ok for everyone? Thanks Carolyn

I've been all .pdf since 2007 - I love it. No paper for me. It's the green thing to do! And...I am much better at organizing computer files than paper files. I can pull up .pdf much faster than locating paper - especially if it is an older document. I don't trust the "electrons in my head" to file paper documents properly...lol..the other day I had a client document on my desk...went to input it and couldn't find it to save my life. I had to think whose papers I had out before I worked on that client and sure enough it was with those papers. Now if I had just scanned and .pdf'd it when it came in I wouldn't have had to go searching. I also deliver most of my clients .pdf copies rather than paper copies. CArolyn

I've spent the weekend moving programs/files to a new hard drive so that my chugging computer can keep on chugging a while longer. My goal is to have my computer set up like this: H:-windows operating system only I: Programs C: Data ATX by default sticks it's database in the program files so it is now located on my "I" drive. I'd very much like it to be on "C". Does anyone know how to configure ATX so that it will use (load) a database in another location? I'm doing this for ease of backup -I'll be backing up C: only. If the database gets dumped onto "I" I'm afraid it won't get backed up properly. I think I can configure ATX to backup to c: but that won't help as my backup program doesn't automatically back-up bck files. Thanks for any pointers Carolyn

You may want to use form 982 to account for the 1099-A. You don't have to report the income but I believe there is a box you can check off so that you don't get any IRS mismatch inquiries later on..

Publication 908 - I read it about 5 times last week trying to understand everything. I don't think I understand half of it yet...but I grasped enough to get a return done. Be sure to get copies of clients bankruptcy petition, statements etc. -these really helped me see what exactly went through the bankruptcy. You will probably find the rental just comes off the return IF the property was surrendered in the bankruptcy. Caution: I don't proclaim to be an expert! Carolyn

This is a chapter 7. Here's the rest of the story. I received this from the attorney this am:

Yes an ATX question. It seems wrong to input a slip not as shown. I completed the return by entering a dollar value by drilling back from the 1040. There was a spot I could enter the taxable amount without overriding. It just seemed awkward.

I'm reading PUb 908 PG 24 "reduction in tax attributes"

I'm afraid in doing this that the reduction in tax attributes won't be correctly calculated. This client paid in some money to the estate to keep some assets. I'm going to get what paperwork I can but if no 1041 has been filed I guess I just have to calculate the reduction as if one had been prepared. The reduction in tax attributes rule is there so that the client doesn't get double benefits ie debts written off and keep tax basis -don't you worry about this aspect?

I use primo pdf to password protect pdf documents I wish to send to clients. I have adobe professional, but find the primo pdf password protection easier to apply.

If the assets were sold in the bankruptcy there am I correct in my understanding that a 1041 will have been prepared? And that will deal with the disposition of the assets? And if they are disposed of on the 1041 I can delete them from my 1040 as they no longer belong to the taxpayer? Now with all that said, when does the reduction of tax attributes come into a play?

But is that the correct treatment?

I get lost in the reduction of tax attributes part... The client had about 1 million in debt...bank sold foreclosed property for $550,000. My client however didn't get any 1099-A for this (perhaps because bankruptcy already filed?) I just don't know how to get the assets that were given up off of the return -and if any of the other assets basis is affected.

I have a Schedule F farm client. This client declared personal bankruptcy in 2008, which was discharged in 2009. He filed bankruptcy due to an impending foreclosure on his farm which included his principal residence, farm land and buildings. The bank took possession of the real estate 02/01/09. I'm doing the 2009 1040 and am wondering how I handle this? My questions: a) Should the assets be removed on the 2008 or 2009 return (bankruptcy filed in 2008...title transferred in 2009) b ) I need to remove the property from the Schedule F depreciation. How? What are Proceeds? I don't believe there is a gain or loss (due to insolvency) but I'm not sure how this is reported? c) The client did not lose all his business assets and continued the business after bankruptcy. Can someone point me in the right direction? Thanks Carolyn

Use another PDF printer? I use PDF factory...and Primo PDF..

Yes it is an IRA distribution. I have no problem with the slip it is done correctly. My question is where do you enter the taxable portion of the distribution in ATX if it is not via the slip?

I"m doing a return with a 1099-R. Client had total distribution of $40,000. Box 2A Taxable Amount-blank. Check if taxable amount is undetermined is checked.. Total Distribution is checked off. Distribution code: 1 The program is not calculating the penalty if I don't enter the taxable amount of the distribution on the 1099-r. However the income of $40,000 is flowing to the 1040. IS there a worksheet or somewhere that I should be entered the taxable amount? I can enter it on the 1099-r but since this is not how the 1099-r is completed, I'm thinking this is not the correct place to enter it. If I add the form 5329 and click on the bunny beside Line 1 it takes me to a worksheet and the $40000 can be entered here...it seems awkward and the kind of thing that could be missed in a rush...am I doing this correctly? Thanks carolyn

OK figured out the first part. I had to click on "show all items" in the error box. I have the W-2 submitted via SSA. Now what about the state W-2? For what its worth it's a NM W-2, and I also have one for a VA client.

I'm trying to create an efile for a W-2. I'm getting an error this efile was not created. Check the return errors in red below. OK -but there are no return errors in red below? Has anyone had this problem? Anyone have a solution? Also I haven't efiled state copies of w-2's before -does this go through the SSA site or is it a separate efile within ATX? ATX has an efile checkbox for both the federal and state W-2 but I don't know how the state efiles are handled.

I can't get my signature to appear in the preparer signature field of any of the payroll forms. It is filling my information in as preparer but leaving the signature field blank. I have the signature box checked off on the preparer information screen. Anyone else have this same issue? And if so have you solved it? Thanks Carolyn

I'm working on a Form 943 and can't figure out how to get the program to autofill my signature? It's got the paid preparer information filled in but the signature field is blank. Where is the preference setting for signatures?