carolynm

I'm preparing a 1065 for what amounts basically to a holding company. The business has invested in horse racing enterprises and simply receives 3 Parternship K-1's. On 2 of the K-1's the entity is listed as a limited partner, and on the 3rd nothing is checked off. The 3rd shows SE earnings (negative figure of $300) I have inputted the K-1's and divided up the amounts amongst the partners and now I see all three K-1s have been factored into the SE Earnings calculations passing through to the individual partners. I have inputted zeros into the box 14 of the K-1 input sheet but the program keeps including the 2 K-1s that don't include self employment earnings in the calculations. I can override but I'd like to know is this my error somewhere or is the a program issue? If a program issue this may be the straw that broke the camels back for me. I'm on the verge of switching... Looking at the schedule K detail items worksheet calculation for Line 14 it is says it takes Lines 1-3 add them and then deducts line 4. For limited partners this is not correct. I have the limited partner field checked....anything else I could be doing wrong. Thanks Carolyn

I'm preparing a return for a couple who bought and sold a rental property in 2006. The federal 4797 shows a gain of $10,000. For some reason this figures is flowing to Schedule T as if it is different for state purposes....am I perhaps entering something wrong? The basis and sales amount is the same for both the State and Federal returns. Carolyn

Thank-you Don you have echoed my sentiments. I think it's great if some of you have time to do all that checking - I don't. I do a thorough job but do not compare every page. I do compare tax summaries and do a general review once I'm complete. An example: Yesterday I was entering information into a return for a fellow who had a marginally profitable business by all outward appearances. The Schedule C was showing $20K in taxable income and I knew it was wrong and was able to determine what was missing after going through supporting documents. I don't just enter and print. I do however rely on my program to do the calculations correctly. Or publicize what it does not compute. I can easily override or enter the correct information and go on but that ALWAYS makes me wonder if I'm the one making the mistake, and inevitably I waste time trying to pinpoint the source of the error. KC -no I was rolling forward the right return. I even tried doing it a second time to be sure. I'm thinking it's something to do with the fact that it is a 1040X - all I know is I"m getting an incorrect result rolling forward this return. So back to the topic at hand -am I the only one finding inconsistencies in the program? Each year I run across something. I remember last year there was a depreciation schedule that would not roll forward come thick or thin. With Tech Supports help I finally got it to work but we had to jump through many hoops and I probably spent about 5 hours on the issue - I could have easily reentered the list by then. Carolyn

I've been a Max user for several year and though I like the program I have one huge issue that might convince me to switch to another program. Several times during the course of each year I'll run into a situation where the program does not calculate a field properly. After an hour or two with support we usually end up deleting that form from the return, creating a new file or something similar. Just this week I was working on a return that I remembered had prior year NOLs -but they weren't showing up anywhere in the current year file. I opened up the 2005 file (which is an amended 1040x) and sure enough the worksheet was there along with the NOL on the 1040. I have no idea why this didn't roll forward. What if I hadn't remembered that this taxpayer had losses? Perhaps I haven't ticked a box somewhere but I'd hope MAX would indicate that to me in its diagnostics. This is just one example of problems I've had. Does anyone else experience these kind of problems? I don't really want to switch programs but I'm at the point where I don't have any time to waster fussing with a program - I need it to work reliably. Carolyn

I'm betwixt and between on whether I should renew with ATX or not. I'm very perturbed with their actions from last year ie yanking our bulletin board without notice. I also am very tired of so many updates. I've had a lot of odd issues over the years with ATX but have been able to work through them (but time is money is it not?). I cannot say that I've not had to amend a return due to program issues. Where does this leave me? I prepare approximately 100 personal returns, 10 1065's , 10 1120's. I also prepare state returns for many states. I used ATX's W2 and 1099 efile system last year and did like it (though again they changed something which really messed me up and that was the way files are imported from Peachtree). I use ATX to prepare 941, 940, 943's and the various state payroll forms. Occassionally I'll access a state franchise or sales tax form via ATX. So what are my options? I tried intellitax by Orrtax one year and had terrible problems but that was mostly due to their delivery of all updates via internet when at that time I did not high speed access available to me. I downloaded their demo just last week..but the file was corrupt when I went to open it...that does not bode well to me. Though the program for $295 gosh that is tempting (through TAx Refund Express) TAxAct has always intrigued me. It looks like a solid enough program and may be my choice. I don't think I've read of any complete foul ups with it. It does bother me however to go with a company that markets to individuals not just tax professionals. And for the payroll solutions -what would be the best option there? I don't do a ton of these filings. I do about 10 W2/W3 reports a year, and have 2 clients I regularily complete 941's for during the year as well as the corresponding state report. Curious what you all think is best? Do you think ATX will be around in a few more years? Will support dwindle? Thanks Carolyn Perplexed in Texas!

I agree wholeheartedly here. And when I do have to override something it makes me questions what I'm doing hence this post. I just was wondering if I am entering something wrong, or if the program is calculating something wrong..or I am not calculating something correctly. Yes you're right basis would be $7800 for 2003. And this is where I'm not sure I understand the rules.. Business use declined to 55% in 2006, so do we have to recalculate the Sec 179 limit using the 06 percentage? I know if we did fall to 50% or below we'd have to recapture excess sec 179. So is this what is going on: $42000x.55=23100 Oops we've already taken $30,000 in SEc 179 so are not allowed depreciation? I think I may be beginning to see the light on this...

Thanks for the reply -there was no bonus depreciation taken (this truck was bought right at the beginning of the 2003). So there was $10,800 left over at the end 0f 2003. So would the following be correct: 2003: 10,800x.2=2160x.9=1944 2004: 10800x.32=3456x.9=3110 2005: 10800x.192=2074x.55=1141 ATX calculated 0 depreciation in 2005 and I get the above. Can someone stick the numbers in their program and let me know what result you get? I find this perturbing. Thanks Carolyn

I have a client who bought a vehicle in 2003 for $42,000, it wasn't subject to restrictions and they elected to claim a SEC 179 deduction of $30,000 that year. Business use has been 90% up until 2005 (yes I'm doing a 2005 return), when it dropped to 55%. When I enter the miles etc. ATX is not computing and depreciation in 2005 because it is calculating .55x42,000 =21,000 then looking at the SEC 179 of $30,000 and telling me there is no remaining basis. I'm thinking this is wrong. The 2005 use is 55% but 2004 and 2003 were 90%. It should have a remaining basis at the end of 2004 and that's my start for 2005 no matter what my new business use is. I'm overriding the fields to calculate a depreciation and just thought I'd double check that I'm not missing something here. Thanks all, glad to see THIS board is still going strong. Carolyn

I plan on evaluating alternatives in August after my vacation. Each year there is something that po's me with ATX but I've stuck it out since conversion is such a pain. Last week I spent about 4-5 hours trying to reconcile a depreciation report to a a balance sheet only to find that the total "assets sold" figure didn't add correctly on the ATX report. Grrrr.....and during tax season the constant updates are annoying and time consuming...and even now I just efiled a return to find a form needed updating...in July?? What gives... Anyone try 1040works.com ? I do like having so many none income tax forms at my finger tips such as payroll and sales tax etc. But maybe I need 2 programs... I may end up renewing but not happily...and I certainly will push for the 10% discount if and whenever I do renew...