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Dhawk

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  • State
    MN
  1. Thank you all. I started on the cheap side. If necessary I will move up. I got H&R Block Premium & Business for about $90. The business program looks just like ATX so no learning curve there. The personal program is different from the business but I caught on quickly. The business program covers corps, partnerships, estates, trusts and even payroll. The personal program looks plenty able to handle my Schedule C and rental property. It includes five e-files.
  2. I am retiring. I did a small number of 2022 returns and will do none for tax year 2023. For 2023 I will file for myself, and three or four family members. There will be a Schedule C and E for a rental property and two simple trusts. What should I buy for software? Many Thanks.
  3. Terminating. S Corp has several equipment items that were not sold. Most are fully depreciated. Single shareholder/owner wants to hold on to them personally and sell if possible. How does this work on the 1120s and the 1040? I'm guessing its taxed at FMV on the 1040. Thanks.
  4. I have had prior year e-filing rejection until I got the Submission ID current on the relevant EF Info form. It has to contain the current years date (just after the PIN). Doing this is kind of wierd, something about eliminating the practioner and re-chosing one. It used to be you would discard the EF Info form and re-load it. I don't think that works any more.
  5. With SSA there is only one EIN each. With 1099Rs there can be several 1099s with a total for withholding. Using an average or total for EIN probably won't work. Maybe Customizing Master forms with zeros everywhere?
  6. Think I got the solution. Override the depreciation amount on Form 4562 instead of changing the percentage on fixed assets.
  7. Having trouble getting ATX to do what I want regarding mixed use vacation home rentals for three different clients. Have two problems. Depreciation is hard to get so that the proper amounts carry forward. In none of my cases will depreciation be deducted currently but the carry over amounts are wrong. If you change the percentage on fixed assets, it changes the recovery basis. I plugged my numbers into CFS Tax Tools and got the numbers I expected. CFS takes the 100% rental amount times the percent figured by the personal days and rental days. I think CFS is right as their worksheet looks just like one in the IRS instructions. The second problem is with operating expenses put on the other expense line. They don't get properly carried forward either.
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