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About mwrightea

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  1. mwrightea

    Catch-22 SEHI PTC

    B. Jani Nope sadly that doesn't work in this situation. I appreciate the effort all have put into this problem.
  2. mwrightea

    Form 8283

    ATX used to roll over on 8283 and had a lot more useful features prior to 2012.
  3. mwrightea

    Deceased Client's Tax Refunds

    Since you can check part 2 question 3 yes, and then E file. I would set it up for direct deposit if that is the desire of the personal rep and see what happens. Worst case scenario they issue a paper check.
  4. mwrightea

    Incorrect cost on rental property

    I agree do the 3115.
  5. It hurts me to type "IRS adjusted numbers". I feel your pain....................
  6. mwrightea

    Form 8283

    Love the master form, H8 the 8283.
  7. mwrightea

    Catch-22 SEHI PTC

    I know isn't it great (eye rolling snark) if my taxpayer underestimated their income for 2017, got an advanced premium credit of 12K for their HI and then get to deduct it all on their tax return saving themselves from paying back the APTC of $11644.00 that they didn't qualify for in the first place , as their income was too high. I can take it above the line on 1040 but if I check the box to not take the PTC on 8962 ATX will not let me Efile.
  8. mwrightea

    Catch-22 SEHI PTC

    These clients itemize deductions my first thought was SEHI $5990. which they paid. The $11644.00 excess advance premium to Schedule A medical and I can E file the return. Or Check the box not taking PTC on 8962. payback 11644. take 17634.00 SEHI and then paper file the return. I have never been this perplexed by a tax issue in the thirty years that I have been in practice. I gave these clients the option of IRA and SEP-IRA and they can't swing it. They had an exceptional year last year Earning over 100k in gross SE income and didn't bother to notify marketplace about change in income or make any estimated payments......they really need a hug! Thanks for letting me vent and I really appreciate your help!
  9. mwrightea

    1031 exchange question

    Even though new property was received in 2017 the exchange property was given up in 2016. Consequently the 8824 needs to be filed on the 2016 tax return see line 6 instructions for 8824. If 2016 was already filed you need to amend 2016 with the 8824 and your client will pay penalties & interest if there is taxable gain.
  10. mwrightea

    Catch-22 SEHI PTC

    This has been going on for days, and the clients are not my favorite to begin with......... and now I will lose any money I hoped to make on this return. I have filled out everything in pub 974 at least twice and I am ready to throw in the towel !!! I don't think the iterative method can be used as this is way more than a $1.00 difference. Back to clawing my eyes out!
  11. mwrightea

    Catch-22 SEHI PTC

    I have this exact problem and am using ATX software MFJ No dependents Total income $82932. SE Income 73, 045. Deductible SE 5161.00. 1095A Part III Col. A 17634.48 B. 17662.56 C. 11644.32 Taxpayer paid $5990.00 in premiums. 8962. payback $11644.00 but when added to SEHI $5990.00 Total 17634.00 SEHI then the 8962. shows a net premium credit of $192.00 and no payback? I know this cannot be right. I have been wrestling with this for days and I just want to poke my eyes out!
  12. mwrightea

    NT: Too funny!

    Oh My, Coffee just shot through my nose null After my ACA conundrum I really needed a laugh! Thank you!!!
  13. mwrightea

    Summer Gathering

    I would love to see Rita's back 40, I have a couple that need a hug right now. Sorry I can't be there.
  14. mwrightea

    Self Employed With Advanced Credit - OH SHIT!

    I'm using ATX so I have to use the worksheets in Pub 974 and I can't even get close to a $1.00