taxit

Thank you Kate. 

Thank you for your response. I know the deferred comp is not pension. My problem is the software is showing a $20,000.00 pension exclusion for New York IT-203. The NY instructions for the pension exclusion mentions W2 box 11 deferred comp but does not give much detail. This is the only NY return I do and have done it for many years. This is the 1st year my client has deferred comp in box 11 of his w2 and the pension exclusion is showing up.

Need clarification for NY pension exclusion

Yesterday, 11:31 AM

New York preparers - Thanks for any assistance!

I have a PA resident working in New York. The W2 shows an amount in Box 11 , nonqualified deferred comp. The software is allowing a $20,000.00 pension exclusion on line 28 of IT-203. The NY instruction say if there is an entry on line 10 NY column you may qualify for the pension exclusion. There is no entry on line 10. Does the deferred comp qualify for the exclusion? My client is 65 yrs old.

I am having he same issue.

I read last night that since the bill did not make it into the American Rescue Plan as an amendment, that it would not likely pass before the April 15th due date. So, I think I I will get these returns processed. 

Thanks for the responses!

Is anyone still holding returns with unemployment income?

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It would not show up on the worksheet for the 8880. However it would still be part of the adjusted gross income. Probably enough to eliminate the savers credit.

I believe the extended due date for the 1041 is Sept. 30, 2019.

I switched from ATX for 2013 tax year same as jklcpa. I much prefer Drake for the same reasons as the others have mentioned. It is nice not to be afraid to do an update. Also, most updates take less than 15 seconds.

It is a 2017 fiscal year 1041, so 2017 is correct. The K1 will show that is a fiscal year. Anything reportable for the beneficiaries , will go on their 2018 tax return. Also, if the decedent passed away in May of 2017, your end of year for the return is April 30th 2018. Due date would be August 15, 2018.

I did the same as Lion except I had it installed to the side of the door with a box mounted on the wall. That way all client paperwork drops into the box and not on the floor. It works very well.

I had the same problem with a 2012 1040 efiled through ATX. It turned out that the return was rejected the same day I efiled but ATX did not post the reject Ack. I called ATX support and they had no idea why it was not posted. The reject Ack showed up about 2 hours after I spoke to support. I paper filed the return since I could not figure out why it rejected and ATX did not have an answer.

Just an update. I called ATX last Thursday , they were closed for the 4th. I called yesterday and was told they would look into it. I received the Federal and PA Acks about an hour after the phone call. The Federal Ack shows an Ack date of June 29th , the same day I efiled it. For some reason ATX did not post the Ack.

I still use ATX Payroll Compliance and have a client ID. My office efiled several 2012 tax returns through ATX in 2014 without any problems. The ATX returnquery report shows the federal and Pa returns as awaiting Ack. I don't know how often ATX checks and hangs Acks for previous years. Now 31 hours seems like a long time for the off season. Thank you Judy for your response.

Thank you Jack especially for the young part. 2012 is the last year I used ATX so I wasn't sure how long an ACK takes. I did a 2013 return for the same client through my present software and had my ACK by the end of the same day.

I efiled a 2012 return on June 29 and have not received an ack. It's been over 24 hours. Does anyone know if this is normal for a 2012 return through ATX? Thanks for any Information.

If you are asking about PA locals, yes Drake has a form.

With ATX I would efile 1099's through ATX. It looks like I need to file form 4419, App for filing information returns electronically(FIRE),and upload the 1099's if I want to do them through Drake. Does this sound correct? Thanks for any info provided.

the payment may be part of the Independent Foreclosure Review which started sending checks out in mid April. Your client would have received a letter with the check. I have a client who brought a letter & check in. On the letter there are two web sites listed for more information. www.occ.gov and www.federalreserve.gov I also found info at the BBB News Center. They will receive a 1099 Misc if the amount is over $600.00. My client received $3750.00.

Jack thank you for hard work and for sharing. Please include me as well. [email protected]

I believe S179 does not apply to rentals.

You are not the only one. Sch d , Sch e , Fixed asset entry and k1 is where I notice most of the speed issues. Also, on the return manager.

My account was good until December 2013 before I ordered. It's now good until December 2014. I will look into the discount.

I ordered Drake about a month ago but was not aware of a discount for The Taxbook Weblibrary. I ordered the Web Library Plus on Tuesday and paid $213.00.