taxit

Why not just make him an employee. You get the same results without the question of his ownership in the business.

Thanks KC.

On Line 11a of 2555-EZ, I have always in the first year of establishing a foreign residence just put the foreign address and the date established. My client asked why I don't show the US address for the first 7 months also on line 11a. I went to the instructions & it says your tax home(s) for tax year 2008. Does anyone know if I should be showing both addresses? Thanks for any information!

Gary

Just the 5 beneficiaries.

Carolyn I think you are right,it is ATX. I have 9 computers on a network. I had them all upgraded in November 2008 and they ran 2007 ATX very well. After loading 2008 ATX they all slowed down to some degree. As we opened more returns the speed is affected. Any other program we open runs fast. I've loaded Drake to try it out and it ran much faster than ATX. That being said, I've been using ATX for over 10 years and I do like ATX, it's just slow.

A client called yesterday, he received his refund check but it was made out to his wife only. Problem is he filed married filing separate for 2008 and the previous 3 years before that. He has not lived with his wife for over four years. He had already mailed it back to IRS and called them before he called me. They told him they could reissue the check but it would have to be in both names. I guess we will wait to see what he gets back from them.

This is my first 2555 for this year, its completely different from last year's form. Can someone point me in the right direction to get the w2 income to populate on the Form 2555? Thank you!

If you just delete the sch c, the assets will automatically move to unassigned .

The duplicate status means the DCN was the same as another return. You need to recreate the efile and efile it again. You will see the DCN will change after you recreate it. As long as the refund or amount due is the same as the original , you do not need to have the client sign the new 8879. However, you should attach the new 8879 to the signed 8879.

If its just a pad, 15 yr land improvement and yes it qualifies for bonus depreciation.

Just use the new address.

Why do you feel they should not claim her? The tuition was most likely paid from loans.

Go to the tax liability on the 1040 ,click on the bunny, click on the tax liability shown for capital gains you should be at the worksheet or close.

I agree the program is working well but slow.

I have a truck driver working for a company. Do you have to override the meals alotment to get the DOT allowance on the fom 2106 or is there a separate spot to enter for DOT meals? Help:)

Sara

At the top of the 2106 is a check box for the DOT meals.

That did not work either. I really don't want to call customer service, but if they changed it, how would we know?

I believe they have to have the SS# in order to file. According to instructions it only takes about 2 weeks to get a SS# assigned. It does say if you will not have the SS# before the due date to file an extension.

My client's father passed away in 2007 so he had a 1041 prepared for his parent's estate. The son is the beneficiary and was left the house that his parents lived in. He sold the house 3 months later after the death of his parents for a loss. The preparer filed a schedule D listing the sales price(78,000) and the cost (83, 276) leaving a net loss of (5,276). I see on line 4 of the 1041 that the loss taken was (3,000). Does my client carryover the remaining 2,276. on his personal return for 2008 as well as deducting the property taxes he paid on his deceased father's house of 2008. His tax preparer told him he could deduct the net loss of 5, 276 and the property taxes paid on parent's house for 2008. Is this correct. Should he only carryforward on sch. D the 2,276. or the 5,276? Also, would the description of property be listed as "Residence of the Deceased" and show the date acquired and the date sold for a short term loss. He only had possession of the property from June 2007 until Jan. 2008. The CPA told my client to use for taxes for 2008 the loss on parent's home and also real estate taxes paid on his parent's home. What are your comments?

Thanks,

jacksorh

Your client may have the full loss to show on their return. They should have a 1041 K-1 which should show what they have to use. If the expenses on the 1041 were enough to wipe out the income on the 1041, the capital loss may not have been used. Although it still would have been shown. I believe there is a 1041 K-1 floating around somewhere.

I know this is probably a basic question, but I'll ask it since I'm confused. What determined why the house sale was shown on a 1041? When my clients have sold inherited houses (or stocks, etc), I've shown it on the recipient's 1040. I have looked at the instructions for the 1041 where it states that it is reported there when the house is sold by the estate. What determines if the estate or the inheritor sold it? Is it the name on the closing papers?

Thanks for helping me wrap my brain around this.

If the deed was transferred to the beneficiary and then sold it goes on their 1040 tax return. If still in the deceased name when sold it would go on the 1041.

The W2 category is not showing in my return manager. It was earlier. My W2 type returns are now listed in the Other category. I rolled over a new W2 return and the W2 category reappeared with the new return listed under the W2 category. But the other W2 returns are still listed under Other.

Does anyone know how that might have happened? And can I fix it, move them back into the proper category? W2 is still listed as type under the Type column.

You may have a space in front of W2.

has anyone received an ack for NY-204LL? prosystem and lacerte are having problems getting them approved and are working with nys on getting mandatory efile waivers. atx can't even tell me if they are having an issue with them and unable to tell me if any have gotten approved yet. person at cust service is obnoxious and condensending and said if there was a problem i am sure they would have communicated with you. i asked for second tier support and she said, "thats now how cch works i gave you all the info available"

these are due 1/30 and i can't find out if they were even sent to ny yet.

Have you tried contacting NY ?

Friday's ATX-TV or the "good morning America" version had a piece on this. They indicated the problem is being sporatic and they are asking anyone with the problem to contact them and explain the system set up, the printer, the forms, etc so they can isolate the problem and do a fix.

I sent tech support an email with the information you mentioned right after I read your post. I haven't heard anything yet. It still takes about 8 min before the printer starts to print. After it starts it prints very fast. Someone from the CCH/ATX community said they tried the print driver from a hp1200 and it improved the print start speed. I'm going to give it a try.

Thanks for the info.

Is anyone else having an issue with printer speed? I tried to print my 1st 1040 return today ,1040-a-c-se-4562-PA40-c, and it took 8 min before it even started to print. Once it started it printed very fast. In 2007 ATX the same return started in about 15 seconds. Thanks for any info.

Have a Sch. F with self-employed health insurance premiums. I complete the Sch. F - which shows a profit and then go to the SE Health insurance deduction worksheet and enter premiums paid in #1, however the profit from the farm is not coming through on Line #4 - it is showing 0. If I try to override this field with the correct profit amount, I get the #VALUE on Lines 5 through the end of the worksheet. Anyone else having this problem?

Thanks!

Make sure you have selected the farm at the top of the worksheet.

I tried to rollover the preparer information from 2007, however I don't see it. Is there another way of doing this, also for the e-file, do I need to entered it manually for 2008?

Thanks

If you go to the Rollover Manager and then click on rollover at the top of the screen, there will be a drop down list. Click on "rollover paid preparer information". I have 8 preparers and they all rolled over.