Marie

not sure how to mark the Sch D so it shows as a like kind exchange?  is that where I start?

ok, thanks

Can not get this form to work for me. Spent an hour last nigh.  Very frustrated. 

sold property for $612000, put $300000 in escrow for exchange ( had $45000 as profit to pay on ).  purchased new property for $510,000  basis should be $210000.  worked with the Sch D and the 8824 and nothing came out right.  Any one have some help for me?  please?

Client took more than $100,000.  Using a third for each year and 8615E, but 10% penalty is not showing up this year.  When does client pay that? 

please, give me some guidance

SEP AGREEMENT SAYS WORK FOR ONE YEAR, AT LEAST 21 YEARS OF AGE.  YOUNG MAN HAS WORKED OVER 1 YEAR, AND TURNED 21 IN NOVEMBER 0F 2020.  DOES THAT MAKE HIM ELIGIBLE THE WHOLE YEAR, OR ONLY THE MONTHS HE WORKED AFTER HE TURNED 21?

NOW HE HAS QUIT IN fEBRUARY.  WILL HE BE ELIGIBLE IN 2021, I THINK SO, JUST NOT SURE ABOUT 2020

I have several clients who have not received their refunds.  Many have EIC, is that the problem?

On 4/1/2021 at 1:47 PM, KATHERINE said:

Hi Marie, I think you can carry to future to use, because if he had enough tax liability, then he could use them all.   So, he is the owner of the credits, he sold the house including the equipment, but since it was not new, the new owner cannot take it because it was not installed by the new owner.   How do you think?

sounds good , thank you 

so far behind, too.  Glad to know I'm not the only one.  Me too, have a client who owes, I've redone twice, and still the same.  He says it isn't fair.  I said, not enough withholding.  Told him the same last year.  Ready to send him on his way. 

Taxpayer put solar panels on his house in 2020, qualified for the residential 26% credit.  Couldn't use a lot of credits this year, I think it was misrepresented,  but  that subject has been discussed.  Now he wants to sell his home.  What happens to the left over credits?  He gets to keep using?  Can he sell to the new buyers?  

OK, GOOD, THANKS

Sister is filing 2020 tax return and using 1310 because estate was considered a small estate (not enough money).  There is no checking account for the estate as there is none needed.  Except maybe to be able to cash the check.  Does the check come in the living sister's name?  or in the Estate of Dead Sister?  

HAVE ANY IDEA WHAT THAT AMOUNTS TO? 

is it too late to file a 943 for farm wages for 2020?  amount due is below $2500

thanks for all the comments.  Always good to get other views.

I would imagine there was an informal life estate.  daughter was only child and it was done just to simplify 

Mother put only daughter on her home so it would pass easily.  mother died and daughter sold.  Daughter never lived in the home.  Does she get full FMV on the home or only FMV on the half she inherited? 

Does this mean no payback on the obamacare, no matter what your income is? 

ok, thanks

Client made a deal to sell property in 2020, but because the title company is so far behind, the actual exchange of money won't be until 2021.  Can I sell the property and pay on the profit in 2020?  If so, how do I handle the 1099 in 2021? 

I have the same fears as you with numbers changing before efiling.  I don't do returns with clients sitting at my desk, they drop off and come back when I'm finished.  Sometimes, that could be several weeks if they are out of town, or just not in a hurry.  

Lots of time recreating.  Don't like this.  Is it just ATX or all software? 

Maybe discussed before, but what was the reasoning on rejects after 5 days? 

the amount is modified AGI , the amount on the 8962.  No non tax income.  I can do an IRA, which we will do to get it down to under 400%, but I was wondering if I have a wrong chart? or why my numbers aren't panning out?   $68057 shouldn't be 401%, according to my poverty level chart.  Without an IRA they will pay back $18000 - ridiculous!!  

My client made $68057 my chart says $68960 is 400% of poverty.  At this amount ATX is saying a complete repayment of the PTC .  Where is my mistake? 

i wondered that too