PATaxlady
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PA accepts federal extension and other years I could choose on data worksheet that the state was on extension. This year I see no option to do that. I can't force a Y into the box on page 1 of the PA40 either. The only way to get a Y for yes in that box is to open up a state extension form which I did not file. Anybody know what my options are?
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She does qualify for HH and the children lived with her. She has signed and 8332 so he can claim one of the kids, however he will have to repay based on his income from other years. He has not brought his information to me yet....so I am waiting.
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I have a couple with 2 children who filed jointly last year. They did receive that ACTC. This year they are divorced and each is claiming a child. I think that I just put the amount IRS said they received...his amount on his tax return and her amount on hers. One of the dependents is under 5. Am I doing this correctly?
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No one else can claim him...his income is too high and he provided more than half of his support.
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My client is not a dependent of anyone else for 2021. His parents claimed him on their 2020 return and got the $1400 stimulus. Is he able to recover it on his 2021 return?
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My client rented a house for years and then converted it to personal and now renting again. How do I treat depreciation? Pick up where it left off with the amount left? How many years...does it start over? Thank you for any help!
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thank you everybody...I just didn't know how to show on the tax return. Taxed but no penalty. I did use the 5329 exception 12 and will attach a statement.
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PATaxlady joined the community
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Client took a total 401K distribution and then rolled it over to a Roth IRA within 60 days. I know this distribution is taxed but it should not be subject to the early withdrawal penalty since it was rolled within 60 days. If I say it was a rollover it is not taxed or penalized. If I do not say it is a rollover it gets taxed but also penalized. I looked on the 5329 for an exception but there is none. Does anyone know how to report this so that the distribution is taxed but no penalty applied. Thank you in advance for any help out there.
