kcjenkins

Yes, sometimes we have to go with the best info we have, and the good part is that so does the IRS. If you have tried to get the info from the employer, and it's no longer available, that's the best option I can see.

Check your computer to see if it has dual connectors, if it does, you just plug them both in. The puter will have what it needs to recognize them both. If it does not, go to Best Buy or such, and get them to show you the adapters and they wil be able to show you exactly how to adapt your current computer for dual monitors, I promise you, once you try them, you will never want to be without them. Dual monitors make things so much easier to do lots of things. And SO VERY MUCH FASTER, when you don't have to be jumping from window to window, etc.

I don't think it's in violation of anything, Karen. Probably not a lot of people here who want to move there, but hey, you never know. Certainly does not hurt anyone.

PDF to Word DOC converter When you download or receive a PDF file, it can be frustrating trying to edit it. PDF stands for "Portable Document Format," and it was designed so that users could view the same images and format across operating systems and platforms. All that goes to say that it's easy to open and view without the text looking wonky, but not that easy to change. If you want to edit a PDF file in Microsoft Word, you're going to have to convert it first. You can do that at ConvertPDFtoWord.net. It's simple: Just browse and upload the PDF file you'd like to edit then click the big red Convert and Download button. You can download converted files in .doc and .rtf formats that you can edit in Word. Just be aware that PDF to Word conversions don't always work 100 percent with more complicated PDF files. You might end up with some formatting errors you'll have to fix. There is a downloadable converter available as well, but that's just a free trial. I'd stick with the free online version. http://convertpdftoword.net/

Yes, as I understand the situation, unless he has records of the actual cost basis of the original purchases, and can identify which specific shares he sold, using average cost per share is the best way to do it.

Pacun, I don't think you can ASSUME that 'back wages' were automatically for a prior year. That term 'back wages' could mean anything, time wise. And W-2 wages are treated for EIC purposes as 'earned income' in the year received, period. Even if they include adjustments from a prior year, that is a detail the regs do not address. You are simply assuming, when you say "the mother probably didn't work at all during the tax year", she might have worked half the year, the company she worked for filed bankruptcy, she got no pay for that year, and finally, in the next year, she got paid once the bankruptcy liquidated some assets and had funds to pay the wages owed. Not likely, but possible......

As for the Adobe, here's an eBay offer on a new Adobe Acrobat 9 Pro Extended Full Retail Version with a current bid of $27.00 http://www.ebay.com/...ME:B:SS:US:1123 I bought one through eBay some time ago for a final bid of $59.95

Agree on that point, but without knowing the age of Ann, how can we know if she can claim her, or whether Ann qualifies for EIC? Carol might be 80, Barb 50, and Ann 26, for all we know. Just because the father claimed her in the past does not mean that she's not too old now, does it? [Yeah, I'm being picky, but hey, knowing you, if we'd just said "Yes, because the 8332 does not control" you would have brought up the age issue! LOL}

Clearly, the original 'trick' in this one is that there is not nearly enough info provided to be able to answer the question. I'd want to know the ages of all the people in this one, since all we know at this point is that Barb is 'an adult', and Carol is a grandmother, and we have no idea at all about Ann's age. Maybe Ann is too old to be eligible for EIC? We do know that the money earned was not used to support Ann, so my basic starting point would be "No". But honestly, it's impossible to answer this one with this amount of info.

Now you are changing the question, Jainen. No one disagrees that if you bought the truck intending to use it 'as is', and then you later modify it, you add the new cost of the modification, but reduce by the value of the old part. Which might have some significant market value, or might just be it's value as scrap. The timing is not really the issue, except that when the modification takes place immediately, that supports the position that the part replaced was not a significant part of the value you paid, when it comes to how much should be assigned to that part. But that was not the question you posed. You originally said "Let's say you buy a livable but dilapidated house", then you said "if you just replace the roof instead of the whole structure, what do you do with the basis of the old roof ". To that I replied "if you buy a house that has to have the roof replaced immediately, the old roof would have a very minimal basis, if at all. " Do you disagree with that? And also, if you replace a roof several years later, you still don't have any significant amount to reduce, IMHO, because the value of the old roof is just the value of scrap, if there is any value at all. Which I doubt. I've never seen anything done with the old roofing except throwing it into a dumpster so that it can be hauled off to the dump. What possible salvage value could it have? At least with the truck example, used vehicle parts do often have some value, but it's also an easy value to ascertain, you just call a few salvage yards, and take the best offer you get, and that clearly establishes the FMV. Sometimes, when you do something like put on a special bed, the company that sells the special bed will take the other bed, if in good condition, as an adjustment [trade-in] to the price of the new. Again, that gives you a FMV to use in determining the amount of the adjustment to book-value.

Here is what I saw on that website, when I clicked on the tab for Pricing Tic, Tie & Calculate V 3.0 Price List Summer / Fall 2012 Current List Price: $199 per user Current Discount: $184 per user Valid through 9/30/12

http://www.cpaperless.com/Products/TicTieCalculate.aspx cost is $15 through 9/30/12

I agree with Jack. It's a matter of terminology, but it's because of the differences in C corps and S corps.

Yeah, JB you still have a valid objection here. Their info is very misleading, in the way it is worded. Complain, even if you do not ask for your bananas back.

Well, I'd be inclined to say that if you buy a house that has to have the roof replaced immediately, the old roof would have a very minimal basis, if at all. It's like a case where you buy a wrecked car for parts. You assign most of the cost to the parts you salvage, with only scrap value to the rest of it, right?

Tom has it exactly right.

Actually, focusing on the utilities, I'm now inclined to think they could be considered 'administrative' costs. I don't think that the heirs just have to absorb them, but it's a toss-up, seems to me, whether they are part of the cost of the improvements, my original position, or part of administrating the estate, my alternative position.

I don't know what happened to my post, Jainen, I posted a much longer cite from that pub, it was there when I posted it, now it's gone?!? The missing parts were the relevant part! · Additions and other improvements that have a useful life of more than 1 year.

I think we are having a confusion of terms here. What I assumed [yes, I know, but I had to make some in order to answer at all] was that the repairs were significant since they apparently took some significant time. and based on that assumption, I would cite Pub 523: Increases to Basis • Additions and other improvements that have a useful life of more than 1 year. Improvements These add to the value of your home, prolong its useful life, or adapt it to new uses. You add the cost of additions and other improvements to the basis of your property. The following chart lists some other examples of improvements. Additions Bedroom Bathroom Deck Garage Porch Patio Heating & Air Conditioning Heating system Central air conditioning Furnace Duct work Central humidifier Filtration system Lawn & Grounds Landscaping Driveway Walkway Fence Retaining wall Sprinkler system Swimming pool Miscellaneous Storm windows, doors New roof Central vacuum Wiring upgrades Satellite dish Security system Plumbing Septic system Water heater Soft water system Filtration system Interior Improvements Built-in appliances Kitchen modernization Flooring Wall-to-wall carpeting Insulation Attic Walls Floors Pipes and duct work

Fix-up expenses have always been allowed as an adjustment to basis on a sale of real estate. All of them would normally have a useful life longer than a year and add to the value of the home, or why do them? What you have, if I understand you, is a personal residence of the deceased, which was 'fixed up' to sell, after her death? However, given that fact, you don't really need the expenses, do you? Since the sale was shortly after the death, there should be no gain or loss. The sale would establish the FMV of the property. Now, you could either subtract the fix up expense from that, to arrive at FMV before the repairs, then add the repairs as fix up expense. Or just use the sales price.

That company will make you a shirt that says almost anything you can come up with, in lots of different styles, so it's a pretty neat site to bookmark, IMHO. Useful when you need to come up with a personalized gift, etc.

These products just might be of interest, at least I found them so: http://shop.cafepress.com/tax-preparer

Ah, that explains the reason for the letter.

I have to ask, Jainen, why would not the utilities during the time they were attempting to sell be considered "selling expenses"? It's much harder to sell a house if the utilities are off. I too was a bit confused by the use of the term 'inventory value', but perhaps taxman merely meant the value that the appraiser for the estate put on it? But even if it was 'inventory' in the hands of the deceased, that would not make it inventory for the heirs

Sounds like it's a 'form letter' request. I'm not familiar with NJ returns, hopefully someone who is will chime in. But for what it's worth, I'd agree, just a statement "No children" should take care of 2 & 7. I'd do a Sch C-ez proforma for #4. #5 I'd just give the what they asked for, the W-2s and "No 1099's received". I would not give them anything more, if that does not satisfy them, they will ask for specific additions, but odds are very strong that this form letter will never need more.