kcjenkins

Absolutely they are employees, given the rules you listed. Needs to do W-2s. Withholding, the whole nine yards. It's not worth it to take the risk, he could end up hit with huge amounts for the payroll taxes, both sides, whether he withheld them or not, plus penalties and interest.

Good thinking, Cat. :rolleyes:

So it all happened in 2010? Or was it to the Roth in 2010. then re-characterized in 2011?

Sad news. Want to let you all know that Karen Hall passed away from cancer last week. She was a true class act. She was one of ATXs Tax Managers, and one I have quoted oh the board several times, as she was always very helpful to me. I had some dealings with her on the Forms Pipeline, where she was always very helpful to me. She had the handle "karenfl" on this board. She was also known as ATXKaren on the official board. I don't think that the company posted any kind of recognition or tribute to her on the official board, even though she had been with the company as one of the mainstays of the development/tax manager team for over ten years. I see that as another sign that they are too big to appreciate the fine people they inherited when they bought ATX. I know I will miss her, because I never ever sent her a question that she did not get right back to me, and work to help me with the question, whether it was in her area or not.

I agree, it makes good business sense to pay a professional. It's not just knowing where the fan is and how to unplug the old and plug in the new, it's having the right tools, knowing what other problems to look for, knowing whether the fan is the problem, of is simply reacting to the real problem. It's a lot like taxes, you can get free Turbotax offers, but what you don't get is the knowledge to understand the what and when of the options within the code, plus the peace of mind of knowing that the questions were answered correctly.

As I understand the facts, these suspended losses were ordinary, and thus would be reported on the E page 2.

Me too, John.

Have you ever wondered why A, B, C, D, DD, E, F, G, and H are the letters used to define bra sizes??? If you have wondered why, but couldn't figure out what the letters stood for, it is about time you became informed!!! (A} Almost Boobs... {B} Barely there!!! {C} Can't Complain! {D} Dang!!! {DD} Double dang!!! {E} Enormous!!! {F} Fake!!! {G} Get a Reduction!!! {H} Help me, I've fallen and I can't get up!!! LOL

I agree also, the 50K limit is for sales in a particular year, it does not mean you get to take another 50K in the next year. Unless there is a NEW sale in the next year, of course.

I agree.

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Thanks, Tom. Everything OK so far, although we do have warnings again today.

I'm just happy to know that your 'real' office does NOT look like that, so I don't have to feel so bad about how mine looks. :rolleyes:

King Friday the 13th on Mr. Rogers' Neighborhood used to sing a song: "Propel, propel, propel your craft, Gently down liquid solution. Ecstatically, ecstatically, ecstatically, ecstatically, Existence is but an illusion."

OK, I should have read the instructions before I typed. You are correct, you do need to amend. But in this case I believe they will process those amendments, since their own instructions say to do it that way. Besides, processing them is just going to be a matter of adding the 8839s into the t/p files. Assuming you are not changing anything else, and your 'Explanation' on page 2 makes it clear that is why you are amending, it should not be a problem.

You can direct your backup files to a different drive, but not the data file. You can however copy that datafile to another drive, so that should you ever have to reinstall the program, you can then copy the data file once the new install is working.

Yes, Jack, although I am not sure you even need to amend, I would try just claiming the carryforward and include a worksheet showing the calculations from the original year and through each year to current.

Could be. We voters really do not seem to learn, do we? We think 'our guy' is OK, no matter which side he/she supports to run things. We accept the defense "I voted against it, but lost" even when it's his/her party that blocked it. We treat the vote as a popularity contest, instead of the serious business that it should be treated as. This next election, I am going to do everything I can to educate as many voters as I can that WE NEED TO CLEAN OUT THE HOUSE, THE SENATE, AND THE WHITE HOUSE, of all who have been there long enough to be part of the group that created this mess we are in. Regardless of party, regardless of how 'nice' they are, regardless of how much power they have based on Committee, etc. The point is that all of them need to be reminded that they are only there because WE SENT THEM THERE, AND WE CAN FIRE THEM IF THEY THINK THEY DON'T NEED TO LISTEN TO US. If we do that, we could get back to being a country where the people control the politicians, not the other way around. Just one little example. They set up the Energy Dept for one reason, to guide us to 'Energy Independence'. How's that working out for you?

I separate the backups, actually backing up to two different hard drives on two computers, plus backing up to a flash drive, which process I rotate between three flash drives, but see no reason to separate the program data.

I saw that but do not believe it. The CODE says you have three years from the filing deadline, and the filing deadline in 07 was 4/15.

Yes, given the timing, I'd just efile without the kid, so the payment goes through, then amend if you need to afterwards. It's not worth the stress at this point.

Yes, thanks to you guys I got the right form emailed to me, and now have it done and gone. I sure do appreciate the help.

No, that just strengths the reasoning, if anything.

This is one of the best explanations of how congress works. It makes no difference whether one is a Democrat or a Republican, this is something to ponder upon, long and hard. With few exceptions, our politicians are out of control, causing both sides to let us down, and by doing so, they are casting our country into a path of great peril. For the life of me, I cannot see how anyone can deny we are in grave trouble, and that our enemies know it. This is the only answer I have heard that makes sense. We have got to wake up... *********************************************************** If you start with a cage containing five monkeys and, inside the cage, hang a banana on a string from the top. Then you place a set of stairs under the banana. Before long, a monkey will go to the stairs and climb toward the banana. As soon as he touches the stairs, you spray all the other monkeys with cold water. After a while, another monkey makes an attempt with the same result ... all the other monkeys are sprayed with cold water. Pretty soon when another monkey tries to climb the stairs, the other monkeys will try to prevent it. Now, put the cold water away. Remove one monkey from the cage and replace it with a new one. The new monkey sees the banana and attempts to climb the stairs. To his shock, all of the other monkeys beat the crap out of him. After another attempt and attack, he knows that if he tries to climb the stairs he will be assaulted. Next, remove another of the original five monkeys, replacing it with a new one. The newcomer goes to the stairs and is attacked. The previous newcomer takes part in the punishment....with enthusiasm. Then, replace a third original monkey with a new one, followed by a fourth, then the fifth. Every time the newest monkey takes to the stairs he is attacked. Most of the monkeys that are beating him up have no idea why they were not permitted to climb the stairs. Neither do they know why they are participating in the beating of the newest monkey. Finally, having replaced all of the original monkeys, none of the remaining monkeys will have ever been sprayed with cold water. Nevertheless, none of the monkeys will try to climb the stairway for the banana. Why, you ask? Because in their minds....that is the way it has always been! This, my friends, is how Congress operates... and is why, from time to time, all of the monkeys need to be REPLACED ALL AT THE SAME TIME.

I agree with Jainen, it is not SE income to the son.