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For those that are getting refunds via direct deposit and can't pay out of pocket, I offer FeeCollect and they love it.  I simply tack the processing charge for the bank product onto their prep fee and we are good to go.   If they don't use direct deposit I will occasionally allow them to pay me when they receive the refund if I know them or their family well.  Otherwise, I quote the fee up front based on the info they give me and tell them that as soon as they pay me I will prepare and file the return.  

On 2/11/2017 at 10:51 AM, RitaB said:

 

 

 

Well, my version is still 16.5.6229.31762.  Is anyone besides Jack able to create an e-file for a non-dependent in ATX while ignoring the issue of health insurance?   If not, I'm keeping my trap shut to clients until something changes.  No need in getting them excited about a return I can't even e-file.

I'm in the same boat as  you RitaB.  Still getting the red error message when the box is unchecked.

Sounds right except that the child tax credit follows the dependency exemption.

I roll them over as returns come in.  Helps me keep track of who I've yet to see as the season draws closer to the end.

I'm pretty sure Kentucky was accepting the 765 by e-file last year.  We just couldn't do it through ATX.  Like you, I'm glad that won't be a problem this year.  Now if only they would approve Form 741 in for e-filing.  A girl can dream....

I am filling it in even though it's not technically required.  Kentucky has had lots of issues with fraud in the past couple of years.  Maybe entering the info will help and maybe it won't but it only takes a few minutes to enter.

What about clients who DON'T have children but qualify for EITC?  So many of the questions seem to apply only to taxpayers with kids but are we inviting trouble if we answer those questions "No"?

It actually helped the performance of my 2015 software - got rid of the dreaded server not responding message - and so far 2016 is operating great with Windows 10 too.

3 hours ago, artp said:

One further thought.  Does the fact that the brother can not deduct the $18K loss  ($30K-$12K=$18K) have any effect on Mom's basis that gets passed on to the son for that 50%? Is that $18K just lost out to everyone?

 

The $18,000 loss would have been dealt with by the brother when he reported the sale of his interest to your client's mother.  It has no affect on your client's basis

1 hour ago, Possi said:

Does he have a large refund? The IRS is holding my 5-digit refunds, it seems. Eventually, they will come. I just tell them that questioning it makes the IRS more suspicious, and they leave me alone...

 

Thanks. Refund is around 4k.  His live-in girlfriend gave birth to their son in 2015 so he filed head of household and claimed the child and the girlfriend whereas he has always filed single with no dependents in the past.  I'm guessing the holdup has something to do with these changes.

I have a client who is driving me bananas!  His return was filed and accepted on February 19th and his refund still has not been direct deposited.  Where's My Refund tool shows that the return is still being processed.  Refund hotline says that the return is still being processed.  He is convinced he is being audited and wants to speak to a real live person and not an automated system.  I have told him to call 1-800-829-1040 but that's not good enough.  Is anyone aware of any other numbers that he could call to speak to someone to find out what the holdup is? 

Kentucky does not require that the filing status follow the federal status.  Most of the time taxpayers who file jointly for federal purposes have a better outcome on the Kentucky return using  married filing separately on combined return.

Per the Form 8962 instructions (as long as all policies were issued in the same state) you should only enter the figure from column b (SLCSP premium) from only ONE Form 1095-A

I have been at this nearly 30 years and many of my clients are like family.  It is sad to see them decline and pass on and sometimes I stop and remind myself that they are also seeing changes in me.  There are a few of my clients that are no longer able to leave the house and so I make a house call.  I'm glad to be able to offer this small service and I am always happy to see them.  That being said, there are also those that make me cringe when I see them coming through the door, but the good far outweigh the bad.

Client purchased a vacation rental in September 2014 which was placed in service in December 2014.  Purchase price was $185,000 - $11300 allocated to land (per property tax bill) and $173,700 allocated to cabin.  In April of 2015 an arsonist saw fit to set fire to the cabin.  The cabin was gutted by fire but not completely destroyed.  Insurance paid $157,000.00 and client spent $112,500.00 to repair the property.  Once the property was repaired the client decided she wanted no part of it and sold it in an arms length transaction on December 9th for $113,000.00.  I keep chasing my tail on this one.  How do I report it?  Do I have to go through the casualty loss calculation on Form 4684 or can I just report everything on Form 4797 for the sale of the property, taking into account the receipt of insurance proceeds and cost of repairs in the calculation of the basis of the cabin?

Per the "My ATX Blog":

CO individual and business- Colorado has notified vendors that they are experiencing processing issues dated back to Feb 10th

That was the problem!!!  I guess I will just mail the brokerage statement with the 8453.  Stick a fork in me. I am DONE!!

Thanks to everyone for all your help and input this year!

This one won't even transmit.  I transmitted an extension with no problem so I am beginning to think it is just something with this particular return.  It has a PDF attachment of a brokerage statement.  I may try removing the attachment and see what happens.  Getting desperate at this point.  I want to go home!

Anyone else getting a message saying "The service is unavailable at the current time"?  I am down to the last one and it won't go.  AAAARRRGGGHHH!!!

Thanks, Judy.  That has been my feeling about it all along and I told them I thought that was the way it had to be done.  They probably won't like it but at this point I don't much care. 

Yes.  It is a professional limited liability company filing as a general partnership.

I agree with Pacun.  Nothing to do until you receive the 1099-R for 2015.

I have a partnership return for a law firm.  One of the partners left the firm at the end of October, 2014.  They changed the name of the firm when the partner left in October and did all the necessary filings with the Kentucky Secretary of State's Office to reflect the partnership name but they are still operating under the same Federal EIN they have always used. 

They don't quite have their info together and have asked me to file an extension for the partnership and the remaining individual partners. They want to file a short period return for January thru October under the old firm name and a short period return for November and December under the new name.  This is mainly so that the previous partner will not have any access to any information regarding the earnings/affairs of the firm after she left in October.

Do I need to file 2 extensions - one for each period and can I even do that using the same EIN? Or do I just file one extension for their EIN and then do the two short period returns when the time comes?

Is there any document which gives her the legal right to live in the home for her lifetime or is it just a verbal agreement between mother and son?  How did the real estate come to be titled solely in the son's name after his father's death?  I don't know what the laws of intestate succession are in your state but in Kentucky the spouse and the children each inherit a 1/2 interest in the decedent's property.  I would think if there is a legal grant of the lifetime right to live in the home then she has a life estate ad therefore sufficient interest in the property to deduct the mortgage interest and taxes.

The flip side is that if your client has medical expenses that are published and shared among the members then he does not have to count the money received from other members as income and he gets to deduct the whole amount as medical expense (subject to the % of AGI and assuming he can itemize, of course).