terry

Are farmers going to get an extension if have not paid any estimates.

Due to 4562. I alot of them,usually pay by March 1st.

iNTIALLY WITHDREW 20,000. WITHIN 60 DAYS RETURNED 10,000. HOW WOULD YOU ACCOUNT FOR THIS ON TAX RETURN?

THE 1099-R SHOWS THE 20,000. THANK-YOU!

Thank-you. The spouse is going to be receiving this until death. I doubt that insolvency will work. This was credit card debt.

Interest in a pension plan. Are they looking for the current value of the plan?

thanks in advance!

Yes. Another persons opinion was that it should have been reported on a 1099-B not a 1099-misc.

A farmer brought in a 1099-misc. (non-employee comp. ) for a storage & mineral deed. Does anyone know how this should be treated on the tax return?

Thanks in advance!

This is a new one for me, T/P has adult handicapped child living with her. This year W-2 is issued to T/P from state of Michigan showing wages paid. The handicapped adult is the employer. The parent is the employee. No social security or medicare tax witheld.

Reading Sch H I don't believe this form has to be filed. Is the parent able to file 1040 & claim EIC? The only income for Federal is under $5000. Any thoughts would be appreciated!

I see that the bill passed so now employees get a one year 2%

tax break on Social Security withholding...Do self-employed

persons also get an additional break? I have seen nothing on

this subject yet.

I read that self-employed will pay only 10.4% on SE income.

New vehicle bought in 2010. Used over 50% for sch C business. Used less than 50% for Sch E rental. Atx is calculating MACRS & bonus for Sch.C & S/L for Sch E. My Question is how to enter this into program correctly since the vehicle is used roughly 90% business total. Thanks.

Is the ATX Server down? Was trying to recieve efile acknowledgement or connect to mysupport. Cannot do either. Thanks.

Was the taxpayer in the business of farming?

No, has a small orchard on his property.

T/P donated bushels of apples to local school which were grown on his property. Wanting to take FMV per bushel. This is a first for me! Pub 526 refers to food inventory but doesnt really relate to this situation. Thanks.

I agree... the worksheet asks for the amount from 1040 line 7.

Thank-you, I wasnt sure if this was considered earned income. No other wages, just unemployment along with sub pay.

Is supplemental unemployment benefit fund pay reported in Box 1 W-2 eligible for EIC, CTC & Sch M? Thanks in advance!

1099-Q is in Mothers name for her 2 children. Children were young when established, now in college. Box is checked, the recipient is not the designated beneficiary.

Does this cause a problem with taxable earnings & penalties? Mother does keep detailed records of withdrawals.

Thanks in advance!

T/P received SSA-1099, attorney fees are also listed. Would these be deducted on Sch A subject to 2%? Would medical record fees tied to the disability income also be deducted? Thanks in advance!

You didn't give dates, but the holding period of gifted property includes the donor's holding period. For the portion the sons inherited, the holding property of inheritied property is always considered long-term.

This is stock purchased 30 years ago with sons names on with hers. Hmmmmmm. I see the responses are varied. Thanks again.

is this a 2009 or 2010 estate?

Mother died in 2008. Sons sold stock in 2009. Sons did not contribute to purchase. Wouldnt the entire value of stock been included in her estate, therefore allowing sons full step-up? Totaling confusing myself now!

Deceased taxpayer held stock joint tenancy with two sons. I am correct that each owned 1/3 interest & Mothers 1/3 would receive step-up or step-down. Two sons basis would be original carry over basis. Thanks in advance!

Couple divorced, one child, joint custody with child spending equal time with each parent. Divorce papers state parents are to alternate years for dependent exemption. Both parents have their own homes. Is there anything preventing them from also alternating HOH status? Looking for how others treat this situation.

Thanks in advance!

Is anyone e-filing form 8283? Recall a note about rejections & Feb 4th?

Thanks.

Its been awhile since Ive had one of these.....Stock held by two individuals. Not husband & wife. One passes away. The survivor didnt contribute to purchase. Not community prop state.

Surviving tenant still entitled to full step-up, FMV D.O.D? Thanks in advance!

T/P sold shares of Metlife in 2008. Is basis still zero? Thank-you!

Thanks! Was hoping for at least the business use %. Drive is a few hundred feet long & expensive!

Any deduction or depreciation for a paved driveway installed to home? T/P has home office for business & clients. Thanks in advance!