Eli

http://www.valleycentral.com/news/story.aspx?id=424631

Good job!!

Eli

Sorry if this sounds basic. Don't do many of these. TP is married to an illegal immigrant who has ITIN. 4 kids. I know they can elect to file MFJ, but they would lose the EIC. Can he file HOH, and claim 5 dependents (4 children and spouse)? Spouse does not work.

Thanks

Tom

Lodi, CA

Only choice is MFJ & MFS. Either way they don't qualify for EIC. Kinda hard, but thats the way it's set up. I'm not sure that a spouse can be a dependent. If she's in the process of getting her status legalized & gets a SSN then I believe you can go back & amend the return.

Eli

It'a a shame more tax preparers do not even think about calling a local computer repair shop, and asking them about a 'custom built' computer. Why pay for stuff you don't need, when you can often get a better machine, built just for your tax work, that will run faster just because it does NOT have all that 'entertainment' stuff that you are never going to use in your office?

Thats what I did & got a great computer that easily would have probably cost over 1000 if I had purchased from Dell or HP or any oother brand name.

Eli

Tom,

If there was a cow casualty, believe me I wouldnt go anywhere near it :-)

A new employee asked in a staff meeting today if pepper spray would be a good thing to carry just in case they come up to a smuggler(s). If you're close enough to use the pepper spray you're in deep doodoo!

Eli

I just bought a custom built computer. It has an AMD Quad 4 Phenom processor, 4gb ram (upgradable to 8), 500 gb sata hard drive partitioned with both windows vista & windows 7 64 bit. Runs extremely quiet & extremely fast. Cost: $732.00

Eli

>> Same fund, same sale date, but acquired on different dates<<

Presumably these were all disposed of in a single transaction, so you only need one entry on Schedule D. The 1099-B does NOT have all the dates acquired because there is no place on the form for them. You are no doubt looking at a supplemental schedule that is not sent to IRS.

Jainen, as usual you are correct. I was looking at was a tax statement personal summary. Well I had already entered 61 transactions. Glad you guys are around to help us 'rookies'.

Thanks, Jainen! If you're ever down my way let me know & you'll get treated to a really good ribeye :-)

Eli

Hey Eli, how is everything in Texas? I agree the IRS does want these listed. You can use the various date option. I could be wrong but I think for numerous transactions JRS is correct except for I think you should attach the broker's 1099B to the 8453 and mail it in. If I'm wrong, someone will correct me. I hope you are doing well.

Terry D.

Hi Terry! Wel things are going well. Slowed down somewhat now. Still working at the refuge & keeping my head low :-) Seems there's at least one gun battle everyday now right across the border. Eventually it will spill across the border.

How's the family?

Eli

Thank you, JRS!!

I will get to it I guess :-)

Eli

Client has several stock sales for 2009. Same fund, same sale date, but acquired on different dates. The 1099B has the acquired dates for each transaction. Can I group them & put 'various' for the acquired date on the Sch D or must I list them individually?

Thanks!

Eli

turns out I had to match the number of months lived in home with the months alive, I had entered (because it rolled over) 12 months in home, when the mother had passed away in June, changed to 6 months went though fine, enfact have done another one and not had any trouble with it

Thanks for that info, Fred!

Eli

My family is excellent, we are all very happy and healthy. I have attached a picture of the girls and I right before the Daddy-Daughter dance.

Kerry,

That is an awesome picture!! Glad to hear you're doing well.

Eli

Fredazcpa. I have one just like that as well. I'd never had that problem before.

Mom earned 20,510 total income. Mom pays all the bills including food. 22 year old college student daughter earned 14,470. Mom also claims her parent as a dependent. Can Daughter file on her own & will mom still qualify for EIC if daughter is claimed as qualifying child for EIC purpose only? Or does daughter lose the dependency whether mom claims her or not?

Thanks!

Eli

Kea, Thanks for that link. It's a great reference!

Eli

Correct, daughter can still claimed mother if she only made $2,952.

Gracias, Pacun!!

Eli

Taxpayer has claimed mom as dependent in the past. This year the mom has Sch C income from the state. The amount on the 1099 is 2952. The mom would owe the SE taxes & daughter can still claim mom? All other qualifiers have been met. I feel she can, just double checking here.

Thanks!

Eli

Happy Birthday!! :bday:

I'm just going to prepare her return claiming her dependency. She can mail it in & let the IRS sort it out. It's quite a bit extra for her with tuition credits :-)

Thanks for the replies!!

Eli

Thanks, KC!!

Eli

I'm trying to create an efile for the State of Ky. The federal is the only return showing up on the 'create efile box'.

Wonder if I'm missing something??

Thanks!!

Eli

Thanks, TaxBilly! She will be happy. She was losing almost $800.

Thanks again for that confirmation.

Eli

Young lady turned 24 on Nov 11, 2009. Work and goes to school. She earned just under $12000 in '09. Parents earned $16K. Parents claimed their 17 year old son & their 24 year old daughter(previously mentioned). The daughter says the parents were told at a VITA site that it would be best to claim her for financial aid purposes. I think the daughter should file on her own & parents should amend their return. There's no difference in the amount of their refund so that shouldn't be an issue. The mom says that she'll have to go back to the VITA site to confirm what I told her.

Is my thinking correct here?

Thanks!

Eli

i would not put down mileage to zero it out, that is a deduction he can't substantiate and now you have to add a car etc.

we have lots of these for doctors that get checks from insurance companies and owe it back to their employer.

put on line 21 and then show the next line as paid back to employer under requirements of contract

Thanks, Michael for another option :-)

Eli

Well, the SIMPLE way would be to just put it in a C-EZ and enough milage to zero it out.

Thanks, KC!!

Eli

Taxpayer recieved a 1099 MISC from the Texas Highway Patrol for mileage reimbursement. They listed the amount in box 7 (nonemployee compensation). The taxpayer turned the check over to the the city manager since he is paid by the city.

What would be the proper way to report the 1099 on his return?

I was thinking of zeroing out the amount with mileage, but not sure that would be the correct thing to do.

Thanks!

Eli