Dan

21 hours ago, TaxmannEA said:

Yes, it's possible. I have several people in the same position.

Are you treated as materially participating in a farming activity if you materially participated for 5 or more of the eight years before you turned over the farming to a tenant?  In other words, can you file schedule F for 5 years after you turn over the farming business to a tenant or must you use Form 4835 the first year?  The only test you meet is test 5 of the material participation test.

Are you able to file both a Schedule F and Form 4835 in the same tax year?  

For example a farmer has turned his farm ground over to a tenant to farm.  That would go on Form 4835.

The same farmer has ground in the CRP program in which he materially participates.  That would go on Schedule F.

Am I correct in the above examples?

Instructions for Form 1040 (Schedule A) on page A-5 has a worksheet to figure the General Sales deduction as well.

Was there another "Sales Tax Calculator" besides the one from the IRS Web site that we had last year on this Community Board?

Thanks for your response.

https://apps.irs.gov/app/stdc/stdc.html?_page=10&_cancel

Has the IRS said anything about when to e-file a federal return?  It seems a little early right now.  What kind of response has anyone had about this?  Thanks for your response.  

The person receives a CRP payment from the government each year for 10 to 15 years as a result of putting land into grass.  The government than requires that maintenance work be done and the cost this year to do maintenance work cost the tax payer more than $600.

Form 4835 is a Farm Rental Income and Expense form.  So if the tax filer files this form, is a 1099-misc form required if the filer pays over $600 to someone to do custom hire 

If you file Form 4835 is a 1099-misc. form required to be filed if you give a person more than $600 in custom hire work? 

I know the 1099-misc. form is required if you file the Schedule F form but what about Form 4835? 

Look for your reply.

What is the filing requirement for a student attending a Church University?  Is a return required to be filed in this situation?

1.  W-2 has $1030.67 income reported

2.  No federal and state taxes reported

3.  No Social Security or Medicare taxes reported

4.  No State taxes reported

The church university is a university of a certain denomination, no particular church but all the churches of the denomination.  I believe some money does go from the denomination to the university.

Thanks for your response!

Another question,  how do I get my refunds to show up in the pay-per-return system?

On the PRS tax program, I get an error message, "An unexpected error has occurred.  Please go back to your program and start your order over."  Why am I getting this?  I have just downloaded the tax program.

Does there need to be a correction made to the 1099-R.  Earlier I wrote that 0.00 were in box 2a.  Should box 2a have 33.43 in box 2a? 

Question:  Why are the return of earnings not taxable?

I have a 1099-R with a code 8 in box 7 and an x placed in the IRA box.  There is 33.43 in box 1 and 0.00 in box 2a.  

A traditional IRA contribution of $6,500 was made in January 2014.  On the 2014 return only $2,000 IRA contribution was used.  $2,142 could have been used that year.  So you see there was an excess contribution.  On February 18, 2015 $4,500 was withdrawn from the IRA. along with $33.43 of earnings attributable to the contribution.

Question:  What do I do with the $33.43 of earnings in box 1?  

Thanks KC & MAMalody  (I like your ideas)

I found the following link on line:  https://www.huduser.gov/portal/datasets/fmr.html

What do you think of it?  

How can I find the fair rental value in regard to a house that parents rent to their son?  I have often heard that the fair rental value is determined by what comparable houses rent for.  Rather than doing all that work is there somewhere I could find a percentage to work with? 

Is there a certain percentage of the house value that you can use in determining the rent each month?  What is that percentage?

Value of the house_______________ times percentage__________ = rent per month.

Thanks for your response!

Should you file form 8962 if you only have coverage amounts on form 1095-A part III column A?  

The amounts on form 1095-A in part III, column A is 186.04 for March through December making the annual total of 1,860.40

There are no amounts on 1095-A in Column B and C.  It is zero in those columns.

On form 8962 part II and column B, lines 14-23 when I do the SLCSP, I come up with the same amount of 186.04 

The amount in column C is 201 on form 8962

Does form 8962 need to be filed in that case? 

The person is single and household income is at 252% of the federal poverty line

Just wondering how e-filing is going for everyone?  When do you think it is OK to send in a return?  I read earlier that one was having problems getting the return processed.  

Part III, line 10 has the words (attach detailed computation).  Does anyone have a worksheet you use for this?  This is in regards to Form 1116 (Foreign Tax Credit carryover).  

I checked with my State and it doesn't require the driver's license information.  Another State I checked with doesn't either.  Is there a list of States that do require this information.

Yes!  I was a long time on the phone with a representative from ATX.  I sent them a copy of the 2014 return but haven't heard back yet.  Another tax program I worked with had the correct calculation.  

I don't know if this will be a problem with the 2015 (form 1116) but the 2014 (form 1116) did not calculate the correct amount for Part 1; 3e (gross income from all sources).  What happened was that form 4797 had in part 1; 2g (gain or loss) these amounts in 1 & 2 below:  

1. $31,075 gain

2. ($7,430) a minus amount

When adding gross income from all sources it took the remainder of 1 minus 2 instead of the amount in 1.  

Has anyone had this problem and what did you do about it?   

Catherine, I know in the past you have included a link to your Tax Document Checklist.  Can you enter your 2015 checklist as a link?

Thanks! 

Does anyone have a good Net operating loss carry forward explanation statement?

I have seen a good NOL statement for the election to forego operating loss carry back.  But what about NOL carry forward explanation statement?  

Thanks for your response.  

Thanks!

KC, thanks for responding.  "All net operating losses sustained during the year."  I have a question about the underlined phrase.  Does it mean all losses are in the year of the loss or does it mean you need to deduct those losses on the next year's return if you elected 172 (b(3) above in my first post?