Joel

Yes, 120 questions but 20 are trial questions for evaluation and do not count. I will assume that the questions I missed (I don't know how many I missed) were among the trial questions and therefor I got a perfect score. :>)

I just passed the test today! It shows that any (old or middle) aged preparer can study and pass

Create a 2nd k-1 input for the same partnership adding to the name 'depletion' Then put a minus number in box 1.

Are IRA distributions from an annuity IRA considered non business income when completing the NOL worksheet line 7? Income from annunities is inclueded but I think that IRA distributions would not be included as they would have originally been wages if not deferred.

With the new basis reporting to the IRS won't there become a lesser need to file this type of returns as the CP2000 will not be issued?

I added the entry charge onto the invoice but it doesn't seem to be working. Have not had enought Sch D/8949 returns to be sure.

Final answer from Red Gear on my problem. Run the program in safe mode.

I have a similar problem. Spent 3 hours on support Saturday with Red Gear and no answer. Tech was on remote control of my computer and TRX on voice with me. TRX was only available for my support and we could only talk to tech via IM. TRX and I agreed that they could not give me any assistance at that time other than verbal moral support and I authorized her disconnect. About 5 minutes later Red Gear tech disconnected the remote link. I gave up for the day. May try again today.

Thanks Don. I printed the 2012 chart. Don't think I have a need for the 2011.

Thanks Gene and Don. Will try to remember to print next years copy before destroying this one.

I, in error, disposed of my last years chart of the efiled acceptance date giving the date for direct deposit and mailed refunds. Does anyone remember the IRS pub number?

I tried the demo of TaxExact Pro last summer and found several problems, such as a limit on the number of k-1s allowed, no adjustment in the size of the input screen, slow response in opening a client and failing to show existing clients in the existing client list. I had selected this program last April in liew of TRX Pro 1040, which I used last year in addition to ATX. I reported my problems with the demo during the summer to TRX and was advised that it was just a demo and this years version would correct all of my concerns. When I installed the program last week and tested it I found all of the same above problems. If it is not improved soon, I will have to switch back to TRX Pro 1040 which they authorized back in April.

I tested the TaxExact program and found many problems. I was not able to complete a complex return as the program is a 2006 version for depreciation. 5 year property put in service in 2005 will give 2006 depreciation rather than 2010 figures. Dividend input has the qualified dividend input off to the right and no provision for foreign tax paid, etc. I have already signed up for 2010 and wrote to TRX with my thoughts but have not yet received an answer. I like the overall appearance of the program (almost forms based) and agree that the scrolling is jumpy. I would like to switch but need to evaluate a 2010 program before I can make a decision. ATX wants $799.00 for 1040 Office before 10% discount if ordered by 05-31-11

Yes, but don't forget to take the depletion allowance from line 20T2. It is a new k-1 entry for the partnership with the added words depletion and a minus amount on line 1.

I think that if you switch to the long SE form it will be sent to the IRS with the 0 tax shown. At least ATX shows it as a form being sent.

MN preparers assistance is needed. Taxpayers are residents of Florida and receive trust income from Minnesota. In the past the income was small and no income tax was due to MN. The taxpayers have been advised that in 2011 there will be a large capital gain and that taxes will be owed. The concern we have is about estimated taxes for 2011. The written State instruction state that part year and non residents must have 1 dollar of income in 2010 to use the 100% prior year exception to the penalty, yet the ATX instructions say that if their 2010 income was more than 1 dollar then to use the MN adjusted income and do not refer to the 100% exception. Confusing. Have any of you MN preparers had any experience in this?

Taxpayer purchased 1000 shares of stock at $10.00 each. Investment $10,000. Six months later purchases 500 more shares at $5.00 for an additional investment of $2,500.00. Two weeks later taxpayer sell all 1500 shares at $4.00 Proceeds $6,000. Loss $6,500.00 Broker states that the sale is a wash sale and that the loss can be only $6,000 and that the loss on the sale of the 500 shares ($500) is deferred because he bought the shares within 30 days before or after the sale date. If this wash loss is deferred, then to what is it deferred to and when will it be recovered? I say it is not a wash sale as the taxpayer no longer owns any shares of the stock.

Yes

The credit was paid in 2009 for those who received SS benefits in 2008. Only a few people would have the $250 in 2010 not everyone as state by Pacun.

Apparently ATX has not yet updated the SE form to comply with the IRS version on line. The instructions on the IRS website for line 3 of the SE say to subtract the 1040 line 27 (self employed health care) amount from the income on line 2. I noticed that the TRX program has included the proper instructions and calculations.

Will the Identity Protection PIN become the big problem with tax clients this coming year? When asked the question, will the answer be a blank stare or will they say "Yeh, I got the letter, but don't know where it is?

I just recently renewed my registration with NY state and was wondering if there are any other states that require registration for an occasional out of state preparer. I am in Florida but do several different states.

Mine three!!! Today in the mail.

I sent my paper form in with check about two days after the web site was opened. Got my old PTIN approved about two weeks later.