joanmcq

I filed my father's returns years ago when he was in LTC.  If the LTC totally pays for medical expenses or LTC, I do not believe it is taxable, but you have to subtract it from any medical expenses you've paid as itemized deductions.

WE all know that the IRS has been woefully underfunded until recently.  This isn't to disparage mcb39 and GR2's comments, but you've got to give them time to hire and train people.

Thank you!  Into the mail it will go. 

I had to mail the last two 941 due to a software glitch or something.  I'll mail it with the check and just wait.

Oh cool!

Did an oopsie on my payroll.  Now I need to amend.  Can I efile the 941-X?  It doesn't show on the efiled forms on the 940/941 EF Info.

Damn, I missed it!  And I just looked, it is the 27th. Somehow I thought the 27th was the middle of next week….

These guys have 90-100k invested in each PTP.  And these things are frikkin complicated!!  So I'm making sure I'm doing it all right.

I hate it when the K1 sale is on the 1099-B.  The basis is NEVER correct.

Thank you!  I haven't had to calculate excess gain for about 23 years.

Client (who I am thinking about firing) is investing in PTPs, just in the last few years.  If he is recognizing gain on excess distributions, is the character ST or LT or does it depend on how long he has had the investment?

It could be fun if I can get up that early!

Why are losses disallowed with the sale?  Is her income too low?

Or put $1 in box 1

You shouldn't need to paper file either if you get on it.  I just efiled one where the taxpayer died in December.

it could be that you are mixing elective contributions from another job with the SE calculator.  Off the top of my head.

I've seen more clients with bonds & bond funds too, but thought it was just because of rising interest rates.

mine don't seem to be coming back THAT fast but they are pretty quick.  Maybe an hour.  And I have noticed that my 'other states' (besides CA which has always been fast) are taking no more than a few hours- maybe 12 for the slowest.

Its either wait or file on paper.  But I don't think you can file p'ships on paper anymore?

If you don't need code ZZ then I guess its fine?

I think they are talking about letting the charity use it tax free.  At least that's how I read it!

I had initially said it wasn't deductible because it was the third home.  I figured it didn't count, but I guess I was wrong!  Because when I put that interest and mortgage into the mix, it increases the amount of deductible interest.

This is one complicated calculation!  The only one I've had before was just a little bit above the $750,000 and dropped below it the next year.  This is the first year I'm preparing for this client.

Some states I've been able to file without a federal efile, but it seems they've been dropping.

I was a W2 commissioned salesperson.  I got minimum wage whenever my sales did not exceed minimum wage for the hours worked.

Yes, I just got one where the market discount far exceeds the amount of reported interest.

Do I add the vacation home's interest to the mix?  I assume it would qualify as second home after the first one sells.

It's not.