joanmcq

I apologize for triple posting! I can't delete them Thanks to both of you for your help! This is how I understood the rules. However, I wasn't sure that I was correct and it's never fun explaining this! I needed confirmation before I tell them. LOL So- we should keep track of all IRA statements every year, by updating the current value and the current contributions on the 8606 form whether you file it or not. Right?

Have a GREAT day!

Once you have a basis in an IRA you have to file the 8606. Every year. You can file it without the return, though.

Joan

I am looking for the tax court petition forms in ATX. I can get them online directly from the Tax Court Website, but I would rather have them as part of the client file in ATX. Not having any luck. Does ATX software include the tax court petition.

BTW, the client is divorced. Ex claimed the kids in 2005, but lived with her all year. He filed first, she got a notice of deficiency because she did nothing when the IRS notice of redetermination arrived. It came to me at this late stage, so I am helping her file the petition, knowing that we will get diverted to appeals for resolution. But I still need the client to file the petition to protect her rights.

Tom

Lodi, CA

I think you have to get them from the US tax court site. However, you can save them in PDF form. On the site they also create and print out the required number of forms; I think its four.

Joan

from postmaster, robot detected abnormal activity. Install patch or we will shut yur e-mail down...

Mine was from Robot something. don't even open those.

It should only be calculating the DIFFERENCES. Check to see where it is adding back the exclusion

Do you have form 3885A/D open? That calculates CA differences on capital gains. There may be something happening there.

Posted this on another board but got no answers, so:

TP had SSI back pay, and had to report repayment to Unum in 2004, and apply for a credit under claim of right for 2005. Does VT have a similar credit for 2005 under claim of right, or some other provision to recoup tax paid on income that was repaid?

Thanks all!