RoyDaleOne

I disagree, I think there is a possibility of a casualty loss. Besides, roof repair maybe deductible as a repair, if it is not a betterment.

I live in Orlando, FL., (actually Maitland but close enough) enough said. However I am from Lime Dale Indiana. Famous for: 1. The five houses, a church, and the concrete plant it has, 2. Two stop signs, with a total of three roads, Lime Dale has no streets, byways, or boulevards, 3. Not being on very many maps, or on just a few maps, 4. Home of the crossroads to nowhere, as compared to Indianapolis, Crossroads of America, 5. Former home to me, in that I am the most famous person to every live in Lime Dale. Actually, I am not sure about number 5, I needed something to place as number 5. I could not find anybody from Lime Dale, other than myself, so I claimed the title.

That is the version I have. However, I have not update for two days. Try at off time hours, what ever that is, and see if that helps. I just updated and it appears to work fine. Try the manual download, if you are not using that. What speed is your internet connection?

Is not the date of when the estate closed, important to know, to assist in answering this question?

I was able to print fine.

I now have version 2008.6.0.142.

Is it not fratting not frikkin?

It depends on State Law and the wording in the trust. I believe the trust capital gains tax rate is the same as an individual's capital gains tax rate. Namely, 15%.

That is the version I am running. I did nothing special, it just is that version. Did I miss something? How would you know? Who would know? I am looking.

Thanks, I appreciate your answer.

You did not state that you ran netsetup, but, I assume you did. Sounds, like a rights problem. Does the net user have full read and write to the server hard drives?

"The fact that the loan is secured by rental property is completely irrelevant. The only question is whether the loan proceeds were used in the rental activity, such as purchasing or improving the property." "Among the items included in business expenses is the cost of insurance if the insurance is connected with the taxpayer's trade, business, or profession." "If the loan proceeds were used in a trade or business, or an activity for profit, then the pmi is deductible in that activity." Question, if I pay cash for a rental property, and, later finance (take out a mortgage) on the rental property. The loan is 90% of the purchase price. The proceeds are in my bank account. Would the pmi be deductible as a rental expense. Question, if I pay cash for a rental property, and, later finance (take out a mortgage) on the rental property. The loan is 110% of the purchase price, the additional 10% represents rental expenses I paid out of pocket. The proceeds are in my bank account. Would the pmi be deductible as a rental expense. Thank you for your response. Note, sometimes pmi is paid up front for the term of the loan (think apartment complex (HUD loans)), and would be capitalized into the project and depreciated, if incurred during the construction phase, or if incurred after construction is complete amortized over the life of the loan. The pmi can run into hundreds of thousands of dollars.

Insurance is a special case for a deduction, however, "Among the items included in business expenses is the cost of insurance if the insurance is connected with the taxpayer's trade, business, or profession." A rental property is consider a "trade or business". "She paid mortgage insurance premiums on the rental mortgage in 2008." PMI on your personal residence mortgage (non-business) is deductible subject to the rules you have cited on Schedule A, if one is itemizing. The deduction for pmi on rental properties goes back along way, so it ain't something new.

Sorry, I have read them and no such require exists for pmi on a business loan. Yes, there is in fact a very similar requirement. See the instructions for Lines 12 and 13 of Schedule E, as well as Chapter 4 of Pub 535. Lines 12 and 13 In general, to determine the interest expense allocable to your rental activities, you must have records to show how the proceeds of each debt were used. Specific tracing rules apply for allocating debt proceeds and repayment. See Pub. 535 for details. If you have a mortgage on your rental property, enter on line 12 the amount of interest you paid for 2008 to banks or other financial institutions. Be sure to enter the total of all your mortgage interest in the “Totals” column even if you have only one property. Do not deduct prepaid interest when you paid it. You can deduct it only in the year to which it is properly allocable. Points, including loan origination fees, charged only for the use of money must be deducted over the life of the loan. If you paid $600 or more in interest on a mortgage during 2008, the recipient should send you a Form 1098 or similar statement by February 2, 2009, showing the total interest received from you. If you paid more mortgage interest than is shown on your Form 1098 or similar statement, see Pub. 535 to find out if you can deduct part or all of the additional interest. If you can, enter the entire deductible amount on line 12. Attach a statement to your return explaining the difference. On the dotted line next to line 12, enter “See attached.” Note. If the recipient was not a financial institution or you did not receive a Form 1098 from the recipient, report your deductible mortgage interest on line 13. If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on the mortgage, and the other person received Form 1098, report your share of the deductible interest on line 13. Attach a statement to your return showing the name and address of the person who received Form 1098. On the dotted line next to line 13, enter “See attached.” This is about interest not pmi. Also, Pub 535 refers to interest. That being said, a case maybe can be made that, under the Arrowsmith doctrine, that the pmi should be allocated based upon the use of the proceeds from the loan.

I inferrd it was a personal residence converted to rental. Qualified mortgage is a personal requirement for Schedule A and there is no such requirement for Schedule E.

It is a business expense now.

I would fill out a fake 1099R resulting in the amount being on Line 16a, or some other method so the amount goes on LIne 16a. I see no difference in reporting whether you receive a 1099R or not.

What is new this year? The 2003 Form also contained multiple year release provision.

http://www.irs.gov/pub/irs-pdf/f8332.pdf I appears that is what the instructions say how to fill out the form. So, my comment is to agree with you. FWIW

Did you run netsetup on the workstations instead of installing DocMan?

The write-up program looks exactly the same as one written by Florida panhandle software company, which I am 99.9% certain that CCH is reselling or purchased. My daughter used the other software at another CPA, and tells my is exactly the same. As a pure T/B and transfer to the tax program, the client write-up software, it works, just not very efficiently, mainly in the setup, followed by the format of reports. For example I have not found were your can get a report for the amount of federal payroll tax deposits is due for month, that does not include state junk. A sub total on the available report is all that is need. I have used a number of write-up methods starting with manual write-up, paper tape input, up to some of the current asp models.

I use both and complain about both. They work and I like DocMan the better of the two. The best I could say about them is average. For the price, I would rate them a good buy.

I suggest you check the save as feature 97-2003. I have found some non-Office programs unable to open the saved as files from Office 2007.

A comment on the original post. I had and still have problems updating my 2007 Forms. Now, I don't care about 2007 anymore. However, tech support told me that the situation as described can happens, and they don't know why. I send a request to ATX asking among other things how would I know if the form download is working or not. If the download says the forms are up to date, how are we to know if that is correct or not. One of the problems, as I see it, that has not fixed or acknowledged by ATX. I, also, will not combine various questions together to client/tech support again via email, because, in my experience some of the requests will not get addressed. I still do not have all the programs I purchased and paid for in a manner that I can install from a CD. Support fixed my programs so that I can use them, however, I can not install the programs from the CD and have it work without a fix.

Office 2007 sucks. Use Office 2003 as long as possible. My not so humble opinion. Actually, there is nothing wrong with Office 2007 it is just very different. As an accountant I hate change.