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About grandmabee

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  1. I have a non profit who files the 990. Extension was filed for a 06/30/20 ending and due date was May 17th. Late fee says 20.00 a day but does that start back at the original due date since we missed the extension due date or will the penalty start from the original due date. I think it goes back to the original due date. TIA
  2. I only go to their site if I need to rehang an e-file that got hung up. Otherwise I use this site. When I go onto the other community board it sometimes scares me to see some of the questions and answers.
  3. Want to clarify , Client lives in Washington state, works from home for two different employers (W-2). One is a Washington employer and other is a California company. She has CA withholding on W-2. I file her as a nonresident to get the withholding back. No California income. Never stepped a foot in the state last year. CA preparers am I correct on this? TIA
  4. taxpayers are over the 401% so all 12,000. credit should be paid back in normal year. Great for this year. But they are self employed and take the self employed health insurance deduction. Does that change for this year? Can they get a deduction for the amount they should have paid back but didn't have to. Now that I type it out it seems that can't be, didn't actually paid it. But I thought I read where they get the extra benefit this year. Any help would be appreciated.
  5. Did you fill out the sale of personal residence tabs in sch. 8949? it walks you thru it.
  6. It is not a C. You can put on E but land no depreciation so misc. income would work. QBI might come into play if on E. Also check on renting less than 14 days not taxable. Guess I am not much help just some ideas to look up.
  7. Every Year I get 3 or 4 letters where my clients return is changed due to rounding I guess. Tax amount is 1 dollar off sometimes high sometimes lower. It makes me mad because It looks like I made a mistake. Only change is tax amount.
  8. Oregon surely has it quirks. ATX does not do a good job with this state.
  9. it was passed with no claw back provisions. They will not ask for it back.
  10. Hmmm, sure it is not asking for the PTIN number to efile? because we only have to put our license on the Oregon page.
  11. I will join the club you are in. I am also way behind. At least I am not scrambling to do the 4868's that will be middle May. So far lucky no grouchy clients. For estimates If the return is in I will do some estimates for them otherwise I am taking 2019 tax and doing 1/4 so an ESTIMATE, which is what they are supposed to be. My opinion is that there should be no interest if we make up a difference by due date of return but that is just me.
  12. If the person who sold the house met the rules for exclusion then nothing had to be done. No 1099-s, no reporting on tax return.
  13. I just didn't want to miss anything for the NY return as only do 1 or 2 a year.
  14. You do have until May 17th but this return has to be paper filed. Maybe there will be answer by then.
  15. S-corp. closed. No fixed assets, bank account closed and paid almost all of the final bills. shareholders paid the balance of bills from personal money. 1 shareholder has a zero basis because used up in prior year and has a carryover losses. 2 nd shareholder has a loan to corp. on the books. Has a small debt basis left. they have taken W-2 wages and no distribution. Restaurant could not survive during covid shut down. Questions: so is the carryover losses just lost because no basis left? the one who has some basis left do I just take the losses up to basis like normal? I have
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