grandmabee

to jump on the same topic I have a new client with Schedule C for Bed & Breakfast from 1995 thru 2013 filed with no depreciation on the house. 2014 thru 2018 not business use. they just let the son live in the home. they kept as second home because they moved out of state. In 2018 house sold. If I do the 3115 the only place I can put it is on line 21 because no Schedule C since 2013. Old preparer said he didn't want to how to mess with depreciation when they sold. I said its allowed or allowable. Now I am thinking maybe he meant he was going to disallow the depreciation because it wasn't exclusive use at that time. Any thoughts on both questions? line 21 for 3115 if I adjust or depreciation wasn't allowed.

Both those items were upgrades probably after 2016, I am thinking it was 2017 returns.

or you could post on line 21 as" prior business expense" as a negative number.

I agree he can move his OFFICE but not personal. no on the broker fee for apartment rental. IF he has OIH he can deduct the same %. I am assuming he is a Schedule C filer and not W-2.

How was the transfer? did the depreciation go over well?

I don't think ATX does it right. It automatic added it into the worksheet the entire gain on a sale of rental as qualifying QBI income.

Mine is still down at 3:55pm PST

I am going to try and switch reps anyway. I don't care for Health. Never can get ahold of him. and pretty much said I was lying about the price. She sent me a copy of her bill so I am going to be ready this year.

Same for everyone one else?

No, everyone does not get the same price. The person I recommended two years ago gets a better price than me and I have been with them since the beginning. She paid 995.00 for the MAX program and I paid 1595. thus year. I think it depends on who your rep. is.

I had one also just like that. My client put money into an IRA and everything worked out. I worked on those worksheets for hours and couldn't get it to work. Maybe I was tired also but lucky they could do IRA and solve the problem.

That is correct.

I do it ever year. Not sure I am renewing with ATX next year with all the mistakes on Oregon and ATX not willing to fix them.

You are correct. 39 yr. property. Some people brag about writing off stuff and they don't actually do it. they don't know the difference. Probably just go in and sign return not even talking to the CPA.

I did the worksheet W & X but it gave me the entire premium paid for a SE deduction and didn't make me pay anything back of the credit so I know that I am missing something. Which software do you use?

Client Schedule C received some advanced health insurance premium and paid a small portion. Income is up over the 401% because only 2 in household this year instead of 3. she has to pay all of it back about 11,000. So if she has to paid it back then I put under SE health insurance on page 1 of 1040 (schedule 1) it puts her back down under the 401% and lets her has some of the credit again. I know there is some kind of formula to make this work but I can't find it. Any help please. thanks

You elected out of the 1031 exchange. Basis of new property is cost plus buying expense.

Exactly then the next thing they say is I could probably just do this myself.

I don't think you need a statement if not using the safe harbor.

It will go on a 1041 and if the estate already distributed the money then goes to beneficiaries. It would be first and last return. More troubling is that the bank issued the money to a dead person 2 years after. How did they cash the checks? I think I would make them talk to the bank. it should have been issued to the estate. Does the estate even have a EIN number? It will not go on the deceased person return. you can't file a return for her. If they don't have a EIN number you can apply for one and then file an extension for the estate return. You can do this online.

On the Oregon Sch A it lets me override it. Not sure about CA. I just start typing and it asked if I want to override.

Same problem on the Oregon return. I have to override. I have submitted this error to ATX several times but not fix in sight.

It is probably the new Oregon transit tax. should be coded STT. in box 14. It is an Oregon tax deductible on Schedule A for federal but not Oregon. It started in July of 2018 I don't input thru ATX on W-2 but put under state tax on line 15 (schedule A ) with Oregon as the state then it will flow correct on forms. I have seen it show up several different places on the W-2. it is .001 by gross wages starting July 1 working hours.

It doesn't matter, as long as his name is still on bank account. I don't ever fill out who's name in on account on that tab just routing number and account and they all go thru.

Well ATX has now fixed it to show up on top of 1040.