grandmabee

No mention of code J

Is there a place to look up a company State ID number for the W-2's.   I have a W-2 that leaves box 15 ID number blank.

Trying to reach company without much luck and this keeps us from E-filing the return.

I don't think you could put 8,000 in an regular IRA back in 2012.  Can't even do that now.  Maybe over several years?

anyway it is all taxable but only the amount less 10,000 is subject to the 10% penalty.  12,000 subject to penalty.

Yes,  you could have applied any refund to 2021. But not exactly the withholding spread 3 years just any refund available.

For cancelled debt schedule 1 line 8 c,  when you jump to input the amount is says (1065).  this line is for all cancellation of debt per instructions.  Wonder why the 1065 is there.

6 hours ago, Abby Normal said:

I feel your pain. We have the easiest secure email I've ever used and we still get people saying, "It doesn't work." I so badly want to tell them they're stupid, but that's why we have these forums to rant in.

Which secure email do you use?  I need to change.

I can't get the form to work this year.  I filled out the information from the 1098-T  Only one box,  box 1 with the tuition.

answered the questions and still says I don't qualify for lifetime credit.  Is there another place to fill out?

But they were PAID in 2021 so 2021 income.  Same as if December wages were paid January.

I don't feel sorry for them, they got all that extra money 600 a week from the Federal.

I just read on another board that tiga put out a report that IRS shredded over 30 million information returns last year because they couldn't get them processed.  We may be seeing a lot of these request.

But again if the sale is the only thing going on, do a fiscal year return as first and final and be done with it.  Check out the tax rates for the 1041 and see what it would be on the gain.

I found it !  left off line 30, once that was done it worked as supposed to.

Yes,  your year dates would be if only activity is the sale of the house then that could be your stating date and close any time before 12 months.

First and final return.

I thought there was no payback of the child tax credit if you made under 40,000 and filed MFS and kids going to mother.  I can't get the form to not make taxpayer pay it back with income of 28,000.   Am I missing a step on the 8812. I mark living in USA and advance of 1500 and no kids.  Show I must pay back all 1500.

Not on the final year everything is distributed out thru K-1  and also why would you want to?  higher tax on estate.

WOW,  I have been using ATX since the saber days and I didn't know there was a "permanent file tab"

Where have I been?????

Then the estate sold the house.  File a fiscal year 1041 now and take FMV at time of DOD to determine the gain.  less improvements made to the house and selling expenses.  You can also take final estate expenses on the return.  Attorney fees, tax prep fees.  You don't want the estate to pay the tax because of higher expense and they can't anyway.  

I am working on my first 7202 for the season.  I am working on a Sch C filer who had her shots and had to miss 3 days of work at the office each time between the time of April 1st and Sept. 30th.  Only has 1 very small other employee who didn't miss any work.  with 6 days off and net income right around 90,000. her credit is almost 2100.

somewhere I was thinking it was limited to 200 per day.  Now I have to make sure I talk to all my Sch. C about missing any work due to covid, shots, etc.  This is a big credit  (unless I did this wrong)  Still doing some research.

Anyone else using this yet this year?

TIA

13 hours ago, DANRVAN said:

What is a temp rental?

Are you reporting from 4797?

Are you using ATX?  You might have to make a manual entry on the distributable income tab.   

Curious as to why in today's market the rental is selling at a loss?

Temporary rental while trying to close the estate.  Needed money to pay the mortgage.  After all the closing cost and wanting to sell it to close the estate took what they could to be done with it.  Rented from Oct 2019 to January 21.  It was going on the 4797 then on to page 1 but then nothing.  But my mistake was that I listed the assets as 1041 asset not Schedule E assets.  Once I fixed that it then flowed to the Sch. K-1 as a loss to beneficiary.

I have a final estate return with a temp. rental sold at a loss.  I can't get it to flow to the K-1.

What am I doing wrong ???

TIA

There is a form that must be filed with the return giving the amount and amount forgiven.  Nothing to do with being taxed.

17 hours ago, kathyc2 said:

I have the plastic sleeve client, several don't open envelopes, a couple staple happy ones, some that use a box of paper clips and one that puts sticky notes on everything.  Like I need a sticky note to tell me a W2 is a W2.

 

Yes,  I have some sticky notes ones too.  those make me smile.

I had a client bring in a notebook today with the clear pages that each tax doc was inserted.  So I have to pull them all out and copy and then yes he wants them back into the clear jackets and put back into the notebook.  They think they are being helpful, helpful would be clients who open the enveloped and throw them away.

Yes,  there is a statement you must attach with certain wording.

In prior years I could always sort the Int & Div by payers.  This year it is greyed out and I can't get it to work.

I think it is user error but don't remember how to make it sort.

TIA

Has anyone used and it made a difference using the 2019 income for EIC.  I have this one who's 2021 income is 39198 and the 2019 income is 31408 and when you look on the EIC chart is makes a difference but when doing it on the return no change. still the EIC for 477. The only thing I did on the 2021 return was to mark the box on the EIC questions.  Maybe I am missing something or else it has to be a bigger difference.