grandmabee

I know that but in this case the personal rep could not touch or get any informaiton from the accounts at smith barney. they said once she died the account went to the beneficaries named on the account. Which pers rep doesn't know. SMith barney said it did not go to the estate but went to named beneficaries. the 1099B is for about 69,000. but a overall gain about 3,000. at this late date thinking of just claiming it all and be finished with it

CLient died mid year with a smith barney accout with TOD beneficiaries. Account was paid out to beneficiaries. But when we finaly track down the 1099 everything is reported under deceased client. I know everything before date of death goes on her final 1040 but all the sales of the stock was sold and paid out to beneficiaries. I don't know maybe because its the 15th and I am trying to get this done for filing today but shouldn't anything after date of death go the new owner of the account?

thank you for the help. I have to do the adjustments of mergers etc. I go to the CO.'s website they are good at having the information and worksheet there.

this guy trades constantly.... of course there is losses always short term. I just don't have the time before the 15th to imput all the trades and he hasn't even given them to me yet. He usually prints out all the buy and sell sheets and he does match them up but still four pages full is alot. I told him to try the excel but he had a gains/loss statment which I also told him to email me the file in excel but no luck yet.

anyone use ameritrade brokage gainskeeper? I saw in the past where someone talked about being able to download the sch D stock sales from the brokage statement. My client uses gainskeeper from amertrade. I told him to see if he could email it to me and as of now he can't figure out how to do it. thanks for any hlep

She is talking about your application number not your PTIN. they are staying the same. I had trouble with it accepting my CAF number. It always came up error. I guess I am glad my renewal date is not 12/31 of each year. December is a busy month for me. one less thing to worry about

It also includes debit cards. we are only supposed to report cash and check transactioin on 1099 rest will be reported on 1099-k

Update your program every morning. You will have to enter the full information from W-2's, 1099R's etc. which will take extra time the first year then they carry over. In the second year you will find it saves a lot of time on copying returns and envelopes. It does take time to get the hang of it but with 1200 returns you should be going good after the first month. It's also going to be new for the clients so that will take time going over that with them also.

I thought it went by gross income not taxable income

client daughter has student loan which they co-signed on and they paid the payments. she still is in college and they claim as dependent. but the 1098 came in daughter name and SS number. So they got a cp2000 asking because no match. I thought since they were co signers on loan and paid... it was deductable. anyone else had this. Was my thinking wrong?

llc filing 1065. long haul trucker. purchased truck on contract and now in 4th year business slow and gave truck back could not get enough work. Fully depreciated truck. still a balance on contract. lien holder took truck back and cancelled debt. so.... I have cancellation of debt at partnershi level for the balance of the contract. 2010 we are closing the partnership return no activity after truck was gone. Still paying some back expenses. the income I report would be the balance of the note since fully depreciated and zero tax basis. Am I thinking on the right track here? Also maybe I should close the partnership as of 12/31/2009 the bills they were paying was coming out of personal accounts. appreciate any thoughts.

does a student working on his masters program qualify for the education credit? new opportunity credit is for the first four years so No on that one but what about the lifetime learning credit? I am not sure what an undergraduate program is/ Thanks

it is only for new ! darn !

Have her charge her meals then she won't have to worry about sending out 1099....I don't know if Mcdonalds take credit cards

never mind

what would you do with the money received? all taxable or take the position that they were sharing expenses and not claim any money received

so are you just claiming the full interest and taxes on sch A and then the income from sharing expenses is not accounted for on the tax return? My case is not friend or relative just needed extra income in these times. I believe it is rent income and was showing only 10% of utilites and int and taxes, insurance which was the sq ft of bedroom only compared to whole house no common use area. It was not a loss

client is getting ready to rent out a bedroom in home. would you set it up the same as regualar rental using the % of expenses per sq ft based on room size?

No ATX does not calulate short year depreciation for Sch C. only corps It says in instruction if you want to use short year you must over ride

a sole prop purchses business November 1st. Atx does not have short year and you have to over ride. How many of you use short tax year for a Sch C or do you just use for Corp.? Thanks

You can't efile a return with 179 from a partnership? I didn't know that. I have one on extension guess I have to paper file it.

They are a home owner now. they own the mobile they would qualify for the long term home buyer if other qualifications are met

you do not file prior years. money was received in 2009 but you can do the lump sum payment worksheet for back years. Add the schedule to return. But if none of it goes to income in 2009 using the full amount you don't even have to do the lump sum worksheet