grandmabee

new client lost job and going to jail for thief of money from employer. He made a plea for less time. no trial. plead guilty. had to make restuition of money taken. I know illeagal activity is taxble but if he repaid all the money and this happend in the same year. should be no income right? (he is a police officer)

that's what I did I had to override to do it.

Points on a rental house was deducting over life of loan now they have refinanced to put on new roof and window. So want to take balance of pts left and start with the new pts. was showing under asset and life of loan but only way I can find to write the balance it shows up on 4797. I wanted to put on E. Do I have on wrong form or should I just override

he is discounting the note. recaluate

What???

remember if it is the same lender you have to keep amortizing both loans, also if you do improvement to the property with the new loan you can write off the points for that portion.

I usually update quickbooks pro every other year. So the 599 for pro advisor is high. I did get the 2009 free this year because someone posted for one day only you could get a rebate for full cost. I just don't know if I really need the pro advisor membership. but now if I pay 349.00 plus the 2oo + for the qbpro every second year I'm there at that cost anyway. I'm going to still check out other payrolls this spring.

Now to add to that ...I have one that its been 5 years she still lives there per devorce decree and now that the house is paid off she pays him rent for his half of ownership. I'm not sure what to do with that. Do I just claim the rent as misc rent on line 21 it's not a rental for profit. He was the one paying the mortgage as part of her alimony and then after five years they were supposed to sell and spilt the money but because of market and having a child at home.... she didn't want to sell. They went back to attorneys and it came back that she had to pay rent for his half. Now I also don't know it that will stop the 121 exclusion when they do sell. I don't know if 121 has a time limit Anyone have this ? thanks

Who uses QB payroll. I have always used it but now after today I will be looking for somethink else!! I have about 8 payrolls I do, in the past I have put up with intuit raising there prices year after year. THis January the yearly fee for payroll was 239.00. Today I get a call and they say I am on the wrong program I need be the enhanced version of QB and pay 349.00 a year because my version only offer three EIN numbers and I have more. They give only to Friday for me to decided if I want to pay the new fee or no payroll. Its the middle of tax season. They are the ones that keeps sending me the renewal. They know how many companies I do payroll for. Now I get two days to change or pay the additional fee. Just venting.... But I will be changing payroll programs. this summer I will check out new one and I am not paying for another year. What a lousy way to do bussiness.

policy issued after 1/1/2000, beneficary you, parents, or kids credit 15% of premium max 500. and if you are taking the deduction on federal there is a formular to have an addition back to oregon.

how can you tell if it is an itin number?

Did you open the box at top to say passive?

you guys make me chuckle. I can just here you say that.

That's what I thought,,,, I was hoping there was some obsure thing. Thanks,

They did receive the money. there is a credit or deduction you take for that very thing. If you report income in one year(year received) and then have to pay back different year you can use the credit or take the deduction. as long as its over 3,000 per year of repayment you can chose which. goes to Sch A misc not sub to 2% or a tax credit. See IRC 1341 or look in quickfinder page 5-17. as for the med care I would make then subtract that from the balance.

taxpayer usually files HH and get EIC. this year taxpayer was killed in an accident 06/18/08. After child was released from hospital went to live with other parent. Am I correct in assuming that cannot file HH, EIC, or claim dependent because was not half the year. If anyone knows of any exceptions please let me know.

take the credit put in a CD and wait and pay back each year. Will come out ahead.....unless she would spend on something else and not save money.

Well, I guess I should look closer at the board as I now see where others have had the same problem and atx just sent out a fix. the answer was under support. Thanks it is now fixed.

After 1040 update today now when I fill out the schedule A to see if enough and also for state return I put in the full amount paid for real estate taxes. Then I go to line 39, 40 on the 1040 and on the worksheet I check yes I paid RE taxes. The amount form A would go automatic go the worksheet and it would be limited to the 1,000 or 500. Now when I try to efile it comes up with an error and makes me change the amount on Sch A to 1,000 or 500. Which is wrong for my State return. I want to the take standard on federal with the added taxes but use the Sch A for state Anyone else have this problem?

I don't want a lower tax credit. What i was asking is if you don't use the 1116 you get more credit and if you use the 1116 you get a lower credit. Why is that?

form 1116 not ready yet. but I have a 1099-div with foreign tax with held. Per instructions I can just put on 1040 without using the 1116. meets all exceptions. ( under 300, shown on 1099-div etc...) But when I use the 1116 is gives me a lower tax credit than if I just go the 1040. What am I missing?

are ALL CRP payments subject to SE?

It falls into the temporary job. Is the job to last less than a year? If he know it will last longer than a year then no deductions. Its his option to live where he does and not at the job location.

so interest and taxes on A ...insurance, repairs & maintencce also. 2% or is this just a second home and only deductions are the taxes and interest.

I have a client who started to rent there rental house to a family member. Not at fmv. So no loss. but do I report income and expense up to income and show no loss and no income or does it fall under the vacation home rules where I report all the income but no loss. Any help would be appriceated.