grandmabee

I am looking to buy a new computer this week for my employee. Any suggestion on what I should get and have you seen any great deals. It will have the ATX program on it and QuickBooks in the near future. I am looking at a HP Intel Core i7 with 16gb ram, 512 gb SSD. 870.00 TIA

I agree, closing it early is just not right!

it's because of this year with IRS closing down and not full staffed as of yet. other option is to tell them to pay the bill and wait for both refunds to come once everything works out.

Crap, I didn't see ATX deadline for e-filing. I have 2 picking up today. Guess only option is to paper and stay in the pile of unprocessed returns. Both are refunds.

Google is your best friend for the unknown

Doesn't Oregon have 11 counties that qualify? I did find a place on the main information tab to input the FEMA code. But instruction say to write across top of 1040 in red federal disaster area. But I don't want to paper file.

Where do I enter that my client qualifies for the extended time to file the 2019 tax return because of a federally declared disaster?

You can have more than one version of QB on your computer. I have about 6 that I still use for clients who have older versions and don't want to upgrade. I try to only upgrade every other year if possible, but sometimes I have to get another one when a client comes in with a higher version than I do.

Found it myself. Had my screen to big and couldn't see it in the details section. I think partly is because I am getting tired, working too many hours for these late comers. I need to figure out how not to be in this situation next year. I need to have a drop dead date, if not in not going to be done.

Help, Doing installment sale of rental thru the fixed assets. Everything is going fine until it is time for me to put the line 21 payments received in current year. I can't find where to input that. I tried filling out the input sheet with everything again then it doubles up the sale. I know I am just missing where to input current year payments. TIA

But why is the end date 10/31/20?

what type of business C corp. or S- corp. ? schedule C. schedule C cannot. Corporation possible if they sell and buy stock.

To those of you who use the ATX portal, it it user friendly? I have an offer to add to my MAX for 500.00 or is there a outside portal program that is just as good but less expensive. TIA

In my case no liabilities. But if there is shareholder basis doesn't that come into play before taxable. the distribution (gain) would offset basis and only be taxable if take basis below 0.

Do you know if ATX has this in forms? I looked in elections and could not find so I guess I must type up from scratch and attach in PDF. In the search I found where it showed you could do it in interview but I don't see it there either. Maybe another program from Wolters Kluwer.

I would stop the deprec. on the old one in fixed assets but choose do not report gain or lose so your deprec. will be correct for the time period. then I would set up the new rental in fixed assets with the correct figures. I always put a note the it is from a 1031 exchange in case they go somewhere else in the future. I don't think the 8824 form will move it to the fixed assets correctly.

I have a schedule C filer who converted to a S-corp in 2019. the assets are being converted over to the S-Corp. at lower of FMV or adjust basis. So does the 351 statement get attached to the 1120S return or to the 1040 return? TIA

Until the return has been entered into the IRS computers it will not show up on the refund tracker. The IRS is soooo far behind in processing anything paper, it will still be a long time before refund comes. I don't know of any other way to check on it until someone starts processing it.

I started with Parsons too ! And I also have been fairly happy with it. Too late now to start thinking of changing. I hoping for only 5 more years and then I can retire.

I would file the balance sheet, should be fairly simple. Cash in bank, house as assets and 10 partners capital accounts

If the business has closed you can file a short tax year.

I didn't realize the employee didn't have a say in this. Thank goodness ! All I see is problems in the future.

I do a min. charge of 250. and then depending on how many assets go up from there. This form takes time. I have only done a handful in the last 35 years.

I do think you need to give him a complete copy of the 2018 joint return. You can mask the SSN's. He was a client in 2018. Not her W-2's. IRS doesn't care about state court papers. BUT if she doesn't follow the state court doc's she could be trouble with the state court. You need to talk to her and get a copy of the state court papers, he may be not telling the entire truth, she should know. You can't take him on as a client for 2019 unless they file a joint return, conflict of interest. I would not even talk to him again. talk to the wife

DO you know what the coverage limit is?