cathyan

Terry, I go through OLT for my software, and must say customer support is wonderful. I have to say I've had very few issues with the software over the last three years, but everything has been handled quickly. They know what they're doing.

I'll be downloading mine today or tomorrow and working with it a bit.

I renewed through OLTPro. I really liked the program this year, and customer support (through email, which I prefer) was fantastic.

I sent a PM.

No, I don't have that problem. My problem with it is it won't let me print without a date filled in. Sometimes people come in a week or more after I print, then we have to cross out pre-printed date, and I don't like doing that.

I haven't had any like this yet, but know there will be a couple of them. I'm going to play around with it some more, so if I find any, I'll let you know!!

I have a client who has a Contract for Deed on her house. Contract requires her to pay the Real Estate tax on the home. She qualifies in every way to claim the Real Estate Tax Rebate, except the title is still in the name of the person she is buying the house from. Does she get the rebate or not?

You can change it by going to TOOLS, Options, Content, then under the fonts and colors, you can set the font you want and the size. If that doesn't work, go to your Windows display, and see if you can adjust it there.

http://news.yahoo.com/taxes-severance-pay-u-supreme-court-hear-case-060251331--sector.html

"It should be re-labeled as "entitlement"....especially when someone files a Schedule C to get it."

MsTabbyKats, I don't usually reply to these threads, but I must take umbrage with your blanket statement. I have many clients who file a "C", and have for years. They are drywallers, roofers, auto mechanics, lawn care providers, housekeepers, and even insurance salesmen. Some have employees, some use other IC'S. All keep good records, and have provided for their families quite well, and gladly paid any tax due. The last few years, though, after the economy tanked, many of them have gotten the EIC, much to their surprise.

I'm sure you meant those who file a "C" with poor or nonexistent records (who we shouldn't even be filing for anyway), but your statement maligns many hard working people who are having a hard time right now.

He hasn't defaulted on it. They are taking repayment out of paycheck.

Client on extension brought in his paperwork yesterday. Included is a 1099-R for a LOAN he took out from his thrift plan. The 1099 is coded 1 and has Fed withholding. But it was a loan. He's paying it back, and hasn't missed any payments. What is the best way to handle this? He is going to talk to them, and, if needed, give me permission to talk to them, but I want to be prepared with the best way to explain that a loan, with up-to-date payments is not treated as a distribution.

I've seen his paystubs, and it is being repayed. Thanks for any insights!

Mine finally came yesterday. I renewed in January.

Thank you both. KC, I did not intend to give legal advice. I just wanted to know what issues could come up that they would need to discuss with a lawyer.

Hopefully, someone will have knowledge of a situation like this. I've tried searching the internet, but am probably not using the right search words.

My client came in yesterday and asked what would be the tax and inheritance consequences if his mother built, with her own money, a home on his property. She's in her 80's and still quite healthy, but is trying to plan ahead. She does not want to go to a nursing home, so, living next to him would allow his family to care for her, if the need arose.

Would he need to "rent" her the land she would build on? After her death, how would he inherit it? A TOD on the title? And, what quickly came to my mind, although she is quite wealthy, what if she did need Medicaid assistance? How could the State recoup money from a house on land that she did not own?

If anyone can point me in the right direction to learn more about a situation like this, I'd sure appreciate it!

I tell everyone who needs to mail anything to Fed or State to send it certified. We've had problems in the past with the state saying they never received payment, even though the check was cashed.

Client had an investment account with ING, and had it transferred directly to Franklin. The 1099R from ING shows a gross distribution of $15,000 and taxable of $400, code 7. For the MO Real Estate Tax rebate, all income has to be used. So, do I need to use the $15,000 as income, or the $400? An individual investment account, not IRA, direct transfer, and I'm confused. Anybody know?

NO! You can't have it go to your account. Have you looked into having his refund go onto a debit card? I know Visa has a prepaid card that you can have it put to.

That's what I thought, But this guy is on the up-and-up, he was worried about not sending them. I'll tell him the best of the best said no. Thanks!

Sole prop buys and resells reptiles. He has some work done on the area where the animals are kept before shipping. The work done by contractors should get a 1099, but what about the people he buys from? Sometimes he pays by check, other times by wire transfer. I am a bit confused about vendors and suppliers getting 1099's.

I only do 1040's for the last couple of years, and everything is working good for me so far, except for state. Calculations are good, a lot of the annoying check box errors are gone, and efiling is a matter of minutes for an Ack.

I've been sending off line messages and getting a quick response. No, no more states ready as of this morning. I've been telling people that if I have to, I will hand-deliver them to the State office, which is just a few blocks from where I live. I have a small (125) clientele, have known all of them for many years, and they trust me. I've worked with them over the years, so state is pretty much on the money, and there are no big refunds or tax due, so no one is worried about state.

I've had no rejects as of update .23. On some I have to delete Sch C, close the program and reopen, but that's only on ones I proformaed before update .21. On the EIC worksheet, I have to uncheck, then recheck line 7 (?), but except for no state yet (MO), it's going fine.

txyank: if you can use a 1040A, it will go. Be sure to uncheck and recheck the box for Rule 6, error check and the create the efile. I had two yesterday that it worked for. If you have to use the 1040, it won't go yet.

I've gotten 4 simple returns out and accepted today. Issues with EIC and 1040, but I could switch them to a 1040A and they went. Otherwise, nothing complicated coming in for a few weeks.