Catherine

Yup; those links and Form 14039.

I wouldn't post the links, just the text.

Anyone else get the promotional email this morning from Kiplinger and Tax Tips, offering an "investment opportunity" in bourbon with something called Cask X? It was cleverly done - but in the thick of the season, I'm more interested in drinking it than investing in it. I did get a kick out of it, and would post the entire "opportunity" here if anyone else wants a chuckle from it but did not get it.

Carry-forward capital losses will offset this amount almost completely, possibly completely-completely.

Detail pages for dividends - the crucial bits, that show the foreign amount (for foreign tax credit), the federal percentage of dividends, the state breakdowns for tax-exempt interest or dividends, etc. No, I don't need or want the "preliminary" or "summary" statement that's 6 pages. I want the 28-page extravaganza that looks like boilerplate mixed with gobbledygook to the client. And the 5498s. Not exactly a form, but the bursar's office printout for all college costs.

But there is no indication of what stock it was. Just, "stock."

I'm not going to borrow trouble. For now, it works and works well. Support, on the rare instances I need it, is still America-based and excellent. If it becomes untenable, at that point (or slightly before) I'll look around.

Many thanks to all for their comments and thoughts.

Just finished talking to the executor. It was all from the deceased tp's deceased cousin who had no other heirs. Not items of income, but rather inheritance. And no estate tax implications because the total estate was under the estate limits by far more than the piddling couple thousand of the check.

If my client inherited cash, yes, that's not taxable. If he inherited a stock that paid a dividend, the dividend would be taxable. If the claim says "dividend" then would not that be taxable? I suppose a case could be made that the deceased parent's last return should be amended to claim that income... but that would be a closed year anyway. What makes it so convoluted is that the original claim was made for someone deceased by someone else who is also now deceased. With no paperwork but gobbledygook from a state far away. I'll see what the executor has to say tonight. If there is no documentation anywhere, we'll call it assets. Which then probably means the state estate tax return needs to be amended...

Amen!

Depends on the character of the property. If it was a bank savings account, I'd agree. But wages are still wages, and includable as income if not claimed in the year earned (which might have been done). Stock proceeds sounds capital, with basis lost to the mists of time. Dividends is income.

Probably Texas, too, with the fires.

As for your specific case here, @Corduroy Frog, check the account numbers and if there is a print date. Does the client have (or can they log in and get) monthly statements for tracing what they received in reality? Or, just wait for corrected forms. Discuss with client whether to double-count dividends for the purpose of filing extension determination of whether a tax payment is needed.

This is a fun one! Deceased taxpayer has a couple thousand dollars' payment from a state for an unclaimed property payment. Per the state document, most of it is "stock proceeds" (which I believe means the state sold the stock and was just holding cash). From the tp's residence and knowing what I do about the client (hoping to get more info from executor tonight), my guess is that the claim was from the estate of tp's parent some years ago - but the whole process took long enough that the tp's estate got the funds. Property details listed by the state just give an ID # they assigned. Ordinary income for the lot of it? Capital gain income for the "stock proceeds" and ordinary for anything else? Other? What questions should I ask the executor aside from "what, if anything, do you know about this mess?"

That brokerage may still be that messed up; elderly clients passed on, which stopped the issue for them.

I had one client who, for 6-7 years, got corrected forms in mid-May that were always major corrections. That client got put on extension & we filed after corrected forms arrived.

Nah; they'll likely still claim they "never received" the 1310. They're really awful about those (less so with Form 56, if that is needed, but still not good). I wish you & your client the best, but don't be surprised - and warn the client, just in case, so they don't think you did something wrong.

You can try, but for the most part they mail checks. Also please note that the Form 1310 has to be appended as a pdf, but they *still* claim they never got it, about 2/3 of the time.

Well, woodpecker deterrents should be useful to my younger daughter and her husband. They had quite the problem last summer with woodpeckers trying to make holes in their house.

We send out a document checklist. There is ONE client who requests (and fills out) an organizer. Almost anyone else who ever got one fills out a couple of tiny items, then writes "see attached" everywhere else. I want the original docs, so that's what we request.

For anyone who still uses ATX and is on the "official" forum, feel free to pass the info along there.

I was going through some old (old!) storage areas in the office over the weekend, and came across ATX installation disks (including the final, archive disks) from 1995-2012. Anyone want any of these? I can't see that I would ever have any use for them. Should I ever need to go back that far, Drake (my current software provider) makes all the prior-year programs available for free via download. Else I'm just gonna toss the lot.

Thank you all.

But the executor still needs to report the income, yes?