Catherine

Not from Ohio but I am from the northeast. It's too early to worry about lake effect snow. Lake effect rain, perhaps. The extended forecast for next week in Cleveland shows highs in the 50's and 60's and lows from about 40 to mid-50's. Mid-winter weather for you... mild fall for us. Wool sportcoat should do you well, perhaps with a sweater to put under it if you go out in the evening. I'll wave from Massachusetts - wave back! (I know, we won't be able to see each other, but still.)

Thanks, will try that.

Folks have a rental property in Hawaii (must be tough, huh?) that was purchased for that purpose. First time ever, in 2014, they used the place themselves for a month. So of course personal use versus rental use apportion expenses, claim all income, etc. Depreciation on the 87% business use is NOT showing up on Sch E, and I expect it to. Before I call Drake tech support, wanted to make sure I have not forgotten/overlooked some special depreciation treatment with mixed-use rental properties.

Yes, it does have the Code P. OK; will leave it off of 2014, just amend the 2013, and see if there are any letters. Thank you!

This is messing up the 2014 for these folks. Contribution was made to Roth IRA in 2013. Over the income limit, which we found in March of 2014. Requested and received excess contribution plus earnings back in 2014. OK so far. So they get a 1099-R showing the return of the excess. Form is for 2014, even though it is considered a 2013 income item. I will need to amend the 2013 showing the earnings as they are considered earned in that year. Got that. How do I treat the 2014 return? I have a 1099-R for 2014 that belongs to 2013 income. Leave it off and wait for a mis-match letter to explain? Append a PDF to the return stating that the amount is properly reported on a 2013 amended return and so was backed off on the 2014 return (and hope someone bothers to read it)? Enter it and back off the extra income on Line 21 because it will be reported on the 2013 amended (with or without that pdf attachment)? Other? Advice greatly appreciated.

I also prefer using a calendar year if at all possible. However, if it's likely things will wrap up in less than a year, sometimes fiscal works best. In your instance, fiscal vs calendar is only offset by a month so unless there are very unusual circumstances, go for the calendar year.

Margaret -- same thing happens to me ALL the time. I am search engine impaired; no matter what term I use, it is the wrong term. This also applies to every term I can think of to search for. This explains a LOT of my posts here and to other tax forums.

Another answer for #5 is this: Clocky, the run-away alarm clock

That is pretty much what I thought. But they were pushing and I did not have a cite handy myself. There are certainly expenses that will be considered part of final medical expenses that they are paying and will be reimbursed for; those we have already discussed. There are other fees that will become fiduciary fees once she passes that the executor is anticipating. Thanks.

Hi folks -- I was asked a question by one member of a family: are travel expenses to deal with issues surrounding the final illness of a loved one estate expenses? Three brothers are taking turns leaving their lives for a couple weeks at a time to travel to advocate for dying parent (the other parent died some years ago). There are hospital/hospice meetings to attend/coordinate, and TONS of in-person care to administer as there has been trouble finding a private-duty nurse to hire, and lots more. It's not like they are making a final trip out to say goodbye; they are each working full-time care-taking plus full-time administering plus full-time coordinating. It sounds utterly exhausting. Frankly I don't know what to tell them. If they had found a private duty nurse, those costs would be final medical costs. If they hired an accountant to deal with the hours of sorting papers, finding checks that need depositing, paying bills, pitching charity solicitations, those costs would be fiduciary costs. They aren't asking to be paid for their time or lost wages but rather reimbursed for the expenses of travel back and forth. Yes, there is money to pay for those travel costs without draining the bank account. Opinions? Advice? Publications to reference? (I have looked but found nothing to the point which simply means the info is hiding until I admit defeat and ask for help. I half-expect the answers to jump out of the screen at me as soon as I hit "post" on this topic.) Thanks.

You need to get the 1099-A and the 1099-C before you can start. The bank acquired the timeshare for $45K. With a FMV of $50K they don't have a loss assuming they sell for FMV. Cancellation of the debt can lag, sometimes for years. Much better for the client if both are in the same year but you can't rush the bank. I have a worksheet somewhere and will dredge it up for you -- but you will need the A and the C both at some point.

In NH, just north of here, they have dour seasons too: almost winter, winter, blackflies, and road construction.

Low overnight, here, was 47F. Right now it is utterly glorious; upper 60's/low 70's, breeze, bright sun, dry air. Leaves are starting to turn. I still have hopes that my late beans give me a crop before frost. And I am stuck inside battling recalcitrant balance sheets instead of out for a long ride on my bike. I think I need to pout now. Pout. OK; better now.

As Max W said, the key is "unless they are already included." Figuring *that* out will be the trick. #2 sounds suspicious for belonging to his practice rather than to him (depending on structure those could be the same for tax purposes, of course). #3, regardless of the "1099 purposes only" verbiage (which just sounds stupid; what else is a 1099 FOR if not 1099 "purposes" I mean really), is still income unless a duplicate of other reported income. Report all income, if double-counted put in an offset somewhere. Adjustment to gross receipts or, if you have more room for notes there, an "adjustment for double-reported income" expense line.

We all have our favorites. I like TTB and can't find what I want in Quickfinder; some find it the opposite. YMMV. Find one that works for you and your practice, stick with it. When stuck, post to the forum! That is also the magic solution for answers you *know* you have seen but are hiding. As soon as you hit "send" out they pop!

The Tax Book lives on my desk... and I keep a couple of back years' versions, as well - for those late or non-filers. Answers those "what WERE the rules on this two years ago?" questions. The state book I only replace every three years or so; just not enough changes (that I see). Good CPE, too, at good prices.

I have absolutely NO interest in cloud-based software of almost any kind. If tax software becomes only cloud-based, I will retire and go back to doing my own returns by hand.

Here they are. Eric, is there a way to delete our old attachments? I was able to delete some that were no longer linked with posts but for most I could find no way to get rid of them. Form 3921 pg1.pdf Form 3921 pg2.pdf

Let's see if I can post these two pages. There are also detail pages of transactions I didn't scan. These are my quick-reference pages for options. ISO's also can lead to "phantom income" for AMT purposes if bought and NOT sold in the same year. There's a great book called "Consider Your Options" by K A Thomas that goes into great and gory detail about all kinds of options, that I use for greater-detail reference. That's why I wasn't going to post it all here; there are entire chapters of stuff and I was going to talk Lion through the pieces she needed. OK; I have too many files and can't upload these pages. Will post this, delete some stuff that's been saved here, and come back to add the 2 pages. Catherine

Like I told Lion, it's a bunch of stuff. Will try to scan and post here tomorrow. Sorry; wasn't trying to hold out on anyone!

Hi Lion -- See PM am about to send

Hey, look at that; a keyboard with integral real-time printer! (Yes, my inner nerd is showing; I know.)

There is some boat equivalent for Kelly Blue Book - heck, there are ads run by boat sellers. It should not be too difficult to establish a reasonable and verifiable FMV for the boat.

Ultimately they are going to drive us back to pen and paper. Erasable pen!

bump up the queue