Catherine

Prior preparer accrued over $26K in disallowed losses from several prior years -- do I need to go back and amend as many as are open, then? Catherine

But the loss for this year was only partially allowed, so how can I take three times that amount as a deduction this year?

THANK YOU! I went round and round on the 8582 and never saw that line on the Sch E input.

New client has prior-year suspended losses from rental property for form 8582. I CANNOT find how to enter this amount. There are about a gazillion different places where prior-year suspended losses are mentioned. So far as I can tell, ALL of them are "calculated fields" or "overriding this will delete contents" fields that won't accept the date, and following the jump-to bunny eventually brings me past a dozen other places that will NOT accept the number, finally ending up back where I started!! Help, please. Catherine

I have had this problem when I start with a resident (or non-resident, or part-year) return and then switch to the other. The letter is linked to the now-deleted form and so shows NOTHING. What works for me is to delete the letter and then re-install it from the Forms menu with the return open. Then I get proper instructions. Hope this helps. Catherine

No where else. I just wanted to be sure that I was doing this right; duplicate the W-2 info on the 2441, then put the withheld taxes and employer paid taxes from the Sch H on line sixty-whatever-it-is on the 1040. Catherine

Hi folks -- This is a new one for me. I have a new client who hired household help (nanny). Went through an agency that did the W-2's and filed the Sch H. they gave me copies of all the papers provided by the agency. How do I report this in ATX? The jump-to bunny is tossing me to Form 2441 and then to care providers name -- that will duplicate the W-2 information. is this appropriate? Any thing else I should be on the lookout for? Thanks, and Happy Daylight Savings Time. Catherine

Great news; I'm going to have one in very similar circumstances as soon as I get the info.

It was up to about 60 degrees here. Yes, you DO have a life. It's just a little teeny one that's hiding in a closet until 4/15 when it will be safe to come out and play. Catherine

Client of mine came in with these this year; his employer changed the name of the division he works in part way through the year. So they gave out 2 W-2's, same FEIN. Said they "didn't know how to combine the two numbers". Funny part -- he works for a national payroll processing company. :lol:

Thanks, Julie -- Just what I was looking for. Catherine

Terry -- The kickback is in your teeth, every time you pay the new, higher price. Ask me how I know this.... But I don't use their payroll; just the ProAdvisor membership and software every year. Which reminds me; in my copious free time I should install the 2009 version. Catherine

Saw this somewhere else last year; another forum. It might even have been the Mighty KC who posted it! But thanks for posting it again; it's a good one. Catherine

Had an S-corp client call me today with a question I can't answer right off, and the first two places I looked didn't help, either. It should be plain and simple, but I'm just drawing a blank on this. This is a small consulting company, only assets are about $9K in cash. Owes the shareholders (2) about $40K in loans made to company. They may close the company this year. They have an accrued pension liability of about $26K. Does it make any tax sense for them to loan the company money to pay off this liability? Would the unpaid, outstanding loan to the shareholders be considered a business loss -- or personal, nondeductible? Please note that I'm ignoring the entire issue of how their SEP is structured and whether or not they _must_ make the contribution. That's a different issue from what happens to the loan to the company. Thanks, all. Catherine

"It's amazing how much "mature wisdom" resembles being too tired." Lazarus Long, 'Time Enough For Love' by Robert A Heinlein

Good luck with your tests, and thanks for the reminder. It's time for me to go retrieve the dry laundry and put the washed laundry in the dryer. And then get back to double-checking these completed returns and printing them out. :P

Normal -- isn't that a setting on the clothes dryer?

I just sent it to a few myself, once I stopped chuckling. Thanks for the post!

Not quite; some of them are legumes. :lol:

We already ate... but there are leftovers if you care to drop by (before _they_ get eaten up)!

You can even print on plain paper.

I think KC should sell tickets to let us all just hear her talk and ask her questions. She _always_ has fabulous information and I have learned _so_ much from her posts here and elsewhere. I want to _be_ KC when I grow up one of these decades. Yay, KC! Rah, rah sys-boom-bah! ^_^

You can still _laugh_ at a three legged donkey. And they don't run away.... at least, not very fast.

I have had to make some furniture changes, because sitting for long hours in a chair that doesn't really fit me was starting to _hurt_. The newer one is better but still not great; I have some shopping to do post-season. I am currently banging my head against a nasty S-corporation return where the balance sheet won't balance and I'm having trouble tracing transactions for loans the shareholder made to the company and payments to the loan to her funding source and back to herself. And I spent an hour today going over info needed for Sch C with someone (returning client) who I thought was bringing papers over but instead wanted a tutorial. Same tutorial I gave her two years ago. Sigh. The good news is I caught up on about 2/3 of the backlog over the weekend and am hoping to catch up some more before yet another slew of returns pours in the door. Another big plus is the local shop had wild salmon today, so we're having wild salmon, fresh bread, and sauteed kale/red cabbage/onions for dinner. Yes, I get to make it --- but it will still be yummy. Thanks for asking! Catherine

Argh! Now you tell me! That warning drove me nuts last year (for the same reason; assets fully depreciated before I ever got the client). I'll remember for the next time; thanks.