Catherine

FWIW, I have had a couple of random shutdowns this season, and another couple of random times when the program seemed to freeze - but each time it eventually (probably not more than 30 seconds) responded just fine.

I've had to call support a couple of times this year, and each time I've gotten someone on the ball, very helpful, and was able to resolve the issue. One item (don't recall it) took two calls but it was a subtle thing. 

You'll still see me using guys or folks. Both, to my mind, are utterly generic - like Kleenex is a tissue, rather than a brand. Y'all is a regional term that I've heard people being castigated for appropriating when they are not from the South.

Tough noogies. I got no patience for thin skins when we're all just trying to help each other out, and find getting offended to be offensive.

Client sold off a bunch of stuff that he doesn't use any more on ebay, and got a 1099-K. He actually had purchase prices, and purchase dates on all the items! However, there are a slew of the #$%^ things, and the total gain for the entire year was a whopping couple hundred bucks. 

Is it kosher to bundle these by month, so sale totals match the 1099-K monthly totals, for only six entries (he didn't sell in every month), or do I really need to list every bleeping one of these things (several dozen) individually?

Prior year returns get my current-year rates, adjusted as always for complexity of the return in question. Won't even look until after 4/15 or they can go elsewhere. Have a new one this year, two amended returns, sent by his brother who is handling their now just-passed mother's final return. He's fine with waiting until May, after discovering an error for 2021 & 2022 (thanks, TTx - the gift that keeps on giving). 

We'll get one on occasion. Many times the email address is junk. Sometimes it will be something like "Joseph Smith, [email protected]" and if you look up smithcorp dot com there is no site. Junk!

Thank you, @mwrightea - that's (mainly) what I told the client.  I've added in to the basis the assessments that were tagged with comments such as "Assessment - road improvements" plus a couple of selling fees.  Thank you.

No, they most certainly did *not* tell him about penalties for not withholding taxes - and of course, none were withheld. They're going to have a tidy little bill from Colorado.

6 minutes ago, Lion EA said:

Don't you love realtors who give tax advice?!

Some of my favorite people, yeah - not. They were probably thinking about the CO capital gains exclusion for farmland bought before 2009 - but that's (a) only CO, and (b) only for those filing Schedule F with their 1040.

Client sold property in Colorado, part of an association. He tells me that the HOA dues and assessments for the entire time he owned the place are additions to his basis, and that the CO realtor told him this is what is done in CO. 

Sounds suspicious, at best, to me. I can see assessments being added to basis (association roads, roofs, etc), but not standard HOA fees for mowing and plowing and general maintenance. Can't find anything in Colorado rules about this. Anyone here have advice? 

eBay is sending out gazillions of 1099s - as long as the total went above $600, you got one. Heck, my husband got one for selling a couple of used tools that he upgraded. No gain; he sold them for no more than cost + shipping fee. Often less than his cost, as they were older (but not antique/collectible/worth a premium). He is decidedly un-amused that he now has to dig out all the details for me.

Panels are next to the house, connected to the house, for the house. Lots of reasons - including structural and where the trees are - influence the location of the panels. I would not hesitate.

First question I have is how much money are you talking about? A couple thousand bucks of ladders and drop cloths and stirring blades? Or tens of thousands including scaffolding and compressors and sprayers?

If the latter, and they honestly don't have invoices, send them to get you (1) a detailed & annotated list including item, who purchased from, for how much and when, and then (2) prices for new same-type items from Lowes or Harbor Freight or specialty suppliers, showing prices. 

If comparing those two shows a reasonable price paid for used - as opposed to new - equipment, then I would accept it. After reading them the riot act (in print - and get them to sign & date that, give them a copy and you keep the original) that they are never, ever, to buy substantial equipment again without at least a sales receipt showing date, amount, what, and from whom purchased. 

If the former, I'd still do the letter riot act, and have them bring price sheets for similar ladders etc., but not necessarily require as strict an itemized list.

If that means they go on extension while they dredge this all up, that is not your problem, but theirs.

Of course, if you think they're cheating, or that they stole the equipment, hand 'em back their docs and wave bye-bye.

4 minutes ago, Lee B said:

We've been replaced

Only until the notices come in!

Just add a zero...

My daughter gave me a placard for my desk that reads, "I can explain it to you, but I cannot understand it for you."

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.

16 hours ago, DANRVAN said:

Does the estate have any other income to report?

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. 

23 hours ago, Sara EA said:

the state is classifying the money as stock proceeds

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...