JRS

>> I'd wait until after 18 April <<

I agree.

ATTN: Tax Professionals

The IRS today released information on processing issues that are impacting a small percentage of tax returns involving repayment of the First Time Homebuyer Credit (FTHB), primarily involving 2008 home purchases. While most of these returns are processing normally, the IRS recognizes the hardship caused by delayed refunds and it has assigned additional staff and resources to address the issues promptly.

1. Married Filing Joint taxpayers who received the FTHB credit on a 2008 purchase

The IRS projects that some of these taxpayers will receive their refunds as soon as April 5 and others the following week.

2. Taxpayers who received the FTHB credit and are now reporting the sale or disposition of their home

The IRS projects that taxpayers in this situation should receive their refunds by the end of April.

3. Taxpayers who received the FTHB credit and are attempting to pay back more than the amount required (typically $500)

The IRS projects that taxpayers in this situation should receive their refunds by the end of April.

The time frames above assume there are no other issues impacting the taxpayer refund, including federally mandated offsets to refunds.

It is important to note that taxpayer returns claiming a home purchase in 2010 are not affected, and those returns are being processed as are the vast majority of other homebuyer returns. Additional information is available on IRS.gov.

Because the IRS is aware of the issue and working to resolve it, taxpayers do not need to contact the Service regarding this matter. The IRS apologizes for any inconvenience.

I list F/S/J on all my 1099's. I have a few clients with separate accounts along with joint accounts.

Phillp is right. Enter the dostirbution on line 2 of the "statement." It should flow from there. Hope this helps. The distribution should enter on line 14, then enter the medical expense (the distribution)on line 15.

"but ATX's portal (to Intelliconnect, too, for instance) won't accept anything but Windows' Internet Explorer."

I just ignore the "IE" requirement and go on through with FireFox or Chrome, with no problems.

You should be able to remove AVG Secure Search be using add/remove. I have been using Microsoft's security essentials. I dumped AVG when it screwed up my computer with a bad update. I went to Avast! until it crashed a program with a bad update. The link below is a repeat of what I wrote.

http://answers.yahoo.com/question/index?qid=20101028154644AAgmLBQ

And I thought she was going to talk about a client.

New version is 2010.4.5. (At least mine is.)

Same version - 2010.3.6. My concern is when I update and the response is "some forms were not available for download"? and that is all?? :scratch_head:

:mad: YES

AND, I thought it was hard trying to explain Ca only has three estimated payments. I wish you luck.

"I'm having the same experience. Everything seems to be working OK here also."

Same. I checked ATX and the Website says last program update was 2/23! I know I have had at least one since that time, K-1's were not flowing and C/S said a program update was in the works and it happened without a restart.

Great, I have already sent to two of my clients (close friends)that had THAT broker. As an aside, isn't the male voice, the voice old ATX used in the interview?

On the drop down menu for foreign country, in a most unlikely place, after looking through tons of countries you have never heard of, is "other county OC."

Sorry to hear you have a cold. Keep in mind the latest studies have found that straight honey is a better cough med than any of the over the counter cough syrups. Honey and lemon juice, or honey and bourbon if you prefer, is even better, as the first version cuts the over-sweet taste and the second will help you sleep.

Straight JD Single Barrel works the best, especially after the last client of the day.

I have an Excel worksheet that I use for clergy. I was able to import it into the program and can place it in any clients return file and the formulas are intact. In Return Manager go to Forms, then Customize Master Forms, then to Customize, then to Add Excel Sheet as Master Form, then find your form, name it and place it. I placed it under federal. When you go to add it to a clients return, you select Federal and Customize and it will be at the bottom of the forms that you can select. Worked for me.

Thanks, works great.

I wish I did. I talked to ATX a couple of years ago and they said no way. Hopefully, someone can come up with a way. I can really use this.

I don't know if this is just a glitch in my software or overall in ATX. Losses on the 1065 K-1 for PTP's are not going anywhere. Gains seem to flow correctly. ATX is working on it for me and are supposed to get back to me today. Customer service was fine. The person who took my call, realized he was over his head immediately and had an upper level tech work on it. No immediate correction or fix, but I felt OK about the responses.

What does ADR mean along with a stock name on a Form 1099-B? ASML ADR shares sold, for instance.

American Depository Receipt. This is a foreign company traded on a U.S. stock market. This particular company is based in the Netherlands. You handle it like any stock sale, nothing (normally) too complicated.

"Who must file. Each person engaged ia trade or business who, in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300. Any transactions conducted between a payer (or itsagent) and the recipient in a 24-hour period are related transactions. Transactions are considered related even if they occur over a period of more than 24 hours if the recipient knows, or has reason to know, that each

transaction is one of a series of connected transactions."

To me, the key word in the instructions is cash. That does not appear to be the case in your post.

This is also why I am not really happy when a client brings in ETF's. Some contain straddles, K-1's, and metal ETF's. The client really gets upset because they were "such a great investment with little or no downside in this market" when I tell them this year's tax prep fees are probably going up a $100.

JRS: sounds like you have researched this. I would have thought that ETF's and SPDR's, being registered securities and not the actual precious metals, would be treated like other securities, i.e. regular capital assets. Isn't the 28% rate for "collectibles"?

Gold, silver and other metals are considered collectibles. This must have been decided back in "the dark ages." If you go to the SPDR Gold Website, you will find this in the fine print. You will also find that the primary exchange is Hong Kong even though it is traded on the NYSE.

"The Gold Shares represent fractional, undivided

interests in the Trust, the primary asset of which is

allocated (or secured) gold."

Blind "Enter 1, if both... enter 2" Long night for me, too!

What about SPDR for gold?

Yes, 28%.

Side question. Can gold be held in an IRA? Or an ETF on the gold metal itself?