JRS

I would see if his PTP has a website so you can look at the client's tax package. Most PTP's have a site. This might be the exception to the rule, but I have never seen a final K-1 on a PTP without a sales schedule, even on a short term hold. I had one this year, the client held it for one month and still got a K-1 with a sales schedule. There was no change in the basis, as the client did not have any distributions, but still received it with -0- in the adjustments column.

In my cases, the capital account is increased or decreased by the total of Box 1 - box 5 - box 6. I reduce the basis in most cases (or increase) by this amount. As with everything else in our busines, this is not always correct and someone else might do it differently and tell me I am wrong. But, I have had clients audited on PTP's, among other things, and never had a problem.

Along with his K-1, he should have received a "2007 Sales Schedule", which should, normally, have 10 columns. If he had the PTP for any length of time, there should be adjustments to the basis and a break out of "ordinary gain" and capital gain. If he had a straddle loss, he probably had a powershares currrency fund.

Same problem with 05 AND 04. Reinstalling and new CD didn't help. I get MX3 object not found on 04 and the MDB optimizing on 05. (03 - MX2, but 01 and 02 work perfectly?)

For whatever it is worth, we get TV commercials on "buying or selling your timeshare." There are also places on the internet where you can sell or they will buy timeshares. They are like real estate agents, but they seem more like "consignment sales." Not much help, but a place to look.

I'm staying out of it other than to say that Booger was one of the first posters on the "Official ATX Board", so I have been wondering for a while now what his game is. He has been playing one board against the other which is totally unnecessary. Could we not end the official tax season on a happy note? Many of us will be around throughout the year in some capacity or other. This has been such a friendly and good experience. Let's keep it that way.

Don't let this forum degenerate and force the good ones to leave. Whatever anyone's intentions are or were, we are all here to learn and help. Please "keep it that way."

JohnH is right. Unamortized points are deductable from first refi or mortgage are deductable in the year of the new refi.

From what I understand, only paper filed 2006 returns will get the preprinted vouchers.

From what I found out on another board, the IRS is only accepting extensions on a 12 AM drain. Secondly, Fresno was having a backup of 5000 returns or extensions, no clarification.

I have seen posts on other boards about and the users seem very satisfied with it. I have a very small practice and ATX is working towards and has just about succeeded in pricing me out of business. With required Ca continuing ed price increases and software increases, a small practice like mine is on the down hill slide. So, like most everyone else, I am looking for alternatives and $299 for unlimited Fed, state and efile, to me, it is worth a look. But after next week.

Wish I could help, but never ran into this. The only book I have that has the appeals process in it, is Spidell's Analysis & Explanation of California Taxes, which you probably already have.

I have a client very similair to Duane and my fee has varied from about $450 to $500 until this year, when I rasied the fee to $550 with no complaints and 175 trades. The client is just happy that he doesn't have to do them. I have, in the past, tacted on a stock research fee (time charge) for finding basis and working through mergers and buy outs.

I do it too, for the same reason.

Sounds like we now have to document the client got his/her copies. More than 8879's or a paid invoice.

"I do hope there is a lot of discussion about the TRX software after tax season. Their price is certainly attractive for a small office like mine. I would like to know more about how the software compares to ATX."

$69 for a CD? $50 price increase? I can't complain about the program, I had zero problems this year. My only problem was MyATX. Finally, a week ago, I am consistently getting in, no more password problems. I downloaded the TRX demo, but only have taken a cursery look. Maybe, I'll get time next week.

I have the same problem. Early in the season no problem, lately, no letters. Just another inconvience, along with the mini-organizer.

I don't do K-'s, but when I want a single page, I just hit the "page" icon and it will print the current page. (As long as I change the printer to pdf. I don't use ATX's pdf, because in the past, it created more problems than it was worth.

I have had this discussion with two clients this year, plus I got burned on a bond, and we are waiting until the final decree before taking off anything that was not already dumped. The IRS already has questioned an earlier writeoff, but we weathered the storm and it was not a lot of money.

I can't vouch for the other people here, but let me see if I can clear some of this up. For the record, I'm here in an un-official capacity and am by no means obligated to help anyone in this way.

The security for the MyATX website was stepped up because they now use the same login system as the TaxWise product. The TaxWise product is used by the IRS and Military and therefore they have additional security. They can quickly and easily reset your password to your registration code so that you can log-in once again and change the password to something you can remember. There is currently no wait time to get to Customer Service to have this done(that of course can change at any time.)

As far as prior year software, earlier in the season there was extremely high call volume. Because of this, they stopped supporting all but the current year until after Tax Season. This was mandated earlier in the season due to high call volume. To my knowledge, they are supporting 05,06 and 07 right now(which is standard for tax season, they support the 3 most recent years) and after April 16th they will support all of the prior years.

As far as your form questions, I cannot help you unfortunately, I do not have those answers.

You just enclose copies of the federal return. If the depreciation is different, you use Ca form 3885A, which is on the bottom of the Ca Schedule D.

Software: missing data, slow opening

Accessing support website

Tech support response times

I think it is great that they brought it back. If they hadn't, I would have never known they don't have my phone number and now they will never get it Of course, they didn't get it when the cancelled the board orginally.

I tried to just paste the addresses, but it came out like IRS instructions. One of these days, I'll get these forum tools down, so I can save us some time.

The other Jerry from Ca

Box 3 is a return of capital or cost notation. It is not reported anywhere. It is an adjustment to the basis of an equity in the MS account.

I filed almost the exact paperwork for a car donation two years ago. The internet blue book and paper work from a local high school and no problems. As far as the lawn mower etc., would there not be some depreciation from the receipts due to having the equipment for 7 months? Or, was this already taken into account and I missed it? I would think the docs from the church and copies of receipts would be more than sufficient.