JRS

Have one client and even before efiling the return, never sent anything in and never a problem.

Great. Thanks for sharing.

If they are going to be here next year, I would hope for a simpler combination to the safe - er - My ATK. As I have said before, I have only been able to access the site twice and finally gave up. I can get in to the IRS efile site easier, even when I blow the password reminder.

Sorry, I forgot the ATX version is miserable. I used it once and I thought I was back on dialup. I use PDF995, which works almost identical to pdffactory.

Convert the organizer to a PDF file then attach it you your client's email.

Maybe I misread the post, but someone with 29 trades is not a day trader. I had a client 3 years ago with just under 500 transactions (less than a 1000 trades) and it a major effort on both our parts to convince the IRS, he was definitely a day trader. (Probably, because he made money.)

After going through the confusion you are having a few years ago, I took the same route as michaelmars and just let the program do its thing. I had a Schedule D only(?) audit a couple of years ago and the agent skipped right on past the PTP even though I had screwed up and taken a partial loss that I should have carried over! That was the only thing I was worried about and my client knew it. From then on I let ATX do the work.

Good luck! I have finally given up on MyATX. Each time "they" reset my account, I was able to use it once then was locked out. The last email I got from them, after waiting ten days, basically insuated that I was lacking intelligence because I wasn't changing my password when I was notified it was time! I assumed the carrier pigeon got lost on the way to California.

I have a few clients who use options, but their 1099 breakdown always show, even though not reported, options as Puts and/or Calls. If the put or call is exercised, I adjust the basis acccordingly, etc. If the option is not exercised then I entered it like a stock transaction. One client's 1099B actually adjusts the basis for the option. But what you are describing sounds like you need to talk to the broker or rep to figure out the 1099. The scary thing is putting "Structured Financial Product" into Google and seeing what comes up. Sorry, I could really help.

There is no input for OID. You entered it on schedule B as interest and note OID next to the entry. See OID instructions for Schedule B.

The only exclusion I am aware of is the deduction for New Mexico tax exempt interest on line 5 of the "PIT-ADJ" It works as an exemption in that it reduces the federal AGI for NM taxes.

I had exactly the same situation, probably two weeks ago. Since they were not ready for transmission, I just figuered it was a quirk in the program or I hit the wrong key and did not realize it.

I found this on the actual 1099Q on the IRS website. Not in the instructions for the 1099QIt maybe it will help. It did not copy correctly so, hopefully the link will work.

http://www.irs.gov/pub/irs-pdf/f1099q_07.pdf

Instructions for Recipient

Box 1. Shows the gross distribution (including in-kind distributions) paid to you this year from a qualified tuition program (section 529) or a Coverdell ESA (section 530). This amount is the total of the amounts shown in box 2 and box 3. See Pub. 970 for more information.

Box 2. Shows the earnings part of the gross distribution shown in box 1. Generally, amounts distributed are included in income unless they are used to pay for qualified education expenses, transferred between trustees, or rolled over to another qualified education program within 60 days. Report amounts included in income on the “Other income” line of

Form 1040.

Box 4. This box is checked if you transferred the amount in box 1 from one education program to another education program in a trustee-to-trustee transfer. However, this box may not be checked if the transfer was made from a A (Form 1040), Itemized Deductions.

Thank you for the spreadsheet. It is really a time saver. For someone who states, "So for us dummies...", I think you are underrating your talents!

This was a couple of years ago, but the basically same thing happened to a client who was my ex client who moved and now drives 4 hours to have me do their taxes. Same scenario, Jane Doe screwed up, we will amend and do this year's return. Client went back in to pick up returns and refused to pay the $200 amend fee and the $200 for the current return. Called me, I did the returns and all was OK, until six weeks later when the IRS notified them their current "mailed" return did not even come close to the "efiled" return. HRB had efiled the current return without any authorization. Three weeks later, a similiar letter came from Ca FTB. Both the IRS and Ca reps told the clents, that particular HRB office was in very deep trouble. (It opened under a new owner the following year and has since closed down.

Well, move over JRS -- I'm in that endless loop with you.

It locks you out within 3 tries. They have our accounts locked up tighter than Fort Knox! I don't know what is so important or secret that we need to change our passwords CONSTANTLY. Even when I am able to get into MYATX, it doesn't tell me much.

Some sort of record two email replies to my password and locked out problems in one day, only after waiting ten days. The solution still didn't work. "I unlocked your account." unfortunately, my account didn't get the message.

Unfortunately, it dosen't work when you are locked out. After ten days, I just got a reply to my third email giving my instructions that I followed to the letter. I felt I was on an endless loop. I entered the Client number, ADMIN, the numbers, then the secret question the the magic phrase, you account is locked out click here to reset. Again and again .....................

From California Frtanchise Tax Board's website:

I did not live in California. Do I have to file a return?

You are required to file a Nonresident or Part-Year Resident Income Tax Return (Long of Short Form 540NR) with California if you have income from California sources, such as, rental income, income from the sale of property, or partnership income in 2007 and you are:

Single with a total income from all sources of $13,713 or more

Married with joint income from all sources of $27,426 or more

I just gave up on MyATX. The first time it took 4 emails, then I got a phone call. The solution worked while I was on the phone. The next time I signed in, I was locked out. More emails and no response.

The only "factoring" in accounting I am at least familiar, but don't know how to handle, is the "selling" of accounts receivable at a discount. My father would do it for his grocery stores. He would take a day's receipts and sell them to a supplier.

Sleeping on your problem, since there is a check mark in Box 12 of the 1099B, one would have to assume this was an award rather than a stock option. Options have basis, even if it zero. In this case, with the check mark the basis is definitely zero and shows me that it was an award. The sale of the 43 shares, though, still bugs me and I can't find an answer.

The majority of my clients are heavy stock market and option traders. You are correct in the way you have handled it. Just like a normal stock trade. 1099-B Gross sale minus the basis equals her cap gain.

Thanks. Since I haven't been able to get into My ATX for over a week, (They don't seem to answer emails), I appreciate that.

I just copied this from the FTB site. It is easier than going by memory since I go to it so often. This applies to both residents and non residents.

Individuals who can be claimed as a dependent on their parent's return, or someone else's return, have a different filing requirement.

Dependents must file a return if their gross income form all sources is more than their standard deduction. The filing requirement is based on the standard deduction even if the dependent itemizes.

Single standard deduction for 2007 is $3,516

Look up IRS PUB 550. In Chapter 4, it explains worthless secuties. The link is for "Frequently Asked Questions" and gives you an over view.

http://www.irs.gov/faqs/faq-kw210.html