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jmallard

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Everything posted by jmallard

  1. Testing to see if I can upload an image.
  2. Thanks for suggestion. Yes, box 2 was filled in on both forms and I entered the info on the input sheets. Jerry
  3. Both taxpayers are 43 years old and they both got laid off from work. Worked at the same place. To test the software, I changed the distribution code to a "1" on both 1099Rs. Program auto opened a CA 3805 and added penalty. Auto added a penalty to the Fed return, but did not warn me to open a form 5329. I opened a 5329 at it was already complete with the penalty added. Changed the distribution codes back to "L" on both 1099Rs and the penalties were removed. Jerry
  4. Stated above both were "laid off" work. Jerry
  5. :angry: Forgot to mention that the taxpayer is under 59 1/2
  6. Hi, This is the first time I've ran across a code "L" in the distribution code of a 1099R. Code L on the back of the form stats, "Loans treated as distributions." The client states that they had borrowed money from their 401k and were laid off work before being able to pay the loan back. I know the money is taxable, of course, but my questions is, is it subject to the 10% Early Withdrawal Penalty? The program software usually auto opens a Form 5329, but in this case it did not. Just want to make sure the distribution is not subject to the penalty. Thanks in Advance! Jerry
  7. I thank everyone who responded. I tend to agree with kcjenkins, but I am going to file for her in VA, just to avoid any questions. Thanks again for responses. I Love This Board Jerry
  8. Hi, I have a client who is a single elderly lady. Her husband (Retired USAF) passed away a couple of years ago and since they did not own a home in their home state - Washington - she decided to stay with one of her sons in Virginia. She has one son in Washington, 2 sons in Texas and 1 son in Virginia. For the last three years, she lived one year with the son in Washington (2007) and the last two years she has been living with the son in Virginia (2008-present). For the last two years she received her Social Security income statement at her son's house in Washington. She still has a checking account in Washington. But her 1099R from the Air Force for her husbands pension, the statement is addressed to her in Virginia. She says she will eventually go back to Washington but apparently not in the near future. I'm wondering if I should file Virginia Income Tax for her because of the Air Force retirement income? Now, fortunately she does not owe any income tax for 2009 in Virginia but I am thinking that if she has the Air Force retirement 1099R sent to her son in Washington, then there would not be a problem, no matter which son she lives with. Other two sons live in Texas (no state tax) so that wouldn't be a problem. Not trying to do anything under the table, just wondering how to proceed for 2009 and future tax years. As always, thanks in advance. Jerry
  9. Duh! I really missed this one. Thanks for all the Birthday wishes. Jerry
  10. Thanks JohnH and Kea for the replies. Finally got through to ATX Support and they do have a conversion program to convert the TRX data and they had the install codes for 2008 Archive CD. Their site is just down for now. At least, my problem will be solved. Jerry
  11. Hi, Does anyone know of a program that will convert TRX data to ATX ? Last year I went to TRX for my tax software because I could not afford ATX. I only have 50 customers and it was just not worth the money for ATX. I used ATX since 1998. When TRX offered ATX software for 2009 at the same price as TRX, I opted to go back to ATX. My problem is how to or if the is a way to convert my 2008 customer info to ATX for 2009. ATX sent me an archive CD for the 2008 Tax Year, but of course, I do not have an installation code for 2008 software. If I did, I could just convert my 2007 data to 2008 and then convert my 2008 data to 2009. Anyone have any ideas. I'm on hold now with TRX to see if they have an answer. Any help would be appreciated. Jerry
  12. Thanks August, I too, have bookmarked this page. It will be handy Jerry
  13. Hi, I have a client who receives income from a Trust located in Texas and client receives a completed Form 1041 to file and a Schedule K-1 from a CPA firm. I am in California. Included in the paperwork my client received was a 2008 Consolidated 1099 Statement from Edward Jones (EJ). The EJ statement has entries for Total Ordinary Dividends - Qualified Dividends and Total Capital Gain Distr. The Recipient's Identification Number on the Statement is the same as on the Schedule K-1. These figures are not the exact same as those on the Schedule K-1, but close. My question is which one do I use to report on my clients tax return ? Or (God forbid) I don't have to combine those amounts do I? Thanks in advance for any advise. Jerry
  14. Hi, I have a Form 1098T (Tuition Statement) from a client with the following entries. Box 1 - 0 Box 2 - $5.00 Box 5 (Scholarships or grants) - $1183.00 My question is, is the amount in Box 5 taxable as income to my client ? Thanks Jerry
  15. Hi Everyone, I have a client who is married to a fellow who is in prison for life. She has not divorced him because he is a retired Marine and as long as she stays married, she still gets medical and other benefits. BTW - she is diabetic, so the medical care is important. My question is, can she still file as Married Filing Jointly ? She has full power of attorney from the husband and can sign his name (I guess). Of course, he has no income. If possible, can someone explain how I do this? Thanks Jerry
  16. Ticked me off! Client of 18 years. Started doing his taxes while we both worked for a company in California. After two years he moved to Illinois and works in Missouri. Only short form stuff but have been doing his taxes ever since. He calls yesterday and said he is going to have his taxes prepared by someone local to him because he moved and bought a house and did some withdrawals from his 401k. I said I know how to prepare those kinds of forms. Then it comes out that his "girlfriend" wants him to use her tax guy. He definitely don't have any gonads. Jerry
  17. kcjenkins Thanks very much for the information. I feel much better now Jerry
  18. Thanks for the responses - appreciated very much. So, to make sure my pea brain understands this, if I have an item that is fully depreciated, I can just drop it from my list of itemized deductions and if I just throw it away or give to charity (with no deduction), there is no recovery ? I could buy a new computer system every 5 years and not worry about the old fully depreciated computer ? Convert it to personal use then throw away or give to charity (no deduction) ? In the case of my client. Has computer system bought in 2002, and depreciated 2002-2005. He bought new computer system Jan 2006, converted the old system to personal use and took no depreciation in 2006. So, 2007 would be the end of the depreciation period, do I have to recover anything or just drop the item from the list of depreciable items ? I like the idea of considering Tax Software as a one year use item. Except for the rare amendment or someone who did not file that year, I never use the old tax software. I'm going to start writing off the full cost each year. I've been depreciating the tax software for 3 years. Thanks in advance. Jerry
  19. Hi, I have a client who converted a computer system to personal use. I noted the conversion in Asset Manager and the date, so no depreciation was shown or taken for this item in 2007. I'm not very knowledgeable about recapture rules so I was wondering what happens to this asset ? Do I have to recapture previously deducted depreciation on this item when the client makes a final disposition ? What if he just throws the computer away (or disposes through proper "green" chanels) or gives to Goodwill (with no intent of claiming a charitable deduction) ? This subject brings up a general question about depreciation for me. I've been in business since 1984, Taxes primiarily, and I still have most every computer, printer, & depreciable accessory I ever bought (yes, I'm a pack rat). I have never reported a disposition on any of these items. Just dropped from depreciation list after useful life. However, I did sell and replace a few items and did the "like in kind" exchanges. When I die and/or go out of business and my wife gives all this stuff to charity (for no deduction) is the IRS going to come back and say she has to claim all the depreciation on the business equipment as income ? Take our ATX tax software (or any business software), after depreciating for 3 years, are we supposed to recapture the depreciation ? I still have all the CDs, Tax Books, etc. The software is not really converted to personal use or anything, I just still have it. Thanks in advance! Jerry
  20. Hi Everyone, I got an e-mail from a gentleman inquiring into my expertise in NOL and Form 1045 filing (which I Do Not have). This guy needs assistance and lives in the Denver, CO area. If anyone in the Denver area is interested in a possible new customer, send me an e-mail [email protected] and I'll put you in touch with him. Here is the text of his message: His response to my reply of offering to find him a Tax Professional: Thanks Jerry
  21. Judy, Sorry for reviving an old post, but can you tell me where you did a reverse look-up for an employer identification number? I have a client who only has a pay stub with the name and address of the company, however, the company (owner) has pulled up stakes and left the stage (CA) With no EIN, I can't e-file the return. Thanks, Jerry
  22. I have been using ATX since 1999 and have always liked the improvements every year. I like the form based input. I previously liked the ATX Support and ATX Community Board. I had been using ATX 1040 with free e-filing and three states (the exact amount I needed). My 2006 ATX Package was $381.00 from ATX My 2007 ATX Package was $420.23 from ATX/CCH. With only 50 customers or so, those prices have been acceptable. The thing that pissed me off the most was CCH dropping the free e-filing, without notice - I will not forgive them for that. I went ahead and upgraded to ATX 1040 OFFICE to get the free e-filing because 99% of my customers e-file, so the $231.00 increase pretty much made it a push for what I would have been charged in e-filing fees. So, my total cost for the 2007 package was $651.35. My renewal for next year is $690.14. That gives me: - ATX 1040 Office with all States & 100 e-files - CCH 1040 Express Answers - Training Webinar - Early renewal training promotion Last three - None of which do I use or want Plus, the $69.00 Shipping is just outrageous. I shipped two tires and wheels to Texas for $76.00 (70 lbs). Pardon me I know all this has been said before. 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. I intend to post these concerns on the "Official" ATX board before I make a decision to renew. It will be interesting to see their answer (if any). Jerry
  23. I consider this board "HOME" for ATX Community. I this place. Are you using the official ATX Community? I voted "yes" on this question only because I have looked at the official ATX Community board. I do not intend to post unless it concerns software problems or billing problems (which I've already had). Jerry
  24. Pacun Thanks for the information. I just did't have time to track down the answer. Jerry
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