DevM

Thank you!!!

Can some one recommend a Tax attorney in FL..?

I have a friend who was audited for sales tax and is looking for an attorney. Preferably in Tallahassee or Jacksonville area.

PM me. I have done a few. I can walk you thru..

When I upgraded from WIn2016 to Win2019, I copied all backup files of ATX and Payroll from 2013 to the new server. If you have a need to use Payroll from 2015 onwards, you will need to install the software, apply license keys for each year and restore from backup for each year.

I also have PDF copies of all 1099's, W2s and Qtrly reports so no issues.

I have Lenovo laptop with windows 11 and installed ATX 2017 thro ATX2022.

All have been running fine.

On 2/17/2022 at 2:22 PM, G2R said:

Thanks Dev.  Do you know when ATX updated this?  I was just working on a return last night and didn't see the numbers flow as you've described. 

I think it was updated around 2/8

5 minutes ago, Robin Johnson said:

Yes.  Totally.  They took a $33,000 distribution and have no basis.  Their tax exempt/ppp loan forgiveness is $71,000.  The software is not showing the distribution on line 7 of the M-2 AAA column but when it loads to their 1040 it is allowing the distribution due to the $71,000 ppp income.

 

It does show as distribution to Other Adjustment account.. so in your case it will show as distribution from 71K (Other addition).

Clink of line 7 (Distribution) M2 and you will see the flow.

you add Loan Forgiveness to AAA as other additions (i.e additional paid in Capital). If the EOY basis is still negative.. no Distribution.

If there is distribution it will go as carryover Loss.

you need to put it on Sch K (Page 3 of 1120S line 16B the amount that is forgiven. ATX program has been fixed to populate M1 Line 5a and M2 line 3 (Other additions)

It is populating based on what you have in E-file tab in Preparer manager.

Looks like ATX has fixed the issue with current release of updates.

Yes.

NJ PTE payments must be made online..

https://www.state.nj.us/treasury/taxation/ptepmtsystem.shtml

I have opened an issue with ATX add GP on M2 Line 7. will post the response.

In my opinion ATX is working fine as far as adding GP to M1 Line 3, however it should also deduct on Line 7 of M2 unless they left it out due to some other adjustments needed 743(b)..?

Based on the revised instructions you also need deduct the GP on Line 7 of M-2

See IRS instructions:

M-1 Line 3. Guaranteed Payments Include on this line guaranteed payments shown on Schedule K, lines 4a and 4b (other than amounts paid for insurance that constitutes medical care for a partner, a  partner's spouse, a partner's dependents, and a partner's children under age 27 who aren't dependents).

M-2 Line 7. Other Decreases (Itemize) Enter on line 7 the sum of all other decreases to the partners' tax-basis capital accounts during the year not reflected on line 6. Also, if the aggregate net positive income from all section 743(b) adjustments reported on Schedule K, line 11, “Other income (loss),” was included as an increase to income in arriving at net income (loss) on line 3, report that amount as a decrease on line 7. For these purposes, “net positive income from all
section 743(b) adjustments” means the excess of all section 743(b) adjustments to  income allocated to the partner that increase the partner's taxable income over all section 743(b) adjustments to income that decrease  the partner's taxable income. Likewise, if line 3 includes income from guaranteed payments reported on Schedule K, line 4c, include that amount as a decrease on line 7

Ok. I bought a new laptop and installed ATX from 2017 - 2021. All of them are working fine (Just the same as Win 10)

Dont see much difference in the way programs open and work.

2017 unclaimed refunds – deadline extended to May 17

For tax year 2017 Federal income tax returns, the normal April 15 deadline to claim a refund has also been extended to May 17, 2021. The law provides a three-year window of opportunity to claim a refund. If taxpayers do not file a return within three years, the money becomes property of the U.S. Treasury. The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by the May 17, 2021, date.

Link expires in 24 hrs.

13 hours ago, Pacun said:

That server hosts the data from 2013 to 2019 tax years that proseries accesses.  I called proseries and they said that in order to move that data, I had to uninstall and reinstall every year. Then I have to export the data and that takes time. To add the pain, they have about 20 returns each year with password. When it is time to export a file with password, the program doesn't continue until you skip it or you enter the correct password. The process takes about 3 hours but with that stoppage for passwords it could take a whole day. Then you have to go to each computer (total of 10) and install the new program. 

As you can see, this is not a choice of having a new server or a workstation with shared drives but using the existing server and its contents. 

I already have a clean install on a new server 2019 which is the KING of the forest with all the roles properly working. But if I transfer the data, I have to install on the main computer and import the files and then go to install on all 10 computer. Since there are 7 years of taxes, it is a lot of work.

I guess tax software is the only field where data migration is a nightmare.  Instead of improving, they are going harder each year. I remember when ATX, you would copy the database folder and you could point the program to use it without uninstalling.

It is amazing also that proseries, which cost about 6K (not all states), doesn't have an elegant way to migrate the data when replacing a server.

Agreed. It is time consuming.

In December, I bought a new Server with R2019 and did that as ATX 2020 will not install on R2012. I only put 3 years on other workstations except mine (Which has 10yrs). Still have old server as back up for prior years and connected to other work stations(in case if needed).

10 hours ago, Pacun said:

I just retired a Server 2008 R2... but I would like to keep it sharing files but I need to upgrade it to Server 2012 and then to server 2019.  That means that I will invest about $2K buying Windows server 2012 and 2019.  Does anyone know where I can buy cheap software? 

The server 2012 upgrade software, I will use it only for a couple of hours and then upgrade to 2019 where it will be my final destination.  There is no direct flight from 2008 R2 to 2019, so I will have to upgrade to 2012 and then upgrade again to 2019.

Why not do a complete install of 2019, rather than upgrade.

Copy your Data Drive to external drive. Complete new 2019 install and copy from external drive.

Microsoft has Server 2019 software (Essential) for $529.

I am Exporting in CSV from 2019 and Import in 1099-NEC. Saves a lot of time when you have many inputs.

If you Rollover a client you also need to click on items in other Data: (Preparers, Payers..etc)

I always click on other data and all preparers, companies and Payers get rolled over.

As per NJ Website..

NOTICE: Automatic Extension for 2019 Corporation Business Tax Returns for Certain Fiscal Tax Year Filers

2019 Corporation Business Tax returns (Forms CBT-100, CBT-100U, BFC-1, BFC-1-F, and CBT-100S) are currently in the process of being finalized, which is delaying the start of the filing season.

Taxpayers with accounting periods ending between July 31, 2019, and November 30, 2019, have been granted an automatic extension to file their tax returns by April 15, 2020. The taxpayer will not be charged late filing penalties if the return is filed by the April 15, 2020, extended due date. The extension applies only to the filing of the return and does not extend the time to make all required payments.

In addition to the automatic extension, taxpayers can submit the Corporation Business Tax Tentative Return and Application For Extension of Time to File, Form CBT-200-T, which provides a 6-month extension. However, the return will be due 6 months from the original due date.

This means:

If your accounting period ends on:                                                                                                          

If your accounting period ends on:                                                                                                      July 31, 2019     Aug. 31, 2019     Sept. 30, 2019     Oct. 31, 2019     Nov. 30, 2019

The due date for filing would normally be:                                                                                         Nov. 15, 2019     Dec. 15, 2019     Jan. 15, 2019      Feb. 15, 2019    Mar. 15, 2019

The Division has granted an automatic extension to file the return. The due date is:                April 15, 2020     April 15, 2020     April 15, 2020     April 15, 2020    April 15, 2020

If taxpayers submits an Application for Extension of Time to File,* the due date would be:    May 15, 2020      June 15, 2020     July 15, 2020     Aug. 15, 2020     Sept 15, 2020

I think carry forward is only for 10 years.