MN2V

And I just did the return for the poor nanny he had hired...She asked several times shouldn't they be withholding something and the reply was we can talk about it later. So all she got was a post-it note with the $ amount written on it....

Thanks for the info. Unfortunately it doesn't affect the teachers who are really not appreciated by our legislators who are now trying to get legislation through that anyone with any college degree who takes a 5 week class with no student classroom practice can be a teacher! sorry...I hate the way Minnesota governor loves to say No New Taxes...no progress! There, I feel better.

Okay...box 8 should be 771 box 9 should be 399 with ny as code right under that In the lower section code D should be on first line 372 should be on next line 13 is on the next line and NY just below that.

Be sure you have the code right for taxable to the state and then put in only the amount that is not taxable to the state.

I just re-read your e-mail. That info goes into box 8 and 9 and be sure to enter the state.

On the 1099-int scroll down below the form and you will see lines for excludable interest from box 1 enter the amount and be sure to enter the state on the next line.

On the 1099-int scroll down below the form and you will see lines for excludable interest from box 1 enter the amount and be sure to enter the state on the next line.

The 9325 form fills in automatically when efile is accepted. In my office the client does not get copy of the return until after e-file is accepted. The 9325 is the last form printed and added to the return. I staple it on the left side of the folder, the client letter and return are on the right side. I think it is important for the client to see that their return was accepted...and it helps me also so someone doesn't get lost in the shuffle...

THIS IS INCREDIBLE... Read all the Numbers... Slowly and in Order!! Be Careful not to MISS ANY 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Scroll down .................... TOMORROW I'LL SEND YOU THE ABC's It so easy to amuse tax preparers in April...

Just got a call about amending a tax return for someone to take advantage of the new homeowners credit. Can they file for that even before the closing papers are signed?

To avoid this situation with the retirees I have them claim 9 exemptions on the W-4P and then fill in an amount on the additional amount to be withheld line. As I understand the $400 workers credit...6.2% of earned income will be calculated and shown as a credit. But instead of getting the credit when the taxes are filed, they are getting it now. Ask them what the difference in the payroll check amounts are and multiply that by number of pay periods to determine if they go over the $400.... phaseout starts at $75000 or $150,000 MFJ

The Hope credit is limited to $3600 and if he is a full time student his regular tuition is probably more than that. The client may think the bartending class was included, but in reality it would not have helped.

The theory is that you have to recalculate the federal return not including the items not approved by MN with the latest changes (tuition, educator expenses are most common). Be sure you include MN M1M (additions and subtractions form) so items flow. What adjustment are you trying to make?

Line g is just an arbitrary number and doesn't appear anywhere else. I usually juste enter same amount as line f. Clergy housing allowance is never excessive.

If it is in box 14 it is the Railroad equivilant of Social Security and Medicare....use Tier I and Tier II as your code. Also the RR does reimburse a $ amount but it is not the full amount allowed by DOT. You need to know the number of days/nights they were away from home, figure the meal allowance and subtract (on 2106) the $ reimbursed. This all goes on Sch A.

And we are up to Version #80 of the 1040 e-file info form...but who's counting? I still think we are on track to hit version #100 this year. What a Programmer Division!

But hey! Look on the bright side...He is generating a lot of money in back taxes for the government.

Download updated forms and when you open the return it should be the correct version. You will have to do that with any returns you have ready for e-file before you download the update. Yes, it is a pain...but you shouldn't have to re-do the Sch A.

Wow! How many times does it take to get it right? 76 versions....scarrry! They should have waited until Friday the 13th...or maybe we will have version #77 tomorrow...

If the parents are not claiming child care expenses why not consider it hobby income on Ln 21.

Prepare the client for the worst...Penalty is 50% of what should have been withdrawn and I have never had any luck asking for forgiving the penalty. The thing is you have to send the amount in with the 5329 and they will send it back if they feel like it...

KC..where do we go to find release dates? I am waiting for 8606 for a lousy $18 savings...

I couldn't believe my 7 e-mails from ATX today (Sunday Feb 8, 2009). Like they have nothing else to do? Several of the e-mails would have been more appreciated in January! and some of them (Junk Mail type) I don't need at all. I am not a fan of the Auto Shield... Did anyone else get this "special attention " when we are the busiest?

Thanks LindaB. I have been having trouble also. Glad to hear it isn't just me. Time for another cup of coffee...

I am sure their intent was to take some of the parents money before they had to go into the nursing home(which the father has now done, the mother has recently passed) so when I determine when the gift was made can I consider it a capital gain sale? The reason I am trying to think of everything here is that I do taxes for one sibling and another preparer does the other sibling taxes, and is very agressive...so there will be questions if we don't do it the same.