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MN2V

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Posts posted by MN2V

  1. I guess I didn't make myself clear. The children did not live in the house at all. So there is no exclusion for them. I know how to figure the basis for them, I just need some support as to if it is personal or considered an investment sale...

  2. Parents sold home and moved to assisted living apt. Children's names had not appeared on property tax statements in

    previous years (don't know how important that is)

    but when the sale occurred, 2 adult children each received 32% of the sale price and a 1099-S.

    I meet with one of the adult children Monday and need to be prepared for his answer to my question as to when the

    32% was gifted to him.

    Can someone give me best/worst case situations and which form I start on? I know I can figure the basis but

    I am unsure about business or personal, capital gain or ordinary. Thanks.

  3. JANESVILLE Minnesota

    Home of a reversible 9 hole golf course...one of 3 or 4 in the country.

    Town name is spelled out on 10 grain bins at the edge of town (one letter per bin)

    "Doll in the Window" hangs from second story window of home of a strange guy.

    and slow down when you go thru town as the local cops are very active!

  4. Okay, The situation is this...

    Form M1NC was automatically added to my forms.

    MFJ return, didn't itemize but took the $1000 Real Estate Tax additional standard

    deduction...When it flowed over to MN form M1NC is not required as the info

    goes on M1M line 11, but if the MN1NC form is in the return, an incorrect calculation

    is made on line 29 and line 30 which carries over to MN 1 page 1 line 8..leaving their

    taxable income $1000...

    I sent an e-mail to ATX support, but who knows how long it might take.

  5. [What IRS email acknowledgement? I look at the ack in my software, and that's it. Have NEVER gotten an email from the IRS.

    Add a form 9325 to a return after e-file is accepted and you will see that it is filled in with the e-file information.

  6. Sign in my office states "Prices subject to Change...according to customer's attitude."

    I'm in home office in MN and average 1040 with a couple of w-2s; sch a and couple other forms starts at $150...and it does vary according to client's record keeping and talking...some of my older clients just want to visit and gladly pay my price to do it. They know that their return gets more complex as they get older.....

  7. Is this interest and dividend income? Have the parents file 8814 and claim the child's income. I know they can with interest I am not sure about the partnership part, but if it comes on a K-1 as interest it should work.

  8. Question for Blackenend....What does firewalls etc have to do with the fact that Minnesotans could not e-file until mid February...and even then had to re-create and re-send all the returns because ATX screwed up? The software is okay...the tech support, as someone said, is standing in the unemployment line in Maine.

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