Tax Prep by Deb

We can all use a great big chuckle about now! Thanks for the laugh! Deb!

And I much deserved lunch, I would add! Deb!

I too want to say that this board is so much friendlier than the other board was. The general feeling is that of wanting to be of help, and to share knowledge and expertise! I've said it before and will say it again, this feels like home to me! Deb!

I wish it was just a joke someone was playing on me, but I am the only one who touches this computer! Thanks for the tip though! Deb!

Thanks for the link. I checked it out however it said it was corrected with service pak 2 and I have service pak 2 installed. But I'm going to look into it more. Again, thanks a whole bunch! Deb!

There is also a 1099SA Worksheet that you can fill out with the information very similar to the 1099MISC worksheet. Hope this helps! Deb!

Good Morning! I think! Hopefully someone can help me, or explain to me what is going on. I use a laptop as a second computer. Because I am always checking the internet for something or another I often leave it on and either let it hypernate on it's own or close the lid and let it hypernate that way. Well something weird has happened, actually this is the second time and frankly it has me confused. When I open the lid and when it wakes up my screen is totally upside down. The first time it happened, I stopped and restarted the computer several times, and eventually it came back correctly. That was back in January and it has never done it since, that was until this morning. Only this time I have stopped and started several times and it's still upside down. My computer lites up normally until windows loads. It seems to be associated with that. My computer is a Dell Inspirion Laptop and I'm running Windows XP Pro. Any body have any ideas as to what may be wrong, and what I can do to get it right side up? Thanks in advance, Deb!

Ah, but that was in the good old day when it was, and then poof over night it went away. That is what started us being ticked off to begin with. Then poof more and more suprises. So what makes you so sure that if we all left here and went there that they wouldn't pull the same thing again? I personally feel at home here. A community should be a place were people care, and I have felt very cared for here. I for one will monitor the other borad, but for me this is home! Deb!

I held out, and sometime in June I received a phone call, told the sales person I wasn't sure if I was renewing. The sales person asked, I told him I wasn't to pleased about the sudden changes, such as closing the community down just before end of tax season, and also the price structure for e-file. I told him that if I had to pay for the e-file with my client base it would cost me over $1,000.00 more than previous, and that I had no need to upgrade to MAX to get un limited e-file. He asked me if I would renew if I could get an e-file module that will allow me to file as many e-files as I wanted for just $200.00. So I renewed, got my discount and only had to pay $200.00 this year to e-file. Not sure what they are going to do this year, but neither am I sure what I'm going to do. My hopes is the Mel will be able to get something going, and in the meantime I'm going to test run several competitors programs. My biggest complaint this year was the lack of support, which also goes back to them doing something stupid, laying off our support team and forcing us to call a center that wasn't familiar with our program. For me it's going to take some enticements! Deb!

Same here! I'm going to be hitting that red button in the next day or two! Deb!

If in the city of San Diego, yes they have 1/2% local sales tax. Some cities within San Diego county however have higher percent. Hope this helps! Deb!

We can always count on you for a smile! Thanks! Deb

Amen! However I would like to add that we should never forget what the creator of this community did for us by immediately getting a better community up and running. Even though earlier when he had to do some tweaking on this board, he stated he didn't need any more donations, I think it's a great time to remind all of us that now the season in comming to a close, perhaps it would be a good time to send a little more his way, so that this community will be kept alive! Deb!

THIS ONE IS FAAAAAAAR SUPERIOR!!!!!! Personally I feel that every penny I spend on this one is worth it! (But I think you already know that!) Deb!

That's pretty much how I do it. I may not list every line change because obviously if one line changes it's going to automatically effect the others. But I do explain key changes, such as change in AGI, Itemized Deductions, EIC, Additional child tax credit,ect. I also include any new forms that may not have been generated by the original return, such as in your case if AGI is now less perhaps on the original return you didn't file for EIC. I would therefore include the new form. Hope this helps! Deb!

I don't know where you were looking, but I just went to the site and KC's comment is still there. It's under the thread welcome to the ATX Community. So far it looks like they have left all posts alone, those favorable and not so favorable. Please don't take this the wrong way. I only go there out of curiosity. Right now that board is extremely lonely. I remember when I first found this community and logged on the first time. There is just so many more of us here and extremely content, that I can't imagine myself ever going back. I feel perfectly at home right here! Deb!

Same here! I've had several who call and ask what they need to do, I reply come see me, they ask how much, I say nothing! Needless to say I have some very happy people, and in almost every case they have given me a little something anyhow. I honestly feel a little good will can go a very looooooong way! Deb!

I was just on MYATX Site and there was a notice on the e-file tab that if the return has a balance due the person will get a paper check. Apperantly all balance due returns will be handled this way even if paid electronically. Deb!

My ATX site stated that they would be ready to e-file these types of returns, (1040A) on the 6 p.m. drain on March 18. They did make some changes to allow the e-file including including 1 dollar on I believe line 8a. Then you can go to the e-file worksheet, and as was already stated the box should be checked for stimulas payment return, this will then allow you to put the banking info in for direct deposit. As to the question whether IRS will process these types of returns, they did state they will not challenge the $1.00 entry. So apperantly we are set to go. Deb!

Thanks KC. That's were I was going, but just wanted to confirm. Deb!

I have a client who had a friend whose house burned down. Either because she had no insurance or was way under insured she didn't have enough money to rebuild. My client used $80,000.00 of his equity to invest in this project, as well as provided much labor to rebuild it (not in the trade of building houses). When the home was finished it was put on the market and was sold. On the closing papers it states that my client received $201,102.00, and he did. He was never on the deed, or the mortgage that was paid off when this house was sold. I'm not quite sure how to handle this. Any suggestions? Would it be Schedule D? Schedule C? Any thoughts would be greatly appreciated. P.S. No 1099-S was issued to my client. The only record of payment is on the closing papers that his friend provided. Thanks for your opinions! Deb!

Sorry for the date problem. This did occur in 2006, not 1996 like I previously stated. The parents diffinitely lived in the home long enough to exclude any gain. The children did not rent it from parents at any time, they lived with the parents in the home until they purchased it in 2006. At this time the parents moved out and children took over the home. Let me through one more kink in the mix and see what you guys think. Parents lowered the price of the home so that children could qualify for the loan. The house was on the market prior to children taking the home, however it did not sell. Five months later the home did sell for what the parents were originally asking. I do believe, but I haven't comfirmed this, that the children did give mom and dad the $100,000.00 when it sold. This family has done everything wrong as far as I'm concerned. And I just want to make sure that when I do these taxes that I'm doing them right. So I'm spending extra time on this whole issue. So here is my next question: Is there anyway to treat the $100,000.00 as a loan, e.g. seller finance? If so then the extra $100,000.00 would be added to the basis right? I realize this is all a long shot and I'm hoping for miracles as I feel that the children in this have really been dealt a dirty deal. I do not believe they walked away with anything except possible capital gains tax on $100,000.00. Any thoughts? Deb!

I have a client who in 1996 sold there home to their daughter and son in law. In order for the daughter and son in law to qualify for a loan, my client reduced the sales price of their home to the tune of about $100,000.00. Daughter and son in law lived in the home prior to purchasing it, for at least two years, but sold the home after only 5 months of the purchase. My clients, the mom and dad still have not completed their 2006 tax return, I will be working on that right away. Daughter and Son also want me to prepare their 2006 return. The sale of the home 5 months later did generate a profit from purchase price to sale of about 100,000.00. In other words what mom and dad deducted when sold to child is what child ended up with as a profit. My thinking is that mom and dad should have to file a gift tax return, because obviously they gifted 100,000.00 equity in the home. (and this is not just an asumption on my part, parents agree as well as comperative sales in the area). My question is how do I show this on the gift tax return, and also does this mean that daughter and son now add the $100,000.00 gift of equity to the basis of the home which then makes the sale pretty much a break even thing? I am no expert on the gift tax thing, so any thoughts and help would be greatly appreciated! Thanks in advance, Deb!

Actually I've been pretty busy the last couple of weeks and therefore not able to visit this board as often as I would like. Fortunately I haven't had any major problems or questions come up. So far this year I haven't even had to think that hard, it's kind of scarry! I hope that doesn't mean the next month will be a nightmare! Deb!

Likewise, I had this happen with a client as well. In his case several checks went through. In fact over 12,000.00 disappeared from his checking account. Someone used his check info and created themselves some payroll paychecks made payable to about 4 different people and all cashed at a Walmart store. Walmart cashed the checks, the bank allowed the checks to clear even though the person who signed the checks was not my client, in fact that didn't even sign his name. The bank totally screwed things up even in closing the compromised account, things that should have been allowed to be paid weren't and there was some serious consequences. The bank ended up giving my client all his money back, reversed the bounced fees, and issued letters of apologiese to several venders, and even had to write a letter to the District Attorney who was trying to make life miserable for my client. I stopped working for this client close to a year ago and when I had left we were still working with the DA to get the one check that didn't clear straightened up. It took us almost 9 months to get things back to operating smoothly. It's amazing what damage a person can do in a short period of time! Deb!