schirallicpa

Taxpayer passed away during 2018. She was an American citizen but had relation in Canada. A few years back she inherited money that was put into an Ameriprise account. Her son, who is Canadian, was beneficiary on the account. He has since transferred the funds in Ameriprise to his own account. Other than the usual reporting of div and capital gains on the account on the 1041, is there special reporting for the transfer of the funds to Canada? The son says he has already paid the Canadian tax on the transfer(?). Also, since the son will be getting an K-1, he will have to file and pay tax in the US.

thank you!!

ah-ha!

Make my own correction - it wouldn't be income, it would be re-capture of credit. But still don't know where.....

I'm thinking that a few years ago I had another client where this happened and we did not amend the prior year return, but reported the credit as income. But where? Is this a line 21 item? (American opportunity credit.) I wish the universities had better reporting methods!

The bank refused the check. I found where we needed to send it back. We also sent the 1310.

Spouse has died before jointly issued IRS check was deposited. Now need to file 1310 to get check reissued. What do we do with the first check?

I have a client that was applying for a loan and the loan officer did a tax search and found that the great state of NY shows that the 2011 return was not filed and the franchise fee was not paid. My paperwork is all in the file. However, how do I prove now that a return was filed and accepted by NYS. The myATX website only goes back to 2016. Wondering if there was another trick to finding that a return had been efiled. (At this point I haven't tried to upload old ATX data files on the old computer to see if it would provide anything. But I'm thinking I need something from NYS's end not my end to make my case.) I appreciate any insights. (I just dread trying to deal with NYS!)

1571942\Admin AuthenticationType: UUMS-MFA-RegisteredDevice Logout

If a church gives an individual over $600 to pay their rent, (the money is given to the individual, not the landlord), does the church need to issue a 1099 to that individual?

I will quote you all season.

hmmmm....big box....how exciting. Oh look - the 2017 deluxe version of "the Tax Book". (got that last year.) And 2018 version of the State Tax Handbook. (Also got that last year.) And the 2019 Master Tax Guide. Well, at least 1 thing I can use. Do they just send a kid into the inventory room and tell them to clean off the shelves?

wow

You have your 20 digit code memorized? Why? Most of us don't and didn't know we had to. Registration codes get filed away with the disk and the purchase docs. Not on my rolodex. The thing is - why is ATX making us jump thru hoops to log into their "help" site.

see my grumble mumble post

I have been dragging my feet to change. But I see more and more people loving drake. What was the learning curve? I have an assistant that does some of my initial input.

I just tried to log into MyATX and was not able to log in. Nothing new - their obsession with password changes usually trips me up. So I tried to click on "forgot my password" and it would not proceed without my registration number. I don't know about the rest of you guys, but I don't happen to have that memorized, nor do I even have it handy. So, I picked up the phone and called the ATX help number on my rolodex (yes - rolodex. still got one.) And - when I put in my customer ID, which certainly hasn't changed - my number is INVALID! and possible reasons are because I have not RENEWED! Unbelievable. Now CCH is going to block me until I pay up for the new year. I can't believe this company sometimes and I cant believe I stick with them......

Certainly no eco friendly! Which leads me to question how many of us still print returns for all of our clients and how many ask if they want a digital copy instead. I think I am pushing the digital!!

I have an older couple that moved to no-wheres-ville western ny in 2017 and sold their former residence in Queens. He has capital gain to report because of the very high sales price. Does he need to file anything in NYC for this? I am not familiar with the city taxes. I would appreciate any insights.

I wish she had been the one to get out and start swearing and yelling.

Can't they have fax in the internet like the rest of us...........IRS BOO.......... And then I forgot to check the box for use of intermediate service provider. BOOO. Monday. I'm going home.

I feel like the IRS is slower than ever getting POA's processed. I fax and mail, but to no avail. (and I rhyme!) I wish we could efile them or at least have some way of knowing that they are received and when processed.

I'd make sure the computer you buy still has a CD reader. There are still a few CD users kicking around, and I have found it was worth having that included as an extra. A lot of the new PCs don't have it and you tend to not think of it. And I agree to get the business windows version too. I've always had luck with Dell

We are slowing getting out of payroll prep for people. We use medlin software for payroll, but we use ATX payroll program to do filing. We also use ATX payroll software to file 1099s. Am wondering what other software people on this forum might be using for 1099s. I wish it was just part of the regular package. We actually end up doing a lot of 1099s for clients, including interest and misc. And some of those 1099s don't get filed until later in the year when I tell them they needed to file one when I finally get their tax info in mid August. I wouldn't change from ATX otherwise, but since we are in the long term dropping payroll services, I wondered if it would be a good time to see what else is out there.

Thank you every one for your help. I have so so many cobwebs from the financial class. I am terrible! And I know I know how to do this. I have been doing mundane tax entry for so long, I haven't had to look at any financial math in years. What discount rate to use keeps coming up.