Booger

Thanks for your response, KC. I've seen the cabins, and they are top of the line (full kitchens, jacuzzis, washer/dryers). Client wants to barter my fee with a free 1 week stay for my wife and me. May just take him up on it.

Client builds cabins and rents them out (SHORT TERM) to the public. He actually bought around 300 acres and is building the cabins on this site. He formed a LLC with his son. His first year of operations is 2008. Do I use the 39 year commercial property life or do I use the 27.5 year residential rental life for the cabins? As far as the actual business activity is concerned, we will be filing a 1065. Since this is a business, I'm planning on reporting the rental income and related expenses on Page 1 of the 1065, instead of reporting the income and expenses on Form 8825. Client has employees at the site working in the rental office and also maintenance people on the payroll. Should the income/expense activity be reported directly on Form 1065, or does Form 8825 have to be used? Thanks in advance for your input.

Thanks, KC....now it makes sense. Enlightened Booger

After reading all of the posts under the TRX portion of the forum, I still don't understand HOW TRX can sell the same software for hundreds less? Would someone please explain? Perplexed Booger

You have my thanks as well for your contributions to this board. Grateful Booger

Thanks, Lion. Knew that you used ProSeries FX (based upon your posts during tax season). Was hoping you'd chime in.....THANKS! Booger

Thanks for your input. Will request the demo program and play around with it. P.S. Catherine, I won't be leaving this forum. (How could I LEAVE you????)

You're RIGHT, Zeke. What was I thinking????

I'm thinking about "upgrading" from ATX to Pro-series. I do about 400 returns/year (75% individuals, 25% businesses). I would like to hear your opinions about spending the extra $$....are the "bells and whistles" of Pro-series really worth it?

I would like to add my "2 cents" also. Thanks to everyone that contributes to this board. It's been a big help during this tax season. Grateful Booger

Catherine, my love for you will not diminish just because tax season is nearly over. I will probably have some questions to post on this board regarding the extensions I'm responsible for. Tired (but STILL amorous) Booger

It's an extension of time to FILE, not an extension of time to PAY.

When I was single, I dated a woman named Sasha.....NICE LEGS. Nostalgic Booger

Depending on the amount owed by the client, I make sure that I get my fee FIRST. Seriously, it's been my experience that most people are aware of what they are going to owe. I just tell them "it is what it is".

Other than making sure my DCN beginning number is set to a higher number than the other PC, is there anything else that I need to do in order to E-File returns from the second PC? They are not networked.

Client finally got back to me re the timeshare issue. Claims that his initial loan was "about $13,000". Only made a couple of payments on it before he walked away. The $11,800 looks right as far as the amount of debt forgiven.

You're so right about shooting...you compete against yourself and (hopefully) just get better. My wife got me into it initially; maybe someday I'll be as good as her. Where we live we have enough acreage to target practice there.

Catherine, what kind/type of rifle is that? I tend to stick with .22's; also have tried Skeet Shooting. Remember when I first tried Skeet....my right shoulder was sore for about a week!

Not really. What I do is a spreadsheet (EXCEL) that I give to my clients each year.

Never mind....since all funds distributed were used to pay college expenses, then the earnings are non-taxable. Sorry for the stupid question.

Client received a 1099-Q with $124.68 in the earnings box. All of the funds were used to pay higher education expenses. Does the $124.68 get reported on Line 21 of the 1040 as "Other Income"?

Haven't talked yet to this client.....what does "bump" mean???

OK, zeke, 2007 deduction. Will use the 2008 sales price as FMV. Sorry for making a simple issue complicated.

Lion, I believe that in the scenario that I described above it is a 2008 deduction, since the value of the auto wasn't established until sold by Goodwill. Anybody else want to add their opinion?

When you donate a vehicle, does title transfer on the date donated, or when the vehicle gets sold by Goodwill?