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ILLMAS

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About ILLMAS

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    ATX Supreme Guru

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  • State
    IL

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  1. I remember in prior years there was a notes tab on top, I cannot seem to find it for 2018, anyone? Thanks
  2. Wow, I always thought my brother-in-law was weird for saving his first payroll check, keeping the cup of my nephew first sip of starbucks coffee and having to buy a shipping container to store all the junks he holds on to
  3. Thanks, I am looking into this, TP is not too happy with the financial advisor at the moment.
  4. ILLMAS

    Online Fax

    Myfax $10 a month: https://www.myfax.com/pricing FYI: Just once an IRS agent refused to send me TP transcripts because electronic faxes are not secured lines.
  5. I am using ATX, I will look for that worksheet, thanks.
  6. TP received two 1099R's: Box 1: 10,000 Box 2a: 1,100 Box 2b: Total distribution Box 5: 8,900 Box 7: 7D I see box 5 is the difference between 1 & 2a, however the second 1099R looks like this: Box 1: 25,000 Box 2a: blank Box 2b: Taxable amount not determined Box 5: 22,411 Box 7: 6 Right now, ATX is taxing the $8,900 and the full $25,000, however out of the $25K, TP kept $2,589 and the rest was put into a long-term care insurance + the $8,900 totaling $31,311. Since I can back track what should be taxable for the second 1099R, would I be okay putting the $2,589 on box 2a?
  7. Just out curiosity, does it flow automatically to 199a worksheet? If not, how does one populate it to the worksheet?
  8. I just order it for my clients that want it because they know they are going to need it, others don’t want to pay the $1XX + whatever the attorney will charge. I don’t prepare it.
  9. ILLMAS

    1040 Trustee

    There was a will left, TP is the executor and beneficiary to my knowledge, there will be no probate court because no one is contesting the will or is probate court mandatory?
  10. ILLMAS

    1040 Trustee

    Is there a special form required to be submitted with a 1040 for a trustee that will be signing for the deceased TP? Our state requires one, but I am not sure if the federal requires one. Thanks
  11. I will be working on a 1120S later today or tomorrow, but I went ahead and took a look at the calculate basis box, but I don't see it, neither on the basis worksheet. Unless it's the box labeled "Check if special ordering election made", but if I check it, nothing populates. Thanks
  12. No, it was always the intention for the business to do well and recooperate the loans after profits, there are some assets but the potential buyer is interest in the shop for its location and existing customers.
  13. Its always failing to pay employment taxes, its hardly ever failing to treat employees as subcontractors.
  14. The question is more on their 7% withholding tax for service.
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