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  1. I poseted this a few days ago, but I could not find it back so pardon me if you have replied and I missed this. 1. Are attorney fees paid by an estate fully deductible on the 1041 line 14? Estate consisted mostly of farm property in which the decedent had a partial ownership. Farm was actively operated on crop share basis, but decedent was not active in the business. The other assets consisted of small bank account and some savings. Ownership of the assets were transferred to children from the estate. From reading past posts there seems to be a disagreement on deductibility of legal fees. Deductibility allowed for preservation of income producing property vs transfer of title/ownership of personal assets. Is this the proper framework for determining deductibility? In this case fully deductible? 2. Second issue is deductibility of appraisal fees, title work and transfer on death fees. Deductible, subject to 2% of income? Fully deductible? Non-deductible? This issue is always troublesome. I would appreciate response from those with experience on these issues.
  2. State issued 1099G in 2009 for 2008 refund for decedent's final 2008 1040 (taxpayer died 10/15/08). Estate 1041 is on extension. Taxpayer itemized on final 1040 and received a tax benefit for the full amount of the state income tax. Normal rule for individual 1040 would be that the state refund is taxable on the 1040 for the following year (TTB 21-10 says "gross income for an estate or trust is determined in the same manner as gross income for an individual". So I assume the refund is taxable on the estate's 1041 ? Any 1041 prepares have other thoughts?
  3. Art

    SE Taxable ?

    To clarify in 2009 the director fees were reported in box 7; the insurance premiums in box 6. For 2010 there will be no directors fees, just the insurance premiums which will be show in box 6.
  4. Art

    SE Taxable ?

    A director who retired in May 2009 continues to have a portion of his medical insurance premiums paid by the cooperative. In 2009 he receives $ 750 in director fess. The coop pays his medical insurance premiums and he reimburses them for his 25% portion (same as in prior years). In prior years he paid SE tax on the director's fess and the unreimbursed portion of his medical insurance premiums. Now that he is retired and no longer provides any services to the coop is his unreimbursed medical insurance premiums paid after May 2009 still subject to SE tax for 2009? What about 2010?
  5. Thanks for the quick reply. I may try your suggestion, since I have just one to send for this client.
  6. Soory, to post this, but I can not remember. I need to file 1099-MISC Copy A and 1096 paper copies. Do both of these still need to be printed on "red" copy or can we now send in the copies printed off of our software? Thanks, Art
  7. Yes, I did unfortunately. I have since got the program to recognize the folder where my 2008 returns reside. The only problem was that the program did not update the forms so I had to go back and update all of the forms manually.
  8. I did NOT install ATX on a net work drive. The original installation from the CD went to the default directory on the C drive. When I got the Archive CD the instructions said to install the archive CD and then keep it with my original install disk,ect. When I installed the archive CD it asked for the install codes and proceeded to install to the default directory on the C drive. I am not follwing your instructions below. Can you please contact me directly at apontow@gmail.com. thank you
  9. I received & installed the 2008 Archive release. I then went back to open the program and none of my returns came up. I followed the instructions to restore my files the start menu. The restore function seemed to work fine, but the files still are not there. Any ideas what to do?
  10. Curious, which version of GruntWorx did you choose? When I looked on line it seemed that the $20/return option was rather expensive, but the only option that would be effective if you wanted to automatically populate your tax software. I take it that you are using ATX and it works for you? Did you find the time you saved was worth the cost? As an alternative for just having the ablility to rename the image documents, I understand that the Acrobat Standard or perhaps Pro would do the job. Prices seem to vary all over the place. Has anyone found Acrobat a good alternative?
  11. I guess I was not clear when I posted by queston. I can change the NAME of the pdf file. That is not the problem. I want to change the identification of the individual documents. Adobe just uses a numerical sequence such as 0000001, 0000002, ect. I want to name the individual document images so that when I look a the bookmarks I can easily indenity the document such as W-2, 1099,ect.
  12. I am new to scanning as I just purchased a Kodak i1120. I am saving the documents as pdf using Adobe Acrobat 7.0. I set up separate folders for each tax client. My problem is that the images are only identified by a number such as 0000001, ect. I would like to give each image a descriptive name (W-2, 1099,ect) so that when using the bookmark view I could easily identify and find the particular document I am looking for. Any suggestions how to do this? Is there a better alternative? Suggestions for experienced users is appreciated.
  13. Thanks for all the input. I have always had good luck with HP printers so I was leaning that way for my scanner. The 8250 is meant for heavy office use as I understand it, but I do not have any experience with scanners execpt for the flat bed scan feature on my Epson Stylus RX620. It scans OK, but is single sheet only so will not be useful for large volume scanning. I have had a multifuction Brother machine in the past, but was not pleased with it at all, so I have reservations going that route for a scanner. May need to rethink that in light of the good comments posted here. Also the Fujitsu may be worth looking into. And maybe the Kodak as well. While I am at it, a general thanks to all of you who posted replies to my inquiries this year. This is a truly great source of shared knowledge and professional assistance to me.
  14. I realize that everyone is really pushing for time...but could you give me quick feedback. I just found a new HP 8250 scanner that I can pick up for <$300.00 if I move quickly. I am wanting to scan all my client docs and avoid copying cost for future. Small practice (150 returns) + small business write up & payroll. Wanted to get automatic document feed. Does this sound like a good deal? Do not want to buy more scanner than I need, but the newer HP, Epson, ect that I have looked at all seem to be close to this price. Any suggestions? Thanks.
  15. I was contacted by TRX and was quoted the same prices ($ 299 and $ 699). They claim that the $ 699 package is the same as ATX total office so it includes the MAX program plus accounting/client write-up, payroll, W-2/1099 payroll compliance, fixed asset manager and Scan & fill with Document Mangaer - all for $ 699 + $ 29.95 shipping. IF this is all true and the programs are exactly the same as what we are getting now from ATX directly, it sounds like a great deal. Support would be through TRX, but that may not be bad since ATX support is spotty at best. I would like get input from other ATX users and TRX users who purchased the ATX software from TRX. I am very seriously considering the scan & fill with document manager to eliminate copying client documents and putting everything in pdf. For those who have gone that route what scanner do you recommend? I assume it would be sheet fed for speed, but do you also need a flat bed feature for odd size documents? Any brands that you especially like? Price range? I know everyone is pushing hard to get finished with the season, but when you have opportunity, please post. Thanks!! Only about 20 returns to go and I (think) I will be done!
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