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  1. Yes, there are amounts. How do I get the amounts into Worksheet 7 though? In ATX, you can't touch the schedule directly, it all has to flow in from the 4797 and I don't see a place in the 4797 to bring in a carryforward loss that can flow to the 8582 worksheet 7 and then over to the Sch E pg 2. You are amazing and thanks so much for the help. Tom Longview, TX
  2. We saw this addressed in our CA update class, but I did not pay that close of attention because I don't have anyone in that situation. Federal is computed like a contractor. For CA, you make the adjustments on the CA 540CA. Add the whole 1099 amount to wages, subtract the net Sch C income. Adjust the Sch A Itemized deductions (CA allows Unreimbursed employee expenses as a Itemized deduction). Watch for Self Employed Health Insurance - it goes to Medical Expenses in CA. Tom Longview, TX
  3. @Abby NormalThanks for confirming my understanding. The 8582 is attached and there is a schedule attached as well showing the prior year total un-allowed losses. There is no schedule to support the 4797 entries. The 8582 has two K-1s in the section for losses from 2 schedules on page 3, worksheet 7. There is a ratio on worksheet 7, I guess I could use the amount claimed divided by the amount claimed to come up with the amount of the carryforward. Seems sketchy to me to do it that way. @jklcpaThank you for that generous offer, but I don't feel right sending this off without client consent, even blacked out. Thank to all of you for your input. I think I just need to have the client get me a supporting schedule for the "mysterious prior year un-allowed 4797 loss". Tom Longview, TX
  4. I wonder if this would fly? PITA Fee - whatever it takes to make you go somewhere else next year Tom Longview, TX
  5. @jklcpa Would a distribution from the partnership release suspended passive losses? Tom Longview, TX
  6. We used to have our kids do it. Now my spouse does it every year. We go through a shredder about every 2 years. Tom Longview, TX
  7. It looks like a new form I have not seen before, and AZ 140NR-SBI. But I had to override it to take out the client's CA source Sch C business income. I don't think that is how it is supposed to work. But it did get rid of the depreciation issue. Thanks Tom Longview, TX
  8. I was switched over to QBO for my day job, and I don't care for it, but I don't hate it. I have a problem with finding the setup screens that I used in Desktop forever. And I have had a problem with the program changing some of my default accounts leading to some interesting balance sheet reports. It is also slow when run over a VPN. I think I just need to understand the setup better, as we converted from Desktop and the setups all converted for us. I don't know all the places to change things yet. Been about 2 months on QBO. Tom Longview, TX
  9. Taxpayer has a rental property in AZ. All other income is from CA, their resident state. The rental has a 2021 loss of 3K. Depreciation makes up 1K of the loss. In ATX, the AZ 140NR is adding back 1K of depreciation and taxing it to AZ. Depreciation is not allowed in AZ? Even if the depreciation is removed from the calculation, there is still a 2K loss for AZ purposes. Why the tax on the Depreciation? Any help greatly appreciated. Tom Longview, TX
  10. Is there a designated place to put the PPP loan and forgiveness on the Sch C in ATX this year? Or are we not even entering since it is not taxable? Thanks Tom Longview, TX
  11. Just went through a very similar situation for 2019 with a client. He got a CP2000. W2c still not processed by the IRS. We sent the letter with the backup, (W2, W2c) but fear this will drag on for a long time. Who knows when the IRS in Fresno will read the letter. Tom Longview, TX
  12. If your taxpayer is charitable, and uses the standard deduction, have the RMD go to charity as a QCD. Tom Longview, TX
  13. I looked at it a couple times and just couldn't find the value for the money - and the double fee because you had to join your state at the same time (back in the day). I just don't see advocacy, I don't see effective lobbying, and I don't see promotion of the EA license in the public eye from them. Ask yourself how many people on the street know what an EA is. When that number is 25% of the people who know what a CPA is, then I will consider joining. Tom Longview, TX
  14. There is a hold harmless safe harbor. No repayment if under 40K single, 50K HOH, 60K Joint. Above that and you have to repay. That is why kathyc2 put that into her OP. There will be games played to take advantage of this provision this year. Move the kids to the return of the ex, grandparents etc. Tom Longview, TX
  15. Every Client, every invoice, and most importantly, by date. I run a report every year that tells me revenue by date/customer so I refresh my memory on who is coming in at what time of the year and with what issues they normally have. Mid tax season and near the end of tax season, we run a report that tells us who normally comes in by that time of the year and has not so we can call them and see if they are coming back. Tom Longview, TX Tom
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