BulldogTom

I think it makes you look a little suspicious when you reviewed the return, sent him back, and then are sending him again. If it were me, I would be asking YOU why you did not see that PAL carry when you reviewed the return. Just my 2 cents. Tom Lodi, CA

Oh - I hate to do this to my good friend Jainen, but I think you are wrong. Time at school is counted as time in the home. If the age requirement is met along with the other requirements for a student to be claimed as a dependent, I think the parents can still claim that little birdie. Just because she took a summer job at the school does not make her tax home change. She is "in the home" for as long as she is a full time student under the age of 24. Even if you throw out the summer months, she was still in the home for 9 months. But I agree the rent is not deductible. Tom Lodi, CA

Taxpayer had a revokable living trust. At his death, his substantial portfolio of stocks transfered to the now irrevokable trust. The Brokker has sent out this years 1099B with all the basis information going back to the late 1990's. Missing for anything from the early 1990's. Basis should be DOD. Right? So what happens when the IRS gets this 200K of trades with incorrect basis and missing basis and can't match it up? I smell an audit coming. tom Lodi, CA

You are missed a great deal, and my heart aches for you and yours as you care for Don. Do what you need to do, but if you ever need to "feel the love", just come around here and we will provide it. Tom Lodi, CA

If the management company is not incorporated, and the payment is more than $600, I would say yes, you should. However, landlords are not required to send the 1099's since the repeal of the requirement, so I would say it is not required unless the rental activity rises to the level of a business. Yes - I did take both positions. I am going to be a politician when I grow up. Tom Lodi, cA

Client's spouse was a non-resident alien for about 6 months of 2011, at which point she joined her husband in the US. He was working abroad and returned in about April. He is a US citizen, as are both of their children. They have been living in Japan for several years, but returned to the US for the birth of their children. Can I get a quick rundown on how the credits work for part-year non-resident aliens. I always thought that if you were a resident alien for any part of the year, you were deemed to be so for the entire year. But then I read the question on the EIC for about "any part of the year". So, my client has foreign source income that I was going to exclude on the 2555, but he may qualify for EIC if his spouse does not disqualify him based on her immigration status. If she disqualifies him, then we will take the Foreign exclusion. Thanks for any help. Tom Lodi, cA

Found it. You have to adjust the State percentage on the federal form 6252. Tom Lodi, CA

I had a "compliance fee" increase this year too. I bumped my fee by $5 for all the crap we have to go through with the PTIN payments and the registration requirements for my wife. But I still have to pay her based on the new pricing. Dang, HRB out smarted me again. I could have cut her commissions if I added it like they did. tom Lodi, CA

Anyone know how to change the gross profit percentage on this form. It is a new client to me and the sale happened 12 years ago. I just need to change the GP% on the State because it is a little different than the Fed. I cannot for the life of me figure out how to make the change without overriding the calculated field. Please help. Tom Lodi, CA

This is a detail question that does not have a quick answer. You left out a lot of important information. How old is he, is he married, does he have children, what is the status of his other retirement vehicles (if any)? What will the church do for benefits for him. Does he need LTC insurance and when is the best time to buy it. How close is he to retirement (or just ministry - or on the other hand - just the school job). Is 200K the price of his home or the value of his home? How much of the 30K he will get is taxable gain and how much is return of basis? Then there are the non-math issues like how he feels about debt and how his congregation feels about the indebtedness of their minister. I could go on, but I think you get the point. There is no cookie cutter answer to what you are asking. Tom Lodi, CA

Seriously, because I find them to be incompetent and robotic. I spent 45 minutes on the phone this morning with a woman who was very nice, but had no clue why the 1120S and CA 100S were not talking to each other and why the CA 100S cannot be efiled. She was seriously going to have me make a .pdf copy of the CA schedule B and attach it to the e-file rather than try to fix what is wrong with the return. (of course, it did not work, and now I have to wait until Monday for "somebody" to take a look at the return). This woman I talked to today obviously was over her head. I bet she makes about a quarter of what they were paying William, Monkeyman, and all the wonderful people up in Carribuo. Tom Lodi, CA

Finally got through to support. The lady was real nice but can't answer the question. Need to get to someone who knows something on Monday. No answer on this board or the "other" board either. It is a simple return, I have no idea what the problem is. Tom Lodi, CA

What about Maxwell, the animation that did your interview for you? Tom Lodi, CA

Yeah, but CA has been a vampire to taxpayers for years. The IRS could learn a thing or two about intimidation and collections from the FTB I thought those nice cheeseheads would be nicer to their visitors. Tom Lodi, CA

Don't know if this is proper or not, but I found this nice little for called a WI Sch. I. It is for adjusting Federal AGI and Itemized Deductions to WI amounts. And seeing how the instructions say that SS is not taxed, I just adjusted his Federal AGI on that schedule. A funny thing happed, which Jainen will thoroughly enjoy. The taxes did not go down that much, because the denominator of the ratio fell, the ratio increased. So even though I found a (questionable) way to reduce his income, those dirty dogs still got a chunk of his good fortune. Tom Lodi, CA

And the answer is........drum roll.......not included in OR income. Curious, but the State of OR only taxes UI benefits from an OR job. My client never worked for anyone in OR, therefore, not taxable to OR. Hopefully this will help someone else. Tom Lodi, CA

I dumped them about 2 years ago when they would not stand behind their printer cartridges. I bought 6 to get me through the tax season in December. In March, I pulled two in a row out of the box that did not work. Databazzar refused to replace or refund. I told them to stick it where the sun don't shine. Tom Lodi, CA

Client was a CA resident until 2010. PY in CA and PY in OR in 2010. Collected CA unemployment while a resident of OR. Moved back to CA in 2011. PY for CA and PY for OR. Question on the CA UI paid to him while a resident of OR. Is it taxable to OR? Is it OR source income since he was a resident while it was paid? Thanks - and yes Jainen, I will get around to reading the instructions on this one, but I am looking for a little direction. I think it is taxable to the extent that he collected while a resident of OR, but not while he was a resident of CA. Tom Lodi, CA

Sounds like income to the business to me, and the 1099Misc with non-employee comp sounds correct. If you can find a way to get it to Line 21, I would like to hear it. This was and is a business transaction, and his business got the benefit. Someone else can chime in if they think I have this analyzed inproperly. Tom Lodi, CA

I trust all my clients and believe everything they tell me. Tom Lodi, CA

Possibly. Are the fences his? or the local government? Did you capitalize them? Was it mandatory that he take the fences, or did he apply for the grant? It might be subject to SE tax depending on how it went down. Because if he got an asset for his business, the way he would get basis in it would be to take the value into income. Lots of questions, not sure what the answer is. Tom Lodi, CA

Marilyn, I was just reading my post and it does not sound very nice to you. I hope you don't think I am being ungrateful for your opinion. I am just tired and frustrated, and I hate it when the government (any government, and I have the worst one out here in CA) tells you something and then does something else. But I am not going to fight the state of WI over this. I was just hoping I was not seeing the solution to get his taxes reduced a little bit. Thank you for your help. And Jainen, the next time you are coming over to the valley, I will get you another bottle. The cost of shipping is more than the bottle. Tom Lodi, CA

I have a simple 1120S with a CA 100S. Rental Real Estate, so everything is on the 8825. I have one asset that is depreciated differently from the rest, meaning I have a depreciation difference for the CA 100S. The CA sch B is not populating from the federal return, and I had to override every cell to get the numbers correct. Not a lot of assets, but a pain in the asset just the same. And the amount of the difference is not flowing to the front page of the 100S. Override that, and I get a red error that if there is an amount on line 5, there has to be a sch B attached. This is way to simple of a return for the amount of time I am spending on this. Any program help is appreciated. Tom Lodi, CA

Marilyn, if that is the case, then how do I get the SS out of the WI non-resident return? I wish you were right, but when you say that Federal Taxable SS is included in the tax calculation, and then you take a portion of that tax that bears the relationship to WI source income, you are taxing SS benefits. The form does not make an allowance for SS benefits to be removed from the Federal Income before taxes are calculated. How does the book say to take out the social security from the federal agi? I really would like to find a way. Tom Lodi, cA

I think you are correct my friend, there are two standards of taxation in Wisky - one for residents and one for non-residents. I have now read the instructions, and my conclusions were wrong. WI taxes the social security benefits of non-residents. Sucks. But it is what it is. Tom Lodi, CA