BulldogTom

You are awfully indignant for a customer of ATX. You post just confirms what I suspect about you. CCH is planting people on this board to get them to move to the CCH moderated board "where EVERYONE is going to be, and be happy ever after". No disputes, no negative comments about the buttheads who run CCH, no disention at all. Just loving, friendly CCH folks. CCH makes me puke. Their plants on this board are the puke. Tom Lodi, CA

Nice to have a CCH plant on the board. You just joined yesterday and left no info on your profile. You must be a CCH lifer. Tom Lodi, CA

Isn't question #2 a no brainer? How are you going to vote "no" if you have to use this community board to vote no? Ya know what I mean? Tom Lodi, CA

I don't want them to either, I just want them to pay Eric for saving half of their clients, and for doing the job they were supposed to do. They should pay and go away from community boards in my opinion. I was also being a little tongue in cheek. No way those buttheads who run CCH are going to admit they can't run a community and pay someone else to do it. Tom Lodi, CA

Eric, You should ask them to outsource the community to you. They can pay you for the professional job you do administering the "new" "official" ATX web page. They can spike that paypal account for more than a few lunches and not have to worry about their website. Obviously, it would be cheaper for them, and a better product than they can put out. Just a thought. Tom Lodi, CA

On the forms tab, type in "elections" and pull that form into your return. Click on the 1040 tab at the bottom of the form and the first box is the election to forgo the carryback. I just did one 10 minutes ago. Tom Lodi, CA

OnMyFreeTime, You have to excuse our skepticism about you. You have to understand that this board is a result of your bosses boneheaded decision to get rid of the "official" ATX board. We have scrambled to overcome your company's mistakes by working cooperatively to get each other through this tax season after CCH basically abandoned support for us. WE have been working out our problems the best we can, and doing a pretty fair job of it, thank you very much. You showed up today, in April, almost a year after your masters pulled the plug on their board, and just a few days after they put their board back up, and claim to want to help us all out. WE were here when CCH put William Tasker on this board to tell us everything would be great with the new support in GA after they closed Caribou down. That dog and pony show kept a lot of us from demanding our refunds right then and there. William, having been used as a pawn by his CCH masters, was not heard from again. You have not told us your name, or if you are sanctioned to be here by your CCH masters. You say you are a tech. You say you want to help. I ask where the hell you were in January? Sorry if you feel offended, but it seems to me like some CCH plan to infiltrate our community to get more profits. You don't get much respect saying you are a current support tech. We respect the ones who are standing in unemployment lines in Carribou. Tom Lodi, CA

You seem to have the hot assets identified and know that they are going to be ordinary income, so it is hard to understand what the question is. I am a little confused on what you are asking also, because you seem to have everything correct. Are you asking how to make the software produce the correct result that you know it should produce? Tom Lodi, CA

Lets see, he is hiding behind a Dr. Suisse name, doesn't seem to know anything, brags about what he can do but doesn't deliver, and doesn't post on his own company's website.... Yep - must be from CCH. No doubt about it in my mind. Next thing you know, he will try to charge us for using ERC's website. Tom Lodi, CA

<<Unvested Exercises with 83(: On Vest. From 1/1/07 to 12/31/07.>> Don't quote me on this, but it looks like he was going to make the 83( election upon vesting, but he never made the vesting period. So the employer added 1378.47 to his W2 for the difference between the price he paid when excercising (before he vested) and the FMV on the excercise date. Looks like you have the basis correct. So if the sale price is 1195.20, he would have a loss. Just my thoughts, use it at your own risk. Tom Lodi, CA How do I make the faces go away?

Nope, as Jainen said, all that went out the window when THAT GREAT AMERICAN PRESIDENT REAGAN changed the system to class life from useful life. Tom Lodi, CA

How about amending 2005 and 2006 first, then proceed with 2007 without the complications. If it is a hobby, those losses are going bye-bye anyway. Proceed with 2007 as if they don't exist. Tom Lodi, CA

In the title, Janie mentions an 83( election. Doesn't that mean the taxpayer took the income in the year of the vest at FMV on the date of the grant? Wouldn't this be a straight Capital Gains situation with the basis established in 2005? Janie doesn't mention the election in the body of the post, but does in the title. tom Lodi, CA

JB, There is a school of thought that if the previous floor was in such bad shape as to need to be "repaired" in order for the home to remain useful as a rental, then you should expense as a repair. Jainen is going to rake me over the coals for bringing this up, but there is an airline case (I forget the name) where they were allowed to expense the cost of engine overhauls in order to keep the plane flying. It came down to a repair that did not extend the useful life of the plane versus an improvement which did. You may be able to work the repair angle, but it is an aggressive position, and you should have all the facts and circumstances well documented before you go this route. Tom Lodi, CA

Julie, What a great post. Women are always better at expressing their feelings than men. I think your post is exactly saying what I feel (except I have a little anger mixed in too!). You can't beat a California woman. Well done. Tom Lodi, CA

Reprint it. I don't remember. Oh yeah, and someone re-post the Frikkin Bananas one too. That one should be pinned. I will never eat another banana without thinking of that post. Tom Lodi, CA

The CA Board of Equalization is responsible for collecting sales tax in CA. Their web site should have all the county, city, and district sales taxes. www.boe.ca.gov Hope this helps. Tom Lodi, CA

Are you renewing for next year?

Well, if they increase prices to the highest level ever, then give the 10% discount, it would be the biggest discount ever. It is all about perspective. Tom Lodi, CA

Thanks Linda. Tom Lodi, CA

Well, cut and paste it over here. I won't go there, but I would like to know what KC said. Tom Lodi, CA

Eric would have to censor me if I told you how I really feel. My pastor would have an excorcism on me too! CCH is the third most evil company in America in my opinion. Only AT&T and Blue Cross are worse. It makes me feel dirty to know that I have profited them. Tom Lodi, CA

That is why I would not know about it. I have not visited that electronic rag since I had to sign up for bank products on it. I refuse to support their efforts to make me a slave to their electronic home page. I will not buy my research materials from them and I am not going to visit their crappy sanitized discussion board. Tom Lodi, CA

<<should the 1041 be completed as a complex trust and pay the tax on the income or must the trust pass through the income to the beneficiary? >> The Trustee/Executor needs to answer that question for you. It sounds like you have the tax treatment figured out depending on what the true fact pattern is. Don't let the client make you make a decision they need to make. The Trustee/Executor is responsible for acting in the best interest of the beneficiary. Don't get into that part of the discussion. You are asking the right questions, but the answer needs to come from the person responsible for making that decision. Tom Lodi, CA

Ask for a retainer. They will remain "distant" relatives if you do that. Tom Lodi, CA