ldreyna

tHANKS

Thanks-this is a Roth IRA and the beneficiary received a distribution on 1099R.

A t/p received a 1099-R code T. Said it was because she was the beneficiary. The person who owned the IRA was her half-brother who passed away. T/p didn't even know about it. Amount on line 1, total distribution, taxable amount not calculated. I was thinking that since this was "inherited" that it would be nontaxable. When I fill out the 1099R on the program, the amount distributed shows up on line 15b on the 1040(taxable). Am I wrong in thinking it is non-taxable? I read in "the Taxbook" that inherited Roth IRA is not taxable. Maybe I am understanding something wrong. Can anyone clear me up in this situation? Thanks

Thanks, everyone

After reading a lot to study for the RTPT, I have since had this question about a taxpayer's return. They are unmarried but live together and share the mortgage and property taxes. What % each pays, I dont know yet. 1.Q: Could they file "single." Each filing their own returns. Q: Since both are named on the mortgage and both are named on the property taxes, could any one of them itemize using the whole amount, or are the mortgage and the prop. taxes share equally (each can only deduct 50%). Any suggestions would be appreciated. Looked in pub 555, only talkes about married people, not unmarried. Thanks, Larry

If I,m correct--ATX took out the function to unprotect a foirm.

That worked!! (at least for this one return Ive been trying to work with). I will hope it works for other new returns as I prepare practice returns then get ready for Jan 17!!. Thanks

My question is not about backup vs restore. Has anyone do0ne a backup to flash drive on this 2011TY? Ifr the return successfully backed up to the flash drive, what steps did you do? This is how I tried it: completed a return (2011TY) closed return, on the rtn mamager went to return>backup/restore in the backup box chose destination as F: (where my flash drive is) clicked on start it said backup complete after close closed ATX program when I go to my computer>F: to check and see if it saved, the icon of the return is there but when I click on it to open the file, it opens up the ATX program from 2009, NOT ATX2011ty and the return is not (shouldn't be there anyway) I might have to give up and call customer service. Thanks

yes Ive done the backup/restore to my F: drive (flash drive), and Ive tried to export the return to the F: drive. The backup way saves a file that opens the 2009 TY program, the export way saves a file that opens up the 2010 TY program. Ive done the backup to flash drive for years and never have had problems. What am I doing wrong (or is it the software?) Thanks

when I choose backup/restore from the return menu and I choose to backup to a flash drive, it is saving (something) to an ATX 2010 program instead of an ATX 2011 return. Why cant I save to flash drive? I click on the return icon after it supposedly saved it, and it opens up the 2010 program NOT THE 2011 return. What am I doing wrong? Can anyone help?

I use v. 10, but not on this program. I use it basically for word processing. It will enter your speech where do I have your cursor. You would need to make sure your cursor is in the right spot or field. Larry

Thanks

But, do theyHAVE to file MFJ or in this situation, can they choose from both "singe" and MFJ?

A couple living together in Texas, have mortgage and land under both names, each file single since they are not married. Does this mean that they can choose "single" or "MFJ"? Texas is a community prop. state, so if they are considered as common-law married, do they have to file as "MFJ" or since they are not legally married, can they each file "single"? In my 16yrs of doing i.t. I really never thought about it till now when someone asked. Does anyone have any suggestions? Thanks, Larry

Thanks

I have a couple of situations that I have not had or read about. 1. Tp claims he started an independant contract business in Dec. 2010 as a satellite installer for Direct TV. He is still in training by the co. So he had NO income since hired by co. Yet, he has expenses for the tools he bought. My question is --Is Sch C for this transactions (no income & $1600 expenses) that give him a net loss acceptable? 2. Tp's father lived with him in 2008. Parent died in May 31, 2008. So before parent died he was a dependent from Jan. to May 31, 2008. My question is, would parent qualify for the dependency exemption that year? Tp didn't claim his parent because HRB (his preparer) told him his parent didnt qualify because he lived witb him for 5 months. Tp says (after) that a tax adviser said the parent DID qulify to be a dependent because his death during the year is like parent lived for the whole year with tp. I know this rule applies to newborns, but does it apply in this situation? Any feedback would be appriciated. Thanks, Larry

Thanks for the info!!

This is my first year using fee collect. I have a question that I havent been able to figure out. Doed CCHSFS get their fees from the customer or from the taxpayer? In other words- for example; if I charge my client with $75 preparation fees, when the refund is deposited to their bank account (or MoneyWise debit card) is the $15 fee for CCH added to my prep fees ($75+15=$90) and taken out of the tp refund, OR is the $15 taken out of my fee deposit ($75-15=$60). Hoopefully I can find out before my first fee collect client. If anyone has an answer to this, please let me know how this works. Thanks' Larry :dunno:

I assume you mean phone number. Its 800-638-8291.

Thanks

I'm having a case of "brain freeze" Can the amount of property taxes paid by the bank as part of mortgage payments (on 1098)be used by the taxpayer on schedule L since they do not have enough to itemize? They are married and the mortgage is for their principle residence. Can someone comment on this? I want to say YES since it is their property and they are liable even though the bank pays it as part of their mortgage. Thanks, Larry

Thanks everyone- never thought about the efile situation. Larry

Another situation new to me... T/p got married to a non resident in 2008. Now, she has received a SS card January of 2010 (the non resident is now a citizen). The question is whether they (husband and wife) can do their return using her new ssn even though she didnt have it in 2009? I cannot find any situation that covers this sinario. I believe that since she has a ssn now that she is able to use it on the mfj return for 2009. Somewhere in my brain (whats there anyway) I want to recall reading that she could even go back 3 years and amend returns where no ssn was present, and put the new ssn she got now. Am I correct? My only question is for 2009 return when she received it in 2010. Not concerned about amending. Any comments would be helpful. Thanks again, Larry

Thanks

This may be a dumb question-but tp had worked out of state for only 3 months. The earnings were around 6,000.00. He stayed at a motel . My question is--can he expense the paid rent since he had to rent to work there? Or would the IRS say that he normally he has to sleep, so it is not deductable. Were not talking about a large amount, so would it even matter? He has no other expenses to do this work, would the IRS question his self employment with no expenses? Any input would be helpful. What would you do? I want to deduct 50% of what paid to rent a motel. Is that correct? Thanks, Larry