Lion EA

Got one return transmitted. No acknowledgement yet, though.

The NY credit for taxes paid to other jurisdictions while a NY resident is something like Form 112-R or C. You pay tax where you work, for your friend it'll be CT. Then her PY CT return will be pretty normal. For her PY NY return you'll report income earned while a NY resident and CT taxes paid on that income. You'll get a full credit in NY, because CT's tax rates are lower (not by much since their last tax increase!). If you don't find the form, bump this up so I know to go into a NY resident return and look for the form #.

Well, it's universal for CCH, because I use ProSystem fx and haven't been able to transmit today. Their phone has a message when you call in before any "hold" that says they're having e-file server problems and are working on it as fast as they can. I thought one just might get through right now, but it's stuck at 98% validated. I'm tired and cranky!

I have eFax but have a stand-alone fax machine for the same reason as Margaret. Most of my telecommunications are on Optimum cable, but I have the one plain vanilla land line from AT&T. I already had a fax that continues to work (although, its scanner is acting up for scanning to a flash drive) and use that on the landline. Then, I can plug in an old telephone to that jack during power outages that knock out my cable. And, for those documents not already in my computer, it's often faster to just feed them to the stand-alone fax. Don't know if I'll replace it when it goes, but for now I continue to pay the basic monthly charge to keep it as well as eFax.

I don't bother. The P&L is an annual report. Their Balance Sheet prior year ending balances as I adjusted them are on the tax return's Schedule L, and their prior assets are in their tax return. So, current year balance sheet adjustments and new assets get dealt with at the tax return level. (Very few of my small businesses get their balance sheet correct, and new equipment always seems to land in office supplies no matter how many times I explain it.) I no longer try to force and cajol my clients into correcting their QB file. I use it to prepare their tax return only. If they insist upon doing their own bookkeeping, I'm not going to spend unpaid time on it.

FIle the parents on paper and amend the daughter when you can. Or, tell mom to amend on TT for her error!

If it is the correct situation that the parents claim their daughter, then they paper file their original return. And, the daughter paper files her amended return without her own exemption. Then only one return is claiming the daughter.

You can reinstall your 2009 QB to open it. Or convert it to 2011 and make adjustments manually. If I don't do their bookkeeping, I insist upon a back-up instead of an accountant's copy so I can do whatever I want with my copy to use to prepare their tax returns.

But a distribution before 2012 does speed up the reporting of the conversion. In this case, the 2012 reporting gets moved to 2011 due to the 2011 withdrawal. (If he'd taken out only $20,000, you'd be adding $20,000 to the $60,000 due to be reported in 2011. But this client took out more than was due to be deferred to 2012, moving all reporting to 2011.)

I don't put EINs on Schedule B, just the name of the payor.

Oh, and it's Spring break at many of the towns around here. Lots of sudden calls wanting their returns by the 10th. (You made your airline reservations months ago; couldn't you have mentioned this earlier?) I promised three for the 10th (already have three others promised for Easter delivery!) and then started offering extensions. Turns out many will return late the 15th and just are too busy to come in to sign the 16th or 17th!. I said I'll email signature pages (upload to FileShare, actually) or file extensions; most found time to deal with signatures after their vacations. Still wish I could get a few more to go on extension.

I know. Get off the phone so I can work on your return! I started letting my office phone go to voice mail trying to save time. I listen to messages late at night, too late to telephone back, so email them a short response drawing attention to the time as to why I'm not responding via telephone. But, I need to start listening to the messages earlier. Had a couple that really needed an immediate telephone call to benefit me, more involved by delaying. Gotta screen calls. Or, maybe get hubby to do that...

Can't exclude gain up to amount of depreciation, but you don't have any gain.

A good sign. Enjoy the small steps. Our love and prayers continue.

Had an email today that a corrected 1099 is coming out in a week for one of my clients with hundreds of pages of trades. Thank goodness I talked her into an extension last week. I don't charge for extensions. In fact I offered three clients discounts if they would go on extension to help me out in my time crunch, even though they were next in line. Yeah, giving myself time to prepare returns for less understanding clients. For some unknown reason this year, almost all my clients dropped off in the same week in late February. So they all think I'm taking too long to complete their returns, even though I'm working through them in the order received. And everyone since 15 March was told they'd be on extension. I can do a lot more returns in nine plus months than I can in three plus, and make more money. And, not do the complex returns when I'm sleep-deprived in April. Maybe I won't use 15 March next year, but use the weight of their documents or the thickness of their 1099-Bs as my criteria for who's going on extension! I lost my voice and am on prednisone which sent my glucose levels sky high and the cough wakes me from the little sleep I'm getting; my hubby has pneumonia (he's a church music director so is a little busy right now, too!) This has been a screwy year.

Temporary absence for education. WV resident return. KY income so if no reciprocity, a KY NR return for KY sourced income.

He "paid" tuition via money he pays tax on. Why can't he take an Ed Credit or Deduction? (I agree that his income is taxable, maybe even SE.) Is he a dependent?

Education Credit or Deduction?

Yep, child files a tax return.

Boy, I had one of those today! Thanx for the laugh, and the understanding.

Anyone who called or dropped off or finally brought in missing info from 15 March was told they're on extension. As I mentioned above, I have no voice but a squeak. So, as clients have been calling to check on my progress, depending on their attitude I ask if they'd be willing to go on extension to help me out with a time crunch now that I'm on meds. Some have said no, but some have said yes. I have a few that I want to call this week to try to convince to go on extension. I do offer a discount to those who go on extension for my benefit and not because they're late bringing me their info. Also, if you have any new clients coming in, suggest that you'll have more time after the busy season to review their prior returns, answer their questions, etc., if they go on extension. For investors, blame your time crunch on the new IRS forms and suggest that it's to their advantage to not have a rushed preparer dealing with the new forms.

I'm still up. Finished a new client, family of five (four returns) where dad picked up and paid. A client who dropped off a very long time ago checked in via telephone. She kinda gave me an opening, so I asked her if I could please put her on extension. I lost my voice and sound pretty dreadful on the telephone, so she gave me permission. Another contacted me recently with an IRS letter with a short deadline. She volunteered to call them to request more time and received until 5 May or so. I also got her to volunteer to go on extension. My lost voice is gaining me some sympathy from my female clients. The males are more adamant about filing by 17 April. I have several who need Easter delivery to accommodate family signatures. And some are calling to say they're leaving on vacation. Couldn't they have mentioned that when they dropped off? Gotta get over this sinus infection or whatever this is and get my energy back to get through the next couple of weeks. Good luck to all of us putting in late nights &/or early mornings &/or seven day weeks.

Sunspots.

She has the right to all her original documents back.

When were his debts discharged in bankruptcy? Wasn't the home mortgage discharged at that time, too? Should he be giving the Form 1099-A to the bankruptcy trustee? Did your client get his full story before marrying him? Do you have a good marriage counselor to recommend to them?