Lion EA

Just finished one where she stapled all paper work to the envelope in which it came. Can't imagine why. She didn't do that before. And, been getting a lot of plastic sleeves, the kind you'd use to protect a page, with holes to put in a notebook; but they're using the sleeve like a folder to hold all their tax documents. Seems to be a new technique this year and used by several clients.

I don't use ATX. My software chooses the best for each situation, or I can force. For instance, here in pricey CT most of my clients do better itemizing for federal, but the NY commuters often do better with NY's standard deduction. So, my software does the math and files Schedule A with the federal return and takes the standard deduction on the NY. I just glance over the returns and e-file.

Yes, you are looking at it wrong. If she had any capital gains, you would net ALL of her carryover against her gains up to the amount of her gain. Then if she still had excess carryover, you would use up to $3,000 against her other types of income. In your case, you are netting her carryover against her capital gains, but that is $0. Then you use up to $3,000 against other types of income, showing ($3,000) on her return. You cannot use MORE THAN $3,000 against other types of income.

Start on the Charities & Non-Profits tab on IRS.gov. Also, some states have a separate entity for charities & non-profits, so do look on the state's web site, too. (CT does not, think TX does.)

Just check the box for the federal. All the dissolution stuff takes place at the state(s) level.

Fairfield County, CT, my last fill-up was nearing $4 for the cheap stuff, but credit. But, I walk down the hall to my home office also, so my last fill-up was a long time ago. I've seen signs for over $4 lately. Daughter-in-law bought a used Prius to balance out the carbon footprint with my son's used Ford F-150 pick-up truck.

Ask to see his last paystub. Maybe it has a more understandable explanation. It also could allow you to compute whether pre-tax or after-tax.

I have e-filed with an installment plan included.

Maybe your printer is no longer directed to "print in the background." So other operations stop when you're printing. Or, does keyboard entry still work, just not the mouse?

I'm sorry, Linda; we all "knew" and loved Linda and Buddy. And, Jainen, sorry about Sparky.

If he still owns the 1/32nd working interest, then he doesn't have a realized loss.

It's never too early for vodka (that's Russian for "little water"). I'll have mine with tonic to alleviate my leg cramps. Purely medicinal.

Have your client ask his brother what to use for depreciation?!

Hey, NE, all our prayers are with you and your family. His willingness to work hard will show through. Keep us posted.

Totally opposite: hubby's having shoulder surgery! (Other one in the fall.)

Employer provides clothing with company name on it to his employees, requiring them to wear the sanctioned uniforms, required by franchisor to have his employees wear those uniforms, I'd deduct it as uniforms.

If you client owns pets of his own, he certainly cannot consider shared items such as toys, food dish, etc. Have him bring in his contract.

Thank you very much. I have lots of state resources, and they do help with the state returns. But, issues with how state items can or cannot be reported on the federal return are seldom covered in those references. That's one of the many reasons that the personal experiences shared on this board are so helpful.

I have her detail now: Prior O.T. 73.16 Own Tax 386.71 Lic. Fee 78.36 Road Fee 23.00 Bridge Fee 9.00 Can I take the 386.74 on Sch A? Any of the others?

Thanx.

One of my CT clients moved to CO during 2010, so a PY CO return. One question I have: She paid $538.23 for what she labeled CO car registration & tax (combined) and $22 for CO driver's license. Is any part of the $538.23 a property tax and deductible on her federal 1040 Schedule A? She expects to stay retired and have no earned income in CO, so moving expenses won't be deductible. Any CO tips are appreciated, as I haven't done a CO return in years and years.

Thank you, John. I have been working toward your method. This season I'm closer. I just gave one reluctant extender (the biz line sale) my reasoning for needing research time after the rush of tax season to work with her husband and how he treated the purchase and intervening use of that biz asset over the years (15% capital gain vs. 35% ordinary income). Was aiming for Sunday for extensions that I can file via my software &/or calculations re payments by 18 April, and hope to be close to that. Have a part-time assistant who'll come in next week to file some states that need to be done individually on the states' web sites. Leaning toward separate extension $ amounts and 1Q ES $ amounts to pay by 15 April. After all, have state ES anyway, so may as well have federal ES as well as the extension payment. Email clients the vouchers and extensions and have them mail in with checks? Thanx for everyone's thoughts. Really helps this sole proprietor.

In a couple of the cases, it is all my fault. With a death in the family, and waiting the entire month of March for Dell to repair my computer, I'm behind and putting clients on extension that would prefer not to be, who have brought me their materials. Now, that includes the partnership that sold a business line and is expecting capital gain treatment now when he treated it as inventory in prior years, so I have some research to do; and the clients missing items. But, I have some unhappy campers as it is. So, I don't want their P&I any higher than it has to be. What do all of you do? Print both ES vouchers and extensions and compute amounts for your clients to pay? Or, pump of the extension amount to cover ES too?

The broker does the recharacterization. You'll report it based on the documents issued for the year it is done.

Depletion always has me looking it up, and my energy K-1s haven't come in yet. But, I do know that DPGR is limited by W-2 wages, which in your case are 0 so no DPGR. Use the numbers from the K-1; don't override.