Lion EA

A very :bday:

Wow! I'm impressed, Maribeth. B)

And, you do have options for data entry as interview, worksheet, and even on the government forms; and it's just a toggle to go back and forth between views. I spent my first year in interview, thinking it was similar to HRB. But, second year I went cold turkey to worksheet as fitting my style much better. Of course, I toggle to a form once in a while to make sure something landed where I expected. But, my first check is usually the two-year comparison (with sub comparisons with detail for things like Schedule C, E, and F). I love that things with multiple entries, Schedule B as an example, can be viewed as a spreadsheet so I can see what might be missing or what differs from last year or even import/export using Excel and also can be viewed in detail per item that looks like Form 1099-INT in this example. When I've had part-time data entry people, they did better using the IRS form such as Form 1099-INT so they could match it more closely to the client's documents. I toggle to detail if I have to enter something less common, such as opting out of bonus depreciation, but otherwise stay in the spreadsheet view to be able to see all the lines in the depreciation schedule, for instance. It has a lot of flexibility in how you work and in how others can work on your same computer.

I really need to set up my new monitors!

Of course, if you've gone to multiple monitors, you may be able to have all the returns open at once in your home office! Just put a post-it on each monitor with the name of the person, especially now that it's April and we're sleep deprived and lose our place more easily. (I bought two new monitors on sale, but they're still in their boxes waiting for me to find spare time.) It was my first or second year with Prosys fx with just about three days to go before Tax Day, and I had about nine returns left: parents, two sons, and trusts for each son, and a husband/wife partnership, personal return, two more sons, and a 90+ page Form 1099-B. With importing the Excel spreadsheet from the broker and just clicking to export/import K-1s from the trusts and the partnerships and just clicking to complete the kiddie tax forms, it took longer to print the client copies than it did to prepare the returns! I actually woke up my husband to tell him how I was really, really glad I spent the money for top-tier software. (Of course, he was on vacation that week or that wouldn't have been a good move.) Eat your heart out, jasdlm! :P

I remember my days at Block with a couple of families with three children each with investment income. I'd wait until everyone else went home and then complete parents on my computer and child one on another computer and so on and then literally go around in circles entering data from each return into the 8615 on every other return until complete; I think three kids meant three circuits until I had final info on each. Or just print out the relevant pages from the parents' return or complete it and print that final copy. I love how easy it now is on Prosys fx!

And, thanks to Eric and KC and everyone who takes the time to respond. :wub:

Is the 1099 dated 2008 or 2009?

Amen! :huh:

ProSystem fx. It does everything! I just did a partnership, exported the K-1s, opened the joint return which recognized the K-1s, and then imported a spreadsheet from their broker with 700 trades. The best thing is that when I did that all for the first time last year even later in April, a nice person at CCH answered the phone quickly and walked me through it all. I use pay-per-return to keep the cost down. But, customer support is worth every penny I pay!

Well, they're getting married by a JP Friday night 10-01-10 with just family/close friends. Then the "re-enactment" is Saturday the 2nd without all the nervousness, per them. I had wondered about 10-10-10 also, but that doesn't give them a chance to marry the night before so the real wedding date is the one they want. And, they run an inn in the mountains of PA, so 10-10-10 is part of a 3-day holiday in leaf-peeping season. Hey, I'm just happy they're getting married; it could be a Wednesday for all I care!

Don't use ATX any longer, but isn't there a box for FA for foreign address and then you get a pop-up to write in address?

Like an IRA if all 529s closed out, Sch A 2%?

My short term memory is fried, so I missed the OIH. 39 years doesn't seem right for carpet. But, new carpet is not a repair, either. Felt more sure re a rental home; not at all sure for OIH.

How about paying health premiums? Or, was the withdrawal recent enough that he can still set up periodic payments?

My parents were married 10-20-40 and my dad's birthday is the same as Rob's fiancee's, 19 July. Maybe there is something spooky in the numbers! Although, Rob's fiancee's last name is Schwartz, and our daughter's boyfriend's is Swartz; so it's the names, too!

I know. They wouldn't get engaged until they found a date they liked! They'll get married that Friday night but are hosting what they call the re-enactment and photo op on Saturday, followed by a reception and even a brunch Sunday morning (they're out in the boonies, so everyone will be from out of town).

TTB says 5 years for carpeting in a rental. I could see a difference between installed wall-to-wall carpeting and a throw rug. However, I don't have many clients that provide a rug (or anything else that's not nailed down!) in a rental unit. So, when TTB says carpeting, I would take that as wall-to-wall and use 5 years.

In CT, child support is not reportable but spousal support is taxed to the recipient and deductible to the payer per most divorce decrees; at least everyone that I've seen spells it out specifically.

The IRA has unrelated taxable income and foreign income to report on it's return. Have your client contact his plan administrator to make sure a return is being filed, if necessary.

Happy Easter! Well, there are differences in all the education-related things (student loan interest stays with the one liable and who pays), but the short answer is that the education credit follows the dependency exemption. Parents can take an education credit for amounts they pay for tuition for themselves and their dependents. They would have a better paper trail if they paid the college directly, but can you trace it as parents providing funds to student for support which includes college costs? Someone who does more of these will jump in, but wanted to keep your question up top!

Taxpayer Advocate is helpful when things are stalled, you're not hearing back from the right person: 877-777-4778

Investment interest? Otherwise, it's personal interest and not deductible, I think.

NY registration required, but $100 fee required only if you prepared 10 or more NYS returns in 2009 and will prepare at least one personal income tax return in 2010 or you will be paid to prepare 10 or more tax returns for 2010. Must re-register annually. And, if meet the requirements, must pay annually.

That's mortgage interest that's limited to two homes.