Lion EA

I had a partnership with that situation back when I worked at HRB, so no access to those returns. With my aging memory, I think I researched the answer to be to use Schedule E as if the expense was still passing though from the 1065. But, I'm already sleep deprived, so don't trust that answer. Just trust that there is a way and keep researching!

And, I still have clients bringing in corrected statements in March and even April. 10 April one year!

And, don't forget that's just the mail date. You still have to wait for it to arrive! Why is it that the clients don't mind that their brokers have an extended deadline, but don't want ME to have an extended deadline. Why do they expect me to do the same work in less than two months that used to have 2 1/2 months to complete?

The new AOC is expanded from the old Hope. But, the old Hope still exists and is increased (doubled?) in midwestern disaster areas; so do check on it if your clients qualify.

Isn't the Hope Credit the one that's most beneficial for disaster area expenses, if student otherwise qualifies?

http://www.sz-jewelry.com/index.htm My favorite jeweler. I have small square diamond earrings for my 50th birthday, and a small round diamond pendant for our tenth anniversary. And, last year I bought myself a diamond bracelet to celebrate paying off my house! He designs and makes for stores, but has his office, workshop, and small showroom, upstairs in an office location above a retail strip; locked as he works alone, so you have to be buzzed in. I tell him how much I want to spend, and he shows me what he has and can make.

I had a client that finally filed his 2007 and 2008 returns in early November 2009. They received their CT refunds 23 November. The IRS misplaced the 2007 return and held up the 2008 refund until 2007 was processed. November was a bad month for the IRS! Do they lay off employees after 15 October until 15 January? I'm glad yours worked out well. My client received his 2007 refund today and was told his 2008 will be mailed this month.

A very :bday:

Match the purchase price on the HUD-1.

I had one of these a very long time ago. I think the rule was that if they still owned the stock, it reduces the cost basis. If they already sold the stock, it's Schedule D proceeds with zero basis. I'd probably do what John suggested.

You're doing the mail sorting for them by using the zip code they request. They save labor costs and you have to take the time to print up an envelope that matches each time.

Didn't HRB buy TaxWorks? Make sure that's the level of service you want.

Is this one of those cases where you want to use your name, self-employed, and SS#, OR company name and FEIN, but not a mix of company with SS# ??

I thought if a retiree did not receive their $250, they had to get it from SS or their retirement agency and NOT from the IRS.

There is also a Trainee visa which allows a person to work in their field in which they are being educated. The intent is for them to develop skills to take back to their county and pass along, either to others or to benefit that industry. So, they don't pay into SS and Med since they are not expected to retire here. Don't ask me what the number is, though! Maybe H1N or something like that instead of students who can work only incidental hours on a J1 (is that the student one?) visa. And, I don't remember how the numbering goes for the spouse (H2?) and children. I haven't had one of these for a very long time.

Mike, what did you find so valuable that you used it all the time? Do you mind sharing? Or, I guess because of your specialty, it might be a rather specialized worksheet, such as dividing clergy deductions between wages and consulting or something peculiar to that calling's taxes. Anyway, you know how nosy all of us are!

Well, he now owns 100% of a house that he can sell or live in or rent or keep to fondly remember granny.... What benefits was he hoping for? Magic carpets?

A very :bday:

I saw IRS clarifications on situations where part of the house was acquired via inheritance, probably on the IRS website or in an NAEA e-newsletter. Haven't had that situation, so can't give you details but know details are out there. You'll really need to research your situation.

You're the best, Eric. If you want to vacation in snowy CT, I have some networking to be done in my home office!

I didn't suggest you not split income; I suggested you find out what your state law says about splitting income after the couple splits. And, I'm pretty sure that you at least have to split income earned during the time they were still together. Don't know how you get that info after the fact if the split was nasty.

A very :bday:

I like reading the discussions, but I like the humor, too. We can't laugh in the face of our client who asks if she can claim her 40 year old son who still lives at home but makes a bundle. But, we can make fun of made-up clients or even real clients that are posted. We gotta see the humor in situations or we won't make it through tax season.

Hey, for those on MY side of the country, the NY/CT ATP has the absolute best dinners: prime rib at the carving table, cheese & crackers before, Caesar salad, veggies, a couple choices of starch, etc. And, Hawaiian night for the July meeting!

Congratulations! Our youngest (the one in the uniform) graduated from UConn on Mothers' Day. Her older brother attended, also. What more could a mother want for Mothers' Day than educated children?! You're on your way now.