OldJack

For a 20 page pdf file on the new rates try http://pe.usps.com/RateCase2007/Notice123_PDF/Notice123.pdf

How is TaxAct with regards to estate tax and estate income tax forms? Also, all the IRS business forms such as 1120S, 1065, etc.?

Evidently it was the stronghold cookie as my log-in this time worked just fine. Thanks.

Here is the contents of your www.atxcomunity.com cookie: ---

As far as I know I am only receiving 1 cookie, www.atxcommunity.com. I don't know why your program would need 2 but if you could provide the name of your cookies I could find them and make them trusted so they don't get deleted.

Well... I have the cookie.. it is just not being read by the browser or the website. This time used IE browser and it did not automatically log me in but when I entered my log-in name it automatically entered my password into the field. Go figure.

I took a quick look at their message board and didn't care for the format.

Well... I did a little testing and it appears that it has something to do with the AOL 9.0 browser. If I startup IE 6.0 browser and log-off and back on the cookie works to log me in. If I use AOL browser it will not log-on. It is easy to dismiss the AOL browser and say use IE, but you should know that my AOL browser has never had a cookie log-on problem with any other website and I log into many websites every day. This is a first.

I have the cookie "www.atxcommunity.com" on my computer with all other cookies.. yet I have to log in every time I visit this message board. What's the deal?

You can't just ignore a tax status such as rental property to report on Sch-E, however, if you really want to make it a Sch-C business it is possible by providing significant "services" with the rental activity. That would be services such as trash pickup, maid service, etc. Significant services makes it a business activity taxable on Sch-C. Frankly... I think it is a dumb idea that you would probably have to continue and pay that 15% self-employment tax on the profits. If you suddenly dropped the services and went back to Sch-E shortly after the loan or education you could be accused of fraud or something.

Why would you want to make the rental property income and gain on sale subject to self-employment tax simple to obtain a student loan? The type of entity would make no difference, only making the taxpayer a real estate dealer would put the assets on 1040 Sch-C as a trade or business. There are times when not doing something for a client makes sense.

I agree with taxxcpa. Not having a social security number or even not filing a 1099-Misc does not disallow an actual business expense. We tell a little fib to our clients that "to get a deduction it is necessary to have the social security number" just to get them to comply with the rules and avoid penalties.

Pam... you really need to practice saying "I'm sorry, call me next week".

Finished Friday... but did my own on Saturday. Had to log-in again today.

I have had to log in each time today and that is about 3 times. I don't log off I just leave.

It is probably not really a tax-free grant but payment for historic remodeling which would be other income subject to SE tax since the taxpayer worked the remodel job to earn the credit/payment. I have owner/contractors rehabbing old buildings that get state or federal historic credits that they sell at the bank.

I have the same situation and I know that I have the cookie on my computer.

I downloaded and looked at several... was a little disappointed as the ones I look at did not have a single formula to calculate anything. Not even totals for the columns. :(

One thing ATX is good about is helping with problems like you have... give support a call.

If the lease is nothing more than a way to finance buying the vehicle at the end of the lease (less than FMV option to purchase), then ATX is correct that you treat the vehicle as a purchase and depreciate it under the same MACRS rules as a purchase.

Why not spell check your posts with http://www.ispell.com I have been using it for years. I'm not associated with ieSpell in any way. Here is the home page text for those that don't like following a link to an unknown website:

I agree with KC that this is taxable income even though the taxpayer may not have been able to deduct any prior year fee expense of this nature. The fee expense of prior years is immaterial to this being reported as income in this year.

Agree.. world wide income reportable.

There is a .pdf format "kit" with fill-in forms that you can get from www.ustaxcourt.gov