artp

Thanks Mike & Ryan. We really need this forum. I will get back with you (to post my comments after the Super Bowl--a guy has to have his priorities straight-tax season or not. Art

Julie, I set up a custom letter that includes the cover letter, engagement letter and privay letter under the Settings>Custom Letter>Other Letters. After I open a return I go to Instruction Letters on the left navigation, check the box for custome letter and go to Other Letters and choose Privacy and Engagement from the pull down list. If you want to save this setup for all future returns hit Crtl D and it should bring this selection up on all future returns. (You do have to check the box for custom letter on each retrun). After you have opened the return in Review mode, all of the forms, schedules and letters should appear in left nagivation. You can then make a manual selecton of the forms to print by placing a check in the box for the forms you want to print. A better way is to select the distribution set from the Settings>Distribution Sets. Most any of the selection options will include all of ther letters so all you need to do is go to the Adv button (Advanced Form Delivery) icon and select the set you want to print. At the same time you can select a set to save to file. Hope this helps. Art

I have used the wagereportingonline software, which I think is what you are refering to. I am disappointed that the documentation is very sketchy and out of date (2009). When I tried to e-file a W-2 the notatiion in red at the top of the form says "this return has been efiled". When I click on the employee tab it shows a status of "e.file locked". What does this mean? Has the W-2 been accepted or what? Again, the user guide is not helpful and there is no support phone number or email. I have contacted TRX support, but they only have 1 individual who apparantly handles all inquiries and he is difficult to contact. If TRX is going to offer this product they need to support it better. Just my experience so far. I would appreciate others feedback/suggestions. Art

Mike, I agree with your comments. I have had similar problems, but as you said they do seem to be making progress. I finally got all of my 1040 files converted. I am told that the business entity conversion package should be ready about 01/05/11 for download. I hope this will go better than the 1040's, luckily I only have about 25 or so. Please do keep the comments coming as we need to share our thoughts on this board. Hopefully, more users will find this board and post their comments. Have a safe New Years ! Art

Ryan, I am still waiting for a response to my question I posted earlier" With respect to items 3 and 4 and the depreciation issue, if we take the time to make all of these manual corrections, will this information rollover correctly from your 2009 program to the 2010 program ? I hate to waste my time during tax season re-keying the same data again. I would appreciate a direct response ASAP. Thanks, Art

Ryan, I have gone back and converted the balance of the returns that I had not previously manually corrected to see if the "fixes" you listed below are working. Here is what I have found so far. Items 1,2,and 6 seem to be fixed for the limited testing I have done. The 1099's still have some missing state codes. Additionally, any 9 digit zip code entry will error out on e-file audit review-dont't know if this is a program error or what. Most state code errors are for DC where the program fails to recognize the state code. With respect to items 3 and 4 and the depreciation issue, if we take the time to make all of these manual corrections, will this information rollover correctly from your 2009 program to the 2010 program ? I hate to waste my time during tax season re-keying the same data again. That is all I have so far. I am very interested to see what other users have to say. Please post your thoughts. Thanks, Art

Can you please clarify. Are the corrections available now ? Is there an update that we need to run? If so, please explain. I have already run the conversion program and made many manual corrections for about 60 clients. Do I need to delete the conversions I have already processed, but not corrected ? I would appreciate a quick reply on this so I know how to proceed. thanks, Art

Mike, I am also disappointed with the converstion. Here is what I have found so far: 1. Almost all returns have an erroneous entry in the foreign address input field. 2. All MFJ returns have box checked for spouse claimed on another return. 3. None of the e-file input forms are correctly populated 4. Direct deposit information is not carried over. 5. All dates for signatures and letters default to current computer date.-no override available. 6. All W-2 input fields for SSN are blank even though the correct entry for T or S has come over. 7. All 1099 forms have missing or incorrect address fields. 8. Virtually none of the depreciation schedules are converting properly. I am forwarding this to TRX, but I based on my previous discussions with their tech support, I am doubtful that much can (or will) be done. Art

I have also being using ATX for many years. I purchased TTO at discount through TRX last year. I contacted TRX to review their own product for comparison and got them to extend the $ 299 special thru 05/31/10. While reviewing their product, I also wanted to get a renewal price for MAX thru ATX since I really did not use the extra features in the TTO product. After 4 phone calls and promises to call me back over a six day period, I finally talked to Troy at ATX. He told me that almost all of the people who purchased TTO thru TRX were "not in their system" and had to be "manually added" in order to get a price quote"-excuse for no one calling be back I guess. Anyway the bottom line was $ 800 total price for MAX which would be good thru 05/31/10. Meanwhile, I have done several returns on TRX 1040 Pro and sat in on a webex for new customers. So far I generally like what I see-yes there is a learning curve, but given a little more time and practice I think the TRX product will work fine. So far the support people have patiently answered my questions and have made suggestions to help with the transition. They assured me they will be able to convert my 2009 ATX files and I should know how that works in a few seeks when hopefully the conversion package will be available. As for now I am stronly leaning toward TRX. I will post more as I work with the software and convert some 2009 files. Meanwhile, I suggest you may want to contact TRX and see if you can get them to extend the time frame for the $ 299 special to 05/31/10. Good luck with whatever you decide.

Mike, Yes, that is still what they are offering. I am evaluating that same package now and I was able to get them to extend the time till 05/31/10. I am going to get a price check with ATX before making by software decision for next year. Art

I have used Viper from SunBelt software for seveal years. Works great and very reasonably priced. Here is the IP address. Check it out. http://www.sunbeltsoftware.com/ Art

Thanks, I did try the ADS tables too. I will check out your link. Appreciate your reply.

OK Jainen, I am glad you got a chuckle out of it.

I would really appreciate your thoughts on this: John & Mary lived together (unmarried) in 2009 in John’s house. They plan on living together in 2010, but not get married in 2010. John was divorced in May 2009. He and his former spouse lived in a home which was titled in his name only for over 5 years when she moved out in 2009. John retained the home after the divorce. Mary was also divorced in Nov 2009. Her former spouse was the sole owner of the home they lived in for 6 years before she moved out in Dec 2008. Only his name appeared on the title, deed, loan, ect. He retained the home after the divorce. If John were to buy a new home in 2010 would he be entitled to the FTHBC ? NO, because he fails the 3 year rule. Agree? But could he qualify for the long-term credit? It appears he meets the 5 out of 8 year test so he should qualify. Agree ? If Mary were to buy a new home in 2010 would she be entitled to the FTHBF? No, because of the imputed ownership with her former spouse. Agree? But could she qualify for the long-term credit ? Even though she was not on the title, deed or loan documents she would still be considered an “owner” for purposes of the 5 out 8 year test. Agree ?

OK ..but what does that mean? All I see in MACRS, ADS, ect

Pleading confused. Does anyone know what ALT depreciation method is? Prior accountant tax depreciation scheduled showed a 2007 SUV with a purchase price of $31,912 and 2008 bus use 49.84% business use %, no special allowance or Sec 179 taken in prior year, 5.0 YR life HY convention and A/D of $ 3879 and 2008 depreciation of $ 2672. I cannot work back to those figures. Client cannot find 2007 return or depreciation schedule and prior accountant went out of business. Can you give me a hand on this? Thanks

I signed up today as well. Got them to extend the date till May 31st to give my more time to review the software. If I am not satisfied I can get a full refund.

Please disregard the above post. Found answer in Pub 225

Looking at the rules under Sec 179 "single purpose agricultural or horticultural structures and storage facilites"-- grain bins seems to fit. Correct ?

Yes, that is what I was trying to convey in my original post.

Her will provided that her interest went to the children upon her death. Or is there somethng I am missing in your response?

Thanks for your replies. In the heat of tax season the brain cells sometimes get overloaded and I need some feedback from the people on this board.

I guess I did not clearly state the facts. I am talking about the 50% interest that W had in her name when H died in 1982. That 50% went to the children from W at her death in 2000. That is where the 2nd step-up issue came from.

OldJack, Just want to clarify my understanding of your response. Are you saying there is no separate step-up for the portion of the property that passed from W to the children when she passed away in 2000?

H & W owned several farm parcels In IL (not a community property state) which were inherited by their 3 children. H died in 1982. W died in 2000. In 1982 per H’s will 50% interest in parcel A was transferred to his son, the other 50% went into a trust with an income only benefit to W for her life and remainder interest to each of the children as 1/3 undivided interest in the land. Trust held title to the land until W died and the children inherited. While the parcel was in the trust the children could not sell, convey, encumber or do anything with the land until M passed. Question 1. At what time does the step-up in basis occur? In 1982 when title passed to the trust or 2000 when effective ownership was passed to the children? Also in 1982 per H’s will 50% interest in parcel B went directly to W with the other 50% going into the same trust as above with the same provisions. On W’s death in 2000 her 50% went to the children. Question2. At what time does the step-up in basis occur for parcel B? For the 50% interest that went into the trust-1982 or 2000? For the 50% interest that went to W and then to the children 2000 ? My take for question 1 is that the step-up occurred in 1982 since title transferred at that time from H to the trust. A step-up happens at the decedent’s date of death even though the children do not have effective control of the property until W passes. Same answer for question 2 for the 50% that went into the trust. The other 50% that was inherited from W would get a step-up in 2000. The two daughters sold their interest in both parcels to their brother in 2009. So it would appear that they would have the following: For parcel A basis from 1982 for their share of the 50% from via the trust For parcel B basis from 1982 for their share of the 50% interest via the trust; from 2000 for their share of the 50% interest from W Do you agree? Anything that I am missing here?