BulldogTom Posted April 9, 2016 Report Share Posted April 9, 2016 Let's see, your rental house is supposed to disappear from your tax return, with no trace, and magically show up on your adult son's tax return? We told you we can't do that. The email she sent back said the wrong thing "as I said, my son will be claiming the rental house this year on his taxes". My response..."We will not play those games and we will not be preparing your taxes. If your new preparer needs anything, like the basis of the rental home that was on your tax return last year, we would be happy to provide it. Best of luck to you." It makes me feel a little bad that she only has a couple of days to find a new preparer and put her story together in a way that they will buy it. Tom Newark, CA 10 Quote Link to comment Share on other sites More sharing options...
FDNY Posted April 9, 2016 Report Share Posted April 9, 2016 Yeah, fired my first this year too about a week ago. She was trying to talk me into getting fitted for an orange jumpsuit. Now she's begging to come back. I guess she couldn't find anyone to play ball with her. I'll take her back because a longtime client but now she has to play by my rules. An extension is in order so it's going to be a long game, but at least I have a box seat and I get to enjoy the game. 7 Quote Link to comment Share on other sites More sharing options...
rfassett Posted April 9, 2016 Report Share Posted April 9, 2016 But you can do that. A gift tax return and a quit claim deed is all you would need to do. Of course the quit claim deed would preferably be dated January 1 of 2015. I have, however, seen later dates on the quit claim deed and as long as the evidence "proved" the intent, it is usually a no harm no foul sort of thing. In my opinion, the real issue here would be when your client wants to report it again on her return some time in the future. That might get a little dicey in the eyes of the IRS. Either way, I would extend this return and invite the client in for a meeting next month to sort it out. And of course, it would have to be a client I would want to keep in the first place. 3 Quote Link to comment Share on other sites More sharing options...
Richcpaman Posted April 9, 2016 Report Share Posted April 9, 2016 Over the back fence estate planning. Kid gets the house at Mom's original fully depreciated basis.... Stupid. Sell the house to son, take back a mortgage, little tax, substance to the transaction, and Kid gets the stepped up basis to deprec. Out of Mom's estate, No Medicaid issues, and everyone pays about the same amount of tax. But, NO. Lets just move it from one return to another..... SMH. 3 Quote Link to comment Share on other sites More sharing options...
michaelmars Posted April 9, 2016 Report Share Posted April 9, 2016 5 hours ago, FDNY said: Yeah, fired my first this year too about a week ago. She was trying to talk me into getting fitted for an orange jumpsuit. Now she's begging to come back. I guess she couldn't find anyone to play ball with her. I'll take her back because a longtime client but now she has to play by my rules. An extension is in order so it's going to be a long game, but at least I have a box seat and I get to enjoy the game. Get paid up front. she won't pay and now has a whole year to shop around. 3 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 9, 2016 Author Report Share Posted April 9, 2016 My original post was the last of a series of back and forth emails to the client, where we explained to her that she could not move the home off of the return without a disposition of some sort. We explained that it could be a gift with a gift return or a sale, but there needed to be a disposition of some kind. The client tried to do this same thing with another rental 3 years earlier, so there is a pattern. So I get an email this morning that says she "forgot" that the rental was on her return and she is sorry for the mis-understanding. Bovine Excrement! Still not doing the return. I don't have the patience for this crap at this time of the year. I have a full slate of appointments today and I just don't need the aggravation. And it is baseball season and the Giants are 2-0 against the Dodgers. That is more important to me than working with a retired teacher who wants to drag me into her redneck probate schemes so she can continue to get her PTC on her Obamacare plan. Tom Newark, CA 6 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted April 9, 2016 Report Share Posted April 9, 2016 52 minutes ago, BulldogTom said: My original post was the last of a series of back and forth emails to the client, where we explained to her that she could not move the home off of the return without a disposition of some sort. We explained that it could be a gift with a gift return or a sale, but there needed to be a disposition of some kind. The client tried to do this same thing with another rental 3 years earlier, so there is a pattern. So I get an email this morning that says she "forgot" that the rental was on her return and she is sorry for the mis-understanding. Bovine Excrement! Still not doing the return. I don't have the patience for this crap at this time of the year. I have a full slate of appointments today and I just don't need the aggravation. And it is baseball season and the Giants are 2-0 against the Dodgers. That is more important to me than working with a retired teacher who wants to drag me into her redneck probate schemes so she can continue to get her PTC on her Obamacare plan. Tom Newark, CA Male Bovine Scat is the better term. You do not need clients like that. Consider: "What other things is she not telling me..." I have no need for clients of that mindset either. When the IRS changed and started enforcing Circular 230, and now my neck is on the line, those kind can seek a less informed victim to do their unethical transactions. 4 Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 9, 2016 Report Share Posted April 9, 2016 1 hour ago, BulldogTom said: And it is baseball season and the Giants are 2-0 against the Dodgers. That is more important to me than working with a retired teacher who wants to drag me into her redneck probate schemes so she can continue to get her PTC on her Obamacare plan. Does she have a government pension in addition to a rental property and PTC? Seems reasonable. /s 5 Quote Link to comment Share on other sites More sharing options...
BHoffman Posted April 9, 2016 Report Share Posted April 9, 2016 I didn't fire anyone but had the safisfaction today of: Giving a client an earful for calling with questions about how to prepare her quarterly payroll forms that aren't even due until the end of the month. I don't prepare them because it costs too much and they are so easy to do. She did the same thing last year and I yapped at her last year, too. Neighbor who self prepares his tax return wants me to help him figure his way out of paying tax on a 1099C. Hubby had already given me warning. Thank goodness for caller ID. Never picked up the phone. Never will My cousin is a merry globetrotter. She hasn't filed in a few years and IMs me for help yesterday "because all of a sudden it's really bothering me". Honey, wait another week and you won't even think about it again until next April. In the meantime Google foreign income exclusion. Client makes an apt on 4/8. I tell them they will need an extension. They cry bitter tears. I look at their paper work and I see that they will owe a chunk. I tell them this. The guy looks down his nose and tells me they are "proud to pay their fair share" and why don't I just get busy on that tax return because they don't an extension. So, I do and they owe north of $10k. It pleased me to listen to them babbling with shock. I also tacked on $125 PITA fee. Some days are better than others. 10 Quote Link to comment Share on other sites More sharing options...
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