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pkellycpa's Posts

Replacement property purchased 10/1/2023. Rental property currently operating. Disposed property sold March 1, 2024 and exchange completed. Who reports the activity of the replacement property Octob... See more...
Replacement property purchased 10/1/2023. Rental property currently operating. Disposed property sold March 1, 2024 and exchange completed. Who reports the activity of the replacement property October to February? 8824 filed 2023 or 2024?
All that payment did was reduce a non deductible loss. Completely different scenario.
When I retire, I am going to tell my landlord that I have been paying too much in rent and claim a capital loss. Same logic.
Sounds like the listed amounts are only estimates used to calculate potential expenses. When someone gives you money to do something it's income.  
The land is still there isn't it? You need a new cost seg that differentiates between land and land improvements. Makes me wonder about the cost seg author.
Not the guy asking the original question, but just filled in a 3520 Income was a beneficial interest in a foreign trust.
Two signatures go one one line. Form M-8453 now shows for one signature. You can't make this stuff up.
If you search for the client status form, you can fund it. I do not see it in the forms listing.
I have been trying to turn it off to no avail and no help from "customer service" I even need it to reply to you.
Spent way too much time with the help babe. Finally concluded that it is not user accessible. No matter how many times I tried to turn it off, and the help personal as well, it would not move. Why ... See more...
Spent way too much time with the help babe. Finally concluded that it is not user accessible. No matter how many times I tried to turn it off, and the help personal as well, it would not move. Why even show a turn off button IF IT DOESN'T TURN IT OFF!
Help babe is telling me that 2 step is required by IRS.  It is recommended, not required. This is really so bogus! Data security is my responsibility, not Sasafras's. What are they going to do abo... See more...
Help babe is telling me that 2 step is required by IRS.  It is recommended, not required. This is really so bogus! Data security is my responsibility, not Sasafras's. What are they going to do about this? Can they just make it once a day? Can they make it optional? 
Is there a setting that can be changed?
Two things: Must I get a phone verification EVERY TIME I START UP A PROGRAM? Do I need to look at that smug babe on startup?
Since those taxes are operating activity, pick the credit up as income on your rental schedule if there are no expense amount to reduce subsequent payment. Either way, current impact.
You should be using the current assessed breakdown to spit the current SALES price. You would need the assed breakdown for the purchase year. Shouldn't you already have the cost breakdown?
Serves me right for thinking it was going to be a 2 minute phone call turned into "May I put you on a brief hold?"  I also had to resolve the reject for filing an extension after the due date for the... See more...
Serves me right for thinking it was going to be a 2 minute phone call turned into "May I put you on a brief hold?"  I also had to resolve the reject for filing an extension after the due date for the other states. Guess Intuit was surprised.  
Spent an hour with customer support April 19, 2022 verifying that the balances due for state and federal returns for a Massachusetts resident would be withdrawn. Did not happen. Who do you think will... See more...
Spent an hour with customer support April 19, 2022 verifying that the balances due for state and federal returns for a Massachusetts resident would be withdrawn. Did not happen. Who do you think will eat the penalties and interest?  
I tried to go to Ultra Tax to get a decent tax package.  Took a change and bought the package even with no demo, but no go. Their input and data entry sucked. Proseries is determined to sell indivi... See more...
I tried to go to Ultra Tax to get a decent tax package.  Took a change and bought the package even with no demo, but no go. Their input and data entry sucked. Proseries is determined to sell individual Turbo Tax programs and does not care a whit about the professional preparers. It's enough to make you weep.