So not considered "postponed"? Won't affect future sale of home where postponed previous gain reduces the basis of home sold? Second home sold doesn't qualify for exclusion because they missed the 5 ...
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So not considered "postponed"? Won't affect future sale of home where postponed previous gain reduces the basis of home sold? Second home sold doesn't qualify for exclusion because they missed the 5 year mark by 34 days. They had a previous exclusion of gain on home.a few years ago.
My clients received letters they were issued $1400 each (joint return) - however they did not get the $$. Put 0 in the worksheet for the $2800 and worksheet shows they get a credit of only $700 on t...
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My clients received letters they were issued $1400 each (joint return) - however they did not get the $$. Put 0 in the worksheet for the $2800 and worksheet shows they get a credit of only $700 on the return. 2020 gross income was under 150,000 but 2021 income 157,000. Is the worksheet using the 2021 income to figure the credit? Seems they should be getting the full $2800 credit. What's up??
How will a client know about the social security deferral that will be due in 2 installments - nothing in the client letter informs them. Can't see any edit that adds that information.
Clergy client has W-2 form all of which is designated housing allowance. Recorded that on W-2 worksheet but it's not adjusted out of total W-2 wages. Amount was listed as wages on W-2 with FICA & M/C...
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Clergy client has W-2 form all of which is designated housing allowance. Recorded that on W-2 worksheet but it's not adjusted out of total W-2 wages. Amount was listed as wages on W-2 with FICA & M/C withheld and housing allowance listed on Part II Line D & E. Still shows as taxable wages on the #1040.
Having the exact same issue. Today is February 1st - I'd think it could be transmitted. Tried a dozen times and same thing happens. "Ready to transmit" - doesn't transmit and get last year's informat...
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Having the exact same issue. Today is February 1st - I'd think it could be transmitted. Tried a dozen times and same thing happens. "Ready to transmit" - doesn't transmit and get last year's information. Ugh!
I have added a line in the cover letter for the organizer but few of my clients use the organizer so I guess I'll be stuck making inquiries. Grrrr - what a pain!