terishaw1040sf's Posts

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terishaw1040sf's Posts

I understand, but is a single, or several rental units managed by an individual (not their personal residence) or management company, assuming it's competently managed and all necessary 1099s are iss... See more...
I understand, but is a single, or several rental units managed by an individual (not their personal residence) or management company, assuming it's competently managed and all necessary 1099s are issued, automatically considered a trade or business? And thank you for your replies, I really appreciate it.  Every tax season seems like it's the worst but this one is for sure.  
If a client owns and manages a single rental property (condo) and meets the safe harbor requirements, do I simply check that it is a qualified trade or business and ignore the requirement to efile a... See more...
If a client owns and manages a single rental property (condo) and meets the safe harbor requirements, do I simply check that it is a qualified trade or business and ignore the requirement to efile a PDF statement?
If a client owns and manages a single rental property (condo) and meets the safe harbor requirements, do I simply check that it is a qualified trade or business?
The IRS requires a PDF of a signed and dated statement to be attached to an efiled tax return if the client meets the rental real estate safe harbor requirements and wants to claim the QBI deduction.... See more...
The IRS requires a PDF of a signed and dated statement to be attached to an efiled tax return if the client meets the rental real estate safe harbor requirements and wants to claim the QBI deduction.  I am trying to do this correctly this year but am getting conflicting information, i.e., that the IRS has waived the signature requirement and that the statement needs to be detailed to the extent of the name and number of the manager, number of units, etc.   There is a 199a rental real estate safe harbor statement in the 2019 (none in 2018) version of ProSeries that can be efiled with the tax return.  Is it sufficient to print it, have the client sign and date it, scan and create a PDF and attach it to the tax return?  Is it possible to send it with an 8453?  If the IRS has waived the signature requirement, can we just efile the ProSeries statement with the tax return?
Was out of town and ill at end of the year and now I cannot print organizers due to a server error which will not allow me to increase my account balance.  Is anyone else experiencing problems and is... See more...
Was out of town and ill at end of the year and now I cannot print organizers due to a server error which will not allow me to increase my account balance.  Is anyone else experiencing problems and is Intuit aware of the problem?  I was able to print earlier today but have tried repeatedly this evening  with no success and need to get the rest of these out.  
To further clarify, this was not my error.  The client is in the 28% tax bracket and the 2018 worksheet for that tax bracket was not finalized until sometime in May, 2019, well after the tax return wa... See more...
To further clarify, this was not my error.  The client is in the 28% tax bracket and the 2018 worksheet for that tax bracket was not finalized until sometime in May, 2019, well after the tax return was filed.  The client was not accessed penalties, just tax and interest.  People have responded that the IRS is mandated by law to access interest, regardless of the cause and I thank them for their response.  I do not plan on paying the interest for this client nor are they asking me to.  
Client received the letter and the IRS is accessing additional tax of about $3,300.  In addition they are accessing interest of $88.  Client is willing to pay the additional tax but is balking at the... See more...
Client received the letter and the IRS is accessing additional tax of about $3,300.  In addition they are accessing interest of $88.  Client is willing to pay the additional tax but is balking at the interest.  I've never had a situation like this.  Is there any way to abate the interest.  I agree, it's not really fair given that the form was changed after the filing deadline.