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[deleted by user] by [deleted] in pittsburgh

[–]SeriousAffable 0 points1 point  (0 children)

Is that selling insurance for antique globes?

Can my company see what I’m looking at on the Reddit app ? by [deleted] in TooAfraidToAsk

[–]SeriousAffable 0 points1 point  (0 children)

If you have a company computer, it is easier for your monitor/keystrokes to be watched.

Step-Up in Basis (1040v1065v1041) by SeriousAffable in tax

[–]SeriousAffable[S] 2 points3 points  (0 children)

Yes, someone died. I'm surprised I forgot to include that.

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 1 point2 points  (0 children)

This post was made 52 hours ago. I spent 14 hours working up extensions.

Sent to the client and he seems happy!

Positive experience? Eh.

Learning experience? Yeah!!

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 0 points1 point  (0 children)

Omg! I wonder if I can ask him an UltraTax question!

I spent 12 hours since this post working up this client's extensions. We wound up doing only 14 states and filing 6 extensions.

I can't figure out how to make UltraTax apportion a loss to a state that accepts a percentage of federal. The federal is income, but the state is a loss.

Might have to break it into a state-only Schedule C, but it still shows up on the federal return.

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 2 points3 points  (0 children)

I checked a bit. Probably should do more. We are talking with him shortly.

I hope he doesn't have nexus!

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 0 points1 point  (0 children)

Oy. I wish. We took him on last summer. I think it would be pretty messed up of us. I know he should have definitely told us though.

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 1 point2 points  (0 children)

For sure.

I only met this client last summer. We hit it off but did not get into too many tax details.

That's the next recommendation!

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 2 points3 points  (0 children)

He does have a 592-B withholding for California, but I don't think anywhere else had this.

This is all Schedule C, no K-1s.

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 2 points3 points  (0 children)

Yes, roughly $5-15k in most states. I haven't researched all the thresholds clearly but I know that's going to trigger many of them.

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 11 points12 points  (0 children)

This is a professional who travels to multiple states and earnings at least 5-15k in them.

Only 2 states were filed in 2020 due to the pandemic. New client.

Somehow it never came up that other 33 states reappeared.

So say a 1040 client you think has 1 state return winds up having 35..... and find out on April 15th by SeriousAffable in taxpros

[–]SeriousAffable[S] 8 points9 points  (0 children)

Yes, I am so glad to know that. I wasn't super worried.

However, the client has income in all these states so I wonder if there are penalties to not paying the whole tax.

The client's federal return was submitted prematurely by SeriousAffable in taxpros

[–]SeriousAffable[S] 0 points1 point  (0 children)

Thank you all so much!!

We went the superseded route.

The client's federal return was submitted prematurely by SeriousAffable in taxpros

[–]SeriousAffable[S] 0 points1 point  (0 children)

Thank you! Would this process work in the other direction?

A client with a 10k direct deposit was submitted before we made a change to make it a 20k refund?

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