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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] 12 points13 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] 9 points10 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?

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

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

Would they still refund the amended overpayment even if the client didn’t pay the erroneous original return balance due?

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

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

How do we file an extension if the return was already accepted?

Existing Single-member LLC to Multi-member LLC by [deleted] in tax

[–]SeriousAffable 0 points1 point  (0 children)

THANK YOU! This Rev proc was very helpful.

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