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amdx[_3_]

On 6/19/2017 9:02 PM, wrote:
On Mon, 19 Jun 2017 21:32:01 -0400, Wayne.B
wrote:

There may be things like depreciation, interest expenses and/or
depletion allowances hidden in the K1 that you can deduct against
ordinary income. That said, I am not a tax expert.

That is what I am saying, There are no big numbers on the K1. It is 5
bucks here and 10 bucks there. The last time I filled out all 10
forms, it ended up being a few bucks a form. I just take the
distributions as ordinary income and let Sam have the 20 bucks.
... but I may be wrong ;-)

I have a friend that has done the paperwork for K1 forms.
He will no long invest in anything that requires a K1 form.
Mikek

Mr. Luddite

On 6/21/2017 5:52 PM, amdx wrote:
On 6/19/2017 10:01 PM, wrote:
On Mon, 19 Jun 2017 21:56:44 -0400, "Mr. Luddite"
wrote:

Did the letter ask for your bank routing number and your account number
and was the postmark from Nigeria? :-)

That was my first thought but they did not ask me for anything.

I did look at that return and it was a cluster****.
I screwed up the first swing at it. I filed an amended return and they
came up with another number I could agree with so I called it a day.
None of them match this number and the discrepancies were just a few
hundred bucks one way and the other. I am really starting to wonder if
I never got that check (those numbers are close) but I think I would
have remembered it not coming since that is our air fare and rentacar
on vacation. I am thinking about stopping by the bank and seeing if
they can pull up my DDA but I am not sure when the EFT would have
come.
I am just going to sit tight and see if they pay me. If it is a check
they never sent me it is found money and if they just screwed up I
will pay them back if they find it.

I'm in limbo, my accountant eFiled my return, it was rejected. Reason,
I claimed my working child, and the IRS says he also claimed himself.
He didn't,
I helped him with his taxes and made sure he didn't. I have his return,
he didn't claim himself, my accountant has his return, he also says he
didn't claim himself.
The additional paperwork is in process.
Mikek
BTW, on a 1040, you check a box if you are claiming as a dependent,
on a 1040EZ, you check a box if you are NOT claiming as a dependent.

The IRS probably knows you voted for Trump. :-)

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amdx[_3_]

On 6/21/2017 4:56 PM, Mr. Luddite wrote:
On 6/21/2017 5:52 PM, amdx wrote:
On 6/19/2017 10:01 PM, wrote:
On Mon, 19 Jun 2017 21:56:44 -0400, "Mr. Luddite"
wrote:

Did the letter ask for your bank routing number and your account number
and was the postmark from Nigeria? :-)

That was my first thought but they did not ask me for anything.

I did look at that return and it was a cluster****.
I screwed up the first swing at it. I filed an amended return and they
came up with another number I could agree with so I called it a day.
None of them match this number and the discrepancies were just a few
hundred bucks one way and the other. I am really starting to wonder if
I never got that check (those numbers are close) but I think I would
have remembered it not coming since that is our air fare and rentacar
on vacation. I am thinking about stopping by the bank and seeing if
they can pull up my DDA but I am not sure when the EFT would have
come.
I am just going to sit tight and see if they pay me. If it is a check
they never sent me it is found money and if they just screwed up I
will pay them back if they find it.

I'm in limbo, my accountant eFiled my return, it was rejected.
Reason, I claimed my working child, and the IRS says he also claimed
himself.
He didn't,
I helped him with his taxes and made sure he didn't. I have his
return, he didn't claim himself, my accountant has his return, he also
says he
didn't claim himself.
The additional paperwork is in process.
Mikek
BTW, on a 1040, you check a box if you are claiming as a dependent,
on a 1040EZ, you check a box if you are NOT claiming as a dependent.

The IRS probably knows you voted for Trump. :-)

LOL
My accountant said an ex IRS official over the Atlanta office told him
that her office had a 25% keystroke error.
Mikek

Poco Deplorevole

On Wed, 21 Jun 2017 16:54:24 -0500, amdx wrote:

On 6/19/2017 9:02 PM, wrote:
On Mon, 19 Jun 2017 21:32:01 -0400, Wayne.B
wrote:

There may be things like depreciation, interest expenses and/or
depletion allowances hidden in the K1 that you can deduct against
ordinary income. That said, I am not a tax expert.

That is what I am saying, There are no big numbers on the K1. It is 5
bucks here and 10 bucks there. The last time I filled out all 10
forms, it ended up being a few bucks a form. I just take the
distributions as ordinary income and let Sam have the 20 bucks.
... but I may be wrong ;-)

I have a friend that has done the paperwork for K1 forms.
He will no long invest in anything that requires a K1 form.
Mikek

Ditto.

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