Jo Firey wrote:
- quote -

AS an adjunct to this thread, one of my clients who has
these 63 page Merrill Lynch statements each year, pointed
out the "investment fees" M/L charge for the account.
Sizeable. schedule a deduction of course. What about
previous years' fees? So he looks in last year's and
doesn't see it. Call s Merrill Lynch and they give him the
amount verbally. 6000 or so, sizeable deduction at 27% tax
rate. tax years 2000 and 2001? His request to Merrill
Lynch is just one of more than 100 they're working on.
Sounds like more than just my one client is affected. (They
weren't on the yearly statements btw.)

Cheer$$,
Harlan Lunsford, EA n LA

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"Harlan Lunsford" <lunstax[at]bellsouth.net> wrote:
- quote -

Thanks

Maybe this is the year the IRS will figure out why they keep
getting those huge envelopes on otherwise quite simple
returns.

Jo

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- quote -

The consensus seems to be that this is a question that the
IRS will not officially answer in any definitive manner.
Anecdotal evidence suggests that anything from pure paper to
"details in file" will work.

--
Don EA in Upstate NY

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Jo Firey wrote:

- quote -

Ah now, that's all right. Dont' fret.

AS for me, I will NOT type all those trades, but prepare a
paper return, photocopy those 63 pages and give to client to
put the postage on the oversized envelope to Atlanta.

Cheer$,
Harlan Lunsford, EA n LA

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Jo Firey wrote:

- quote -

It depends. I understand that the software we use (Lacerte)
will allow import from Excel to Sch D, and our clients'
brokers can generally get stuff into Excel. I hope to learn
how to do it over the summer, because the software
documentation is sorely lacking.

Barring importability, we've done an 8453 and attached in the past. I
also know preparers who keep the detail in their file and say "detail
available upon request" on Sch D. I also know preparers who file a
paper return.

Phoebe

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OK I'll admit I haven't been paying attention. (I did try
to google to get the answer)

What is the current consensus of a return that has so many
1099B's that it is impractical to enter them all into the
tax software.

(You know the ones where the Broker list of 1099B's is 63
pages for total sales of $125,000 and a net gain of $153)

So we put see attached schedule on Schedule D and attach the
broker's gain/loss summary.

Does that still mean we can't EFile?

Thanks and sorry for not keeping up.

Jo Firey CPA

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