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  #5  
Old 02-11-2008, 03:48 AM
Bob Sandler
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Posts: n/a
Default Re: Whatever happened to the AMT "Adjustment" promised by congress. What are the AMT rules for filing 2007 1041?

On Thu, 7 Feb 2008, Angelo Campanella <a.campanella[at]att.netwrote:

- quote -

> Whatever happened to the gross fanfare exuded by both political parties
> late last year about "fixing" AMT? Has Turbotax adjusted for it? Is
> turbotax up to date yet?


Yes, TurboTax is up to date.

The best places to get answers to questions about TurboTax
are the TurboTax support site at
http://turbotax.intuit.com/support/
or the TurboTax Live Community at
https://ttlc.intuit.com/app/full_page

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #4  
Old 02-10-2008, 08:55 PM
Alan
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Posts: n/a
Default Re: Whatever happened to the AMT "Adjustment" promised by congress.What are the AMT rules for filing 2007 1041?

Arthur Kamlet wrote:
- quote -

> In article <47ab2bd4.255505218[at]news.rice.edu> ,
> <pleasedontemailme[at]dot.com> wrote:
> > Our VITA (Volunteer Income Tax Assistance) site is not opening until
> > the third week of February so the TaxWise software can reflect the AMT
> > change, whatever it is. Although in 14 seasons, I must say I've never
> > seen a single VITA client trigger AMT.

> True.
> But until after February 11, the IRS will not accept five forms,
> such as the Hope and Lifetime Learning Credits and the home
> energy credit.
> Why? AMT Fallout.
> Tomorrow or Tueday 2/12/08 those forms, which I have seen in VITA,
> should be accepted.

Posted by Taxwise:

AMT Forms begin filing Feb 11th in 6pm drain

updated Feb 8-- AMT Forms begin filing 2-11-08 in the 6pm drain

The following five forms can be filed after the 11am drain on Feb
11th. This is controlled by your computer's system date, so that
on Feb 11th, you can begin creating efiles for these returns.
Please don't efile until after the 11am drain to avoid rejects.

Form 8863, Education Credits

Form 5695, Residential Energy Credits

Form 1040A's Sch 2, child and Dependent Care Expenses for Form
1040A filers.

Form 8396, Mortgage Interest Credit

Form 8859, District of Columbia 1st Time Homebuyer Credit.

The expected increase in volume may result in 11 to 12 hour
delays for acks, particularly during the first week that you
transmit the AMT impacted tax returns.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #3  
Old 02-10-2008, 08:14 PM
Arthur Kamlet
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Posts: n/a
Default Re: Whatever happened to the AMT "Adjustment" promised by congress. What are the AMT rules for filing 2007 1041?

In article <47ab2bd4.255505218[at]news.rice.edu> ,
<pleasedontemailme[at]dot.com> wrote:
- quote -

> Our VITA (Volunteer Income Tax Assistance) site is not opening until
> the third week of February so the TaxWise software can reflect the AMT
> change, whatever it is. Although in 14 seasons, I must say I've never
> seen a single VITA client trigger AMT.



True.



But until after February 11, the IRS will not accept five forms,
such as the Hope and Lifetime Learning Credits and the home
energy credit.

Why? AMT Fallout.

Tomorrow or Tueday 2/12/08 those forms, which I have seen in VITA,
should be accepted.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #2  
Old 02-07-2008, 09:33 PM
pleasedontemailme@dot.com
Guest
 
Posts: n/a
Default Re: Whatever happened to the AMT "Adjustment" promised by congress. What are the AMT rules for filing 2007 1041?

On Thu, 7 Feb 2008 01:30:09 EST, Angelo Campanella
<a.campanella[at]att.net> wrote:

- quote -

> Whatever happened to the gross fanfare exuded by both political parties
> late last year about "fixing" AMT? Has Turbotax adjusted for it? Is
> turbotax up to date yet?


> Ang. C.


Our VITA (Volunteer Income Tax Assistance) site is not opening until
the third week of February so the TaxWise software can reflect the AMT
change, whatever it is. Although in 14 seasons, I must say I've never
seen a single VITA client trigger AMT.
-Crystal

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #1  
Old 02-07-2008, 09:31 PM
ed
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Posts: n/a
Default Re: Whatever happened to the AMT "Adjustment" promised by congress.What are the AMT rules for filing 2007 1041?

On Feb 7, 12:30*am, Angelo Campanella <a.campane...[at]att.net> wrote:
- quote -

> Whatever happened to the gross fanfare exuded by both political parties
> late last year about "fixing" AMT? Has Turbotax adjusted for it? Is
> turbotax up to date yet?
> Ang. C.
> --
> << ------------------------------------------------------- > > << The foregoing was not intended or written to be used, * > > << nor can it used, for the purpose of avoiding penalties *> > << that may be imposed upon the taxpayer. * * * * * * * * *> > << * * * * * * * * * * * * * * * * * * * * * * * * * * * * > > << * The Charter and the Guidelines for submitting posts * > > << *to this newsgroup as well as our anti-spamming policy *> > << * * * * * * * * *are atwww.asktax.org. * * * * * * * * > > << * * * * Copyright (2007) - All rights reserved. * * * * > > << ------------------------------------------------------- >

Yes, at the last minute Congress increased the AMT Exemption to
$66,250 MFJ for 2007 but left it reduced for 2008.. TT should have
this number in their latest revision,.

ed

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 02-07-2008, 12:07 PM
Paul Thomas, CPA
Guest
 
Posts: n/a
Default Re: Whatever happened to the AMT "Adjustment" promised by congress. What are the AMT rules for filing 2007 1041?


"Angelo Campanella" <a.campanella[at]att.net> wrote
- quote -

> Whatever happened to the gross fanfare exuded by both political parties
> late last year about "fixing" AMT? Has Turbotax adjusted for it? Is
> turbotax up to date yet?




Maybe. Maybe not. Ask TurboTax if you're curious.

I do know that the IRS isn't processing certain returns that contain certain
forms or schedules that haven't been changed yet. So even if TT and all the
other OTC software was 100% accurate and up-to-date. The IRS isn't. And
donchaknow, they are the ones who count the most.

They claim they'll be able to process those forms by February 11th.




--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 02-07-2008, 05:30 AM
Angelo Campanella
Guest
 
Posts: n/a
Default Whatever happened to the AMT "Adjustment" promised by congress. Whatare the AMT rules for filing 2007 1041?

Whatever happened to the gross fanfare exuded by both political parties
late last year about "fixing" AMT? Has Turbotax adjusted for it? Is
turbotax up to date yet?

Ang. C.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

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1041, 2007, adjustment, amt, congress, filing, happened, promised, rules, whatare
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