New York/Connecticut Association of Tax Professionals | Michael Mirabello | Activity https://www.nyctatp.org/members/michaelmirabello/activity/ Activity feed for Michael Mirabello. Sat, 02 May 2026 03:04:05 -0400 https://buddypress.org/?v= en-US 30 hourly 2 bde6a7cdb8d8770c509744b15f980de2 Michael Mirabello replied to the topic Drake Software Issues to Date in the forum Tax Discussion https://www.nyctatp.org/forums/topic/drake-software-issues-to-date/#post-21623 Wed, 05 Feb 2025 18:15:21 -0500 I actually just discovered if you put real estate taxes on Schedule A in Drake there will be a CT EF message prompting you to claim the credit.

]]> 50785865efddeb067d2915a248dd698a Michael Mirabello replied to the topic Drake Software Issues to Date in the forum Tax Discussion https://www.nyctatp.org/forums/topic/drake-software-issues-to-date/#post-21621 Wed, 05 Feb 2025 16:28:34 -0500 Hi Rosemarie,

I’ve been dealing with Drake for the last 2 weeks regarding CT. They told me if a teacher pension was in the phase out AGI range to put a zero overide in the CT modification to AGI screen line 45. When I did that the correct amount automatically went to the line 48b as the correct subtraction. Your right the property tax issue will…Read more

]]> fbe8ce0176cd0eb80380154f63daacf0 Michael Mirabello replied to the topic CT Premium Pay (Hero Pay) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-premium-pay-hero-pay/#post-20116 Wed, 14 Feb 2024 19:05:56 -0500 I called CT DRS again this morning. They said it is deductible for CT taxes just note it’s hero pay on line 49 with the amount. When I asked why there was nothing in writing or in any publication they said since it’s a one time pay program CT DRS decided against putting it in any of the pubs. Doesn’t make sense to me a press release would have helped.

]]> b616182fd7252751b566c8231a72cd3c Michael Mirabello replied to the topic CT Premium Pay (Hero Pay) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-premium-pay-hero-pay/#post-20111 Sat, 10 Feb 2024 22:42:56 -0500 Hi Anthony,

I called CT DRS a few days ago and an agent told me it was not taxable in CT. I’m not sure how reliable that is as they had no idea where to put the subtraction. You would think since they had a year to think about it, it would have been in their 1040 instructions

]]> 3a1dd560e51fdfa6f9f4568043894fbe Michael Mirabello started the topic CT Premium Pay (Hero Pay) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-premium-pay-hero-pay/ Sat, 10 Feb 2024 22:26:26 -0500 I’m sure your all starting to see the 1099-NEC’s for hero pay in CT. They are coming from Public Partnerships LLC out of Georgia whom I think the State Comptrollers office hired to send them out. My first question is why are they on a 1099-NEC implying self employment? Is it really SE or should these have been be on a 1099-MISC box 3 as other…Read more

]]> 59b82f8319434d42c7a398737cd97d3b Michael Mirabello replied to the topic IRS Statement - Taxability of State Payments in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irs-statement-taxability-of-state-payments/#post-18461 Sat, 11 Feb 2023 00:05:48 -0500 Thank you Rita for this post. So if you look at the detailed chart for CT it only specifies the $250 Child Tax rebate on it. To me that means the enhanced EITC is still taxable for Federal purposes and subtracted on CT. The PFMLA (less contributions) is still taxable for Federal and CT purposes. Would you agree?

]]> d9a6eeb78b5066e9822dc6f50d1b74fc Michael Mirabello replied to the topic IRS Statement - Taxability of State Payments in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irs-statement-taxability-of-state-payments/#post-18459 Thu, 09 Feb 2023 18:36:51 -0500 Well I talked to CT DRS yesterday. Here’s what they told me with no reservation. The enhanced EITC payments shown on a 1099-G should be reported on Schedule 1 line 8z (other income) on the Federal return. On the CT return you can subtract that same amount on CT Schedule 1 line 49 (other subtractions). The person said they are going to be putting…Read more

]]> 70e441715e79e0fbe3b12248fcf7ed34 Michael Mirabello replied to the topic IRS Statement - Taxability of State Payments in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irs-statement-taxability-of-state-payments/#post-18449 Sat, 04 Feb 2023 17:42:42 -0500 Great suggestion Rita. Between the CT Enhanced EITC, CT Child Tax Rebate of $250 and of course next year for Hero Pay it could make you crazy.

]]> 056ccab37b363e7cf110ada85cc40ac7 Michael Mirabello replied to the topic CT Enhanced EITC Payments 1099G in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-enhanced-eitc-payments-1099g/#post-18447 Sat, 04 Feb 2023 17:12:59 -0500 Hi William,

If I put it there it automatically shows as a subtraction of a state refund (line 42) of the CT return instead of line 49 other subtractions where the CT instructions say it goes. Not sure if that matters.

]]> 71d807dd8c38906818ebe38975237579 Michael Mirabello replied to the topic CT Enhanced EITC Payments 1099G in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-enhanced-eitc-payments-1099g/#post-18445 Fri, 03 Feb 2023 20:04:45 -0500 So I put the amount on the 1099G screen in Drake on the “state refund/credit” line. It won’t show as income anyway if the taxpayer didn’t itemize last year which most don’t.

]]> 36ada775f6949259c9a225f8eb711c04 Michael Mirabello replied to the topic CT Enhanced EITC Payments 1099G in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-enhanced-eitc-payments-1099g/#post-18443 Fri, 03 Feb 2023 14:21:24 -0500 I’m not sure on what authority CT DRS verbally told me it was taxable for Federal purposes. Obviously they think it is or why else would they have put it as a subtraction modification in their 1040 instructions?

]]> ecd5cdcfc50fa3a5019f72109332f950 Michael Mirabello started the topic CT Enhanced EITC Payments 1099G in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-enhanced-eitc-payments-1099g/ Fri, 03 Feb 2023 14:04:32 -0500 Has anyone in CT seen a 1099G yet for the enhanced CT EITC 2020 & 2021 payments that the state sent out in February and October 2022? I believe there will be a 1099G for each payment. Taxable on Fed return but remember there is a subtraction modification on the CT return (line 49).

]]> b8ba13d071c859ebabb31b7406d43491 Michael Mirabello replied to the topic Ultra Tax CT property tax update in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ultra-tax-ct-property-tax-update/#post-18437 Sat, 21 Jan 2023 17:22:16 -0500 Drake has not been updated CT either. They also have not put in a calculation for the teacher pension credit based on AGI as they can now choose the 50% or if eligible the 100% deduction.

]]> 5e9d99ab3dcf8a6b9c7b6a01e5805cfb Michael Mirabello replied to the topic Stimulus #3 - dependent children receiving SSI in the forum Tax Discussion https://www.nyctatp.org/forums/topic/stimulus-3-dependent-children-receiving-ssi/#post-15483 Sat, 10 Apr 2021 13:04:08 -0400 I have the same situation but can’t find anything definitive either. I told them don’t spend the money.

]]> 8b7a14bac982f7cc0b7f318f9317c83f Michael Mirabello replied to the topic CT BONUS DEPRECIATION in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-bonus-depreciation/#post-14240 Fri, 19 Jun 2020 21:26:23 -0400 Got my answer directly from CT DRS, 25% over next 4 years.

]]> ee9f7670c592f2ca884af1555fb3b5f4 Michael Mirabello started the topic CT BONUS DEPRECIATION in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-bonus-depreciation/ Fri, 19 Jun 2020 12:49:01 -0400 I have a client who had a K-1 from a PTP in 2018 that included a CT K-1 with bonus depreciation. Since it was year one I did not subtract any bonus depr. on the CT return in 2018. The client sold his entire interest in the PTP in 2019. So my question is do I get to take all the bonus depreciation in 2019 or only 25% the next 4 years or none at all?

]]> d2336312d01d05c51e86d2a06547265f Michael Mirabello replied to the topic CT 14% pension exclusion! in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-14-pension-exclusion/#post-13974 Wed, 05 Feb 2020 03:52:56 -0500 Hi Emmet, thanks for more clarification on the CT exclusion. I came across a return tonight that wasn’t generating the exclusion and at first I couldn’t figure out why. The answer turned out to be that there are also income limits the taxpayer has to be under $75,000 for single and $100,000 for MFJ

]]> 2b482a36f0ec80dbb9a2722b98439a38 Michael Mirabello replied to the topic K-1 1120S - Line 12S Excess business interest expense in the forum Tax Discussion https://www.nyctatp.org/forums/topic/k-1-1120s-line-12s-excess-business-interest-expense/#post-13241 Tue, 08 Oct 2019 04:00:08 -0400 Tom I agree and found this on the IRS website. See the answer to question 15.
https://www.irs.gov/newsroom/basic-questions-and-answers-about-the-limitation-on-the-deduction-for-business-interest-expense

]]> 8de9300f196b64950f2fb8df64f8d3a6 Michael Mirabello replied to the topic K-1 1120S - Line 12S Excess business interest expense in the forum Tax Discussion https://www.nyctatp.org/forums/topic/k-1-1120s-line-12s-excess-business-interest-expense/#post-13089 Fri, 04 Oct 2019 17:53:43 -0400 Linda, thanks for the article it came through fine. Looks like I’ll have some interesting reading later, lol.

]]> 7bd45ff4512f0eba3c416245ac29aa8a Michael Mirabello replied to the topic K-1 1120S - Line 12S Excess business interest expense in the forum Tax Discussion https://www.nyctatp.org/forums/topic/k-1-1120s-line-12s-excess-business-interest-expense/#post-13088 Fri, 04 Oct 2019 17:52:17 -0400 Hi Tom, It’s a 1120S K-1 if that makes a difference

]]> 34d1afea2b825fcbc8914a916cc3c523 Michael Mirabello started the topic K-1 1120S - Line 12S Excess business interest expense in the forum Tax Discussion https://www.nyctatp.org/forums/topic/k-1-1120s-line-12s-excess-business-interest-expense/ Fri, 04 Oct 2019 14:28:27 -0400 I have a client with an amount on line 12 S of the K-1 (excess business interest expense). If I determined that Form 8990 (Limitation on Business Interest Expense) is not needed for my client can I just take the excess business interest expense from the K-1 to Schedule A line 9 investment interest? The clients investment income is greater than the…Read more

]]> 79ba2a3a1302e4e8e3bcec09bff1f3dd Michael Mirabello replied to the topic Mortgage Interest in the forum Tax Discussion https://www.nyctatp.org/forums/topic/mortgage-interest/#post-5567 Sat, 30 Mar 2019 13:50:10 -0400 Yes they paid everything in 2018, took $98K out of their IRA to do so.

]]> c644ea6c84b0ec9d3c4b8ff67341315c Michael Mirabello started the topic Mortgage Interest in the forum Tax Discussion https://www.nyctatp.org/forums/topic/mortgage-interest/ Sat, 30 Mar 2019 11:24:46 -0400 Client fell way behind on mortgage payments but was able to catch up in 2018. The 1098 shows $43,000 in interest. Can they deduct all the interest or only the amount that relates to 2018?

]]> 4dab7a2965872fdaf0b1506138fbaf7e Michael Mirabello replied to the topic Disability Repayment in the forum Tax Discussion https://www.nyctatp.org/forums/topic/disability-repayment/#post-4606 Sun, 17 Feb 2019 22:08:39 -0500 The income is reported as 3rd party sick pay on a W-2 and is fully taxable. I agree with line 21 as I don’t want to adjust the W-2 as the IRS will flag it for a mismatch. Does anyone know if lawyer fees to collect SSDI income is still deductible as a misc. itemized deduction, it doesn’t appear that way to me

]]> 655474e9e736ce35c6551e44d3652390 Michael Mirabello replied to the topic Disability Repayment in the forum Tax Discussion https://www.nyctatp.org/forums/topic/disability-repayment/#post-4582 Fri, 15 Feb 2019 22:29:49 -0500 Thanks Tom,

That makes sense, should I attach an explanation?

]]> bf8565e111d1e864951118db01fd487a Michael Mirabello started the topic Disability Repayment in the forum Tax Discussion https://www.nyctatp.org/forums/topic/disability-repayment/ Fri, 15 Feb 2019 20:09:43 -0500 Haven’t encountered this situation in the past. My clients LTD paid him $50,000 in 2018. He was then awarded SSDI in early December 2018. According to his LTD policy, he had to repay them the entirety of the first SSDI 6-month 2018 lookback payment or about $17,000. This amount was paid/mailed by him the last week of December 2018 via banker’s…Read more

]]> c8e115ebf299b19a0df85c55e08c2f38 Michael Mirabello replied to the topic QBID & Home Office - Ultratax in the forum Tax Discussion https://www.nyctatp.org/forums/topic/qbid-home-office/#post-3225 Sun, 06 Jan 2019 14:53:04 -0500 Hi Tom,

FYI, Drake’s QBI worksheet is using line 31.

]]> 7137bf36ec9ba048b64bd5196a6b3f73 Michael Mirabello changed their profile picture https://www.nyctatp.org/activity/p/435/ Wed, 02 Jan 2019 01:55:19 -0500 0 9ca317b015d8a046771a7583e88627c9 Michael Mirabello's profile was updated https://www.nyctatp.org/activity/p/434/ Wed, 02 Jan 2019 01:35:51 -0500 0