New York/Connecticut Association of Tax Professionals | Robert Diener | Activity https://www.nyctatp.org/members/robertdiener/activity/ Activity feed for Robert Diener. Sat, 02 May 2026 00:10:12 -0400 https://buddypress.org/?v= en-US 30 hourly 2 9a804cce15d9478fc52ebca284fb70a4 Robert Diener started the topic Tax treatment of sale of tax practice in the forum Tax Discussion https://www.nyctatp.org/forums/topic/tax-treatment-of-sale-of-tax-practice/ Wed, 02 Jun 2021 20:43:33 -0400 I am selling my practice for a percentage of gross received over 2 years. I have a basis of 29K from my original purchase of the practice for Covenant not to compete from the seller that the IRS disallowed at audit. How do I structure the deal for lowest tax on the sale?

]]> 0a5a3cc9795ae3068eb4231a2494ad7a Robert Diener started the topic Small Tax Practice for Sale in the forum Tax Discussion https://www.nyctatp.org/forums/topic/small-tax-practice-for-sale/ Tue, 01 Jun 2021 18:53:32 -0400 I am retiring. Lacerte software used. 151 clients, all mailed/emailed this tax season to my home. Gross 60K. Proposals to bobdiener63@gmail.com

]]> 74bbd9104ebcb4e6dd4563220d832cb9 Robert Diener replied to the topic Unemployment- $ 10,200 exclusion on NYS? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment-10200-exclusion-on-nys/#post-15479 Thu, 08 Apr 2021 14:42:47 -0400 The Cuomp administration announced yesterday that there will be no exclusion for the unemployment. I am going to file all the saved tax returns. Lacerte is doing it correctly.

https://spectrumlocalnews.com/nys/central-ny/news/2021/04/07/new-york-still-taxing-unemployment-benefits

]]> 3774dbf60cfccd5ce2d2004a0ec1575d Robert Diener started the topic 1099-C Cancellation of Debt on a Reverse Mortgage in the forum Tax Discussion https://www.nyctatp.org/forums/topic/1099-c-cancellation-of-debt-on-a-reverse-mortgage/ Thu, 25 Mar 2021 18:51:18 -0400 Client got a 1099- c for 200K for cancellation of debt on a reverse mortgage. He lived in house over 5 years. Is this excluded under primary residence exclusion?

]]> 34caad68c4abe3a83968c66479a32beb Robert Diener replied to the topic Unemployment- $ 10,200 exclusion on NYS? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment-10200-exclusion-on-nys/#post-15457 Wed, 24 Mar 2021 16:07:03 -0400 Any update on this?

]]> 9a5e0cbe4193876029e6af17c2984f24 Robert Diener started the topic Unemployment- $ 10,200 exclusion on NYS? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment-10200-exclusion-on-nys/ Fri, 19 Mar 2021 14:25:42 -0400 Lacerte updated their software today and is taking the exclusion on both the Federal and NYS. However, I have not seen that NYS approved this. Does anyone know for sure?

]]> 16c092653b62d9121702137ff1531f54 Robert Diener started the topic 1041 expert needed-Need info-might fave a client for you. in the forum Tax Discussion https://www.nyctatp.org/forums/topic/1041-expert-needed-need-info-might-fave-a-client-for-you/ Tue, 16 Mar 2021 23:24:40 -0400 Client-Married filed joint for 2020, husband died 3/14/20. Live in NY.
They also have 2 irrevokable trusts, one in husband’s name, one in wife, that were done in 2018.
I thought I would just have to file blank 1041 grantor tax returns and report the income on the 1040, but now I am not that sure. Since the husband died on 2020. and the trust…Read more

]]> 48c8da4ae2aa2ee801c46737c20ca325 Robert Diener replied to the topic Unemployment in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment/#post-15426 Sat, 13 Mar 2021 15:40:46 -0500 Per IRS Newsletter:
The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information about a new round of Economic Impact Payments, the expanded Child Tax Credit, including advance payments of the Child Tax Credit, and other tax provisions will be made available as soon as possible on…Read more

]]> 43a58e4c432b898d57228f702517c905 Robert Diener replied to the topic Unemployment in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment/#post-15424 Fri, 12 Mar 2021 15:51:29 -0500 Did they update the software to apply the exclusion to unemployment?

]]> 0b2e8c066a52b42826dac78c6dd786a9 Robert Diener replied to the topic Unemployment - Some MAY not be taxable in the forum Tax Discussion https://www.nyctatp.org/forums/topic/unemployment-some-may-not-be-taxable/#post-15413 Tue, 09 Mar 2021 01:49:19 -0500 This is a nightmare. I am going to hold all new tax return s that have unemployment and all that were not efiled yet. If this applies to 2020, it is crazy. The software will have to update it, and what about NYS????

]]> b2ccb52a16c459f14f68c3321bad1f7b Robert Diener started the topic Someone familiar with 1041 and basis? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/someone-familiar-with-1041-and-basis/ Mon, 01 Mar 2021 17:36:49 -0500 taxpayer had rental property and dies in 2019. Daughter inherited the house and sold it in 2020. Sale reported on 1041? Is basis to estate the FMV on date of death, without any depreciation adjustments?

]]> 98a8f5ecd5ec8fc73114e0c066bbf3f5 Robert Diener started the topic Stimulus payment for Dependent in the forum Tax Discussion https://www.nyctatp.org/forums/topic/stimulus-payment-for-dependent/ Mon, 22 Feb 2021 18:52:48 -0500 Medical student 25 years old, income is 2000 in dividends. Parents claimed him in 2018 and 2019. If the parents don’t claim him on 2020, can he get a stimulus, since=he didn’t get any? I tested this situation on Lacerte, checking the box “could be claimed as a dependent”, and Lacerte gave no recovery credit.

]]> 7c967ec2f864a1e16ad9e443129ea608 Robert Diener started the topic Foriegn Income Exclusion for foreign LLC in the forum Tax Discussion https://www.nyctatp.org/forums/topic/foriegn-income-exclusion-for-foreign-llc/ Mon, 08 Feb 2021 17:20:06 -0500 My daughter lives in Thailand. She has a small business earning about 30K per year. I have always filed a schedule C for her and took the foreign income exclusion. In 2020, she formed a n LLC there, which is like a corporation in Thailand. Can I still file a schedule C for her and take the exclusion? There is no formal salary or anything like that.

]]> 3ab698017b22445a930c583846efad0c Robert Diener replied to the topic PPP Loan Forgivenesa for Self Employed in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ppp-loan-forgivenesa-for-self-employed/#post-15339 Mon, 25 Jan 2021 22:44:44 -0500 2019 Schedule C is 100k.can they apply now and automatically get loan forgiven?

]]> b6eed3f015f4f550fa4cc7955a190c4b Robert Diener started the topic PPP Loan Forgivenesa for Self Employed in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ppp-loan-forgivenesa-for-self-employed/ Mon, 25 Jan 2021 22:10:49 -0500 Is this possible, sounds too good to be true? Schedule C shows 100K, I can get a loan for about 20K and it is automatically forgiven? Schedule C only-no employees. Can this be????

]]> a643ebbad49f7834ff60dc37925dd47c Robert Diener started the topic Suggestions on how to do remote tax prep during covid? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/suggestions-on-how-to-do-remote-tax-prep-during-covid/ Wed, 16 Dec 2020 21:05:30 -0500 Open to suggestions. Last tax season, starting in March. I had everyone mail their papers to me, but that is a bit of a pain. Has anyone used an online portal, and if so, which one and how did you you do it?

]]> c1dcf80de6b77ac5ec90d5e24effc8f6 Robert Diener replied to the topic Client won car in sweepstakes in the forum Tax Discussion https://www.nyctatp.org/forums/topic/client-won-car-in-sweepstakes/#post-15064 Sat, 28 Nov 2020 17:24:17 -0500 Don’t know about sales tax, but for income tax, client should get quotes on buying the car, may com ep with a lower FMV for the car, as 1099 will probably show the MSRP, which may be more than FMV.

]]> 17709258e4eadf040691959cf925aa47 Robert Diener started the topic Estimated Tax and capital gains in the forum Tax Discussion https://www.nyctatp.org/forums/topic/estimated-tax-and-capital-gains/ Mon, 12 Oct 2020 15:28:36 -0400 I am not very experienced with estimated tax other than the normal 4 payments.

I have a doctor whose group is being bought out and is getting over 1 million dollars in a combination of distributions subject to ordinary income and capital gains. He will receive this before the end of the year. I tried to get him to have the 110% of 2019 tax amount…Read more

]]> 3d31e42c251435ebb0463fd5637791f8 Robert Diener replied to the topic 2018 casulaty loss for Amended NYS return-Legal Fees in the forum Tax Discussion https://www.nyctatp.org/forums/topic/2018-casulaty-loss-for-amended-nys-return-legal-fees/#post-14426 Wed, 02 Sep 2020 20:48:03 -0400 Tom,

So since some the final amounts were recovered in 2020, but the loss occured in 2018, the loss gets deducted in 2020? Very confusing. Theft occured in 2018, but part of the amounts were recovered in 2019 and 2020 through legal action. Which year to deduct?

]]> 6e5a5b1ee5524700ede28ec41798cee7 Robert Diener replied to the topic 2018 casulaty loss for Amended NYS return-Legal Fees in the forum Tax Discussion https://www.nyctatp.org/forums/topic/2018-casulaty-loss-for-amended-nys-return-legal-fees/#post-14366 Thu, 27 Aug 2020 03:09:10 -0400 In addition, which year gets the deduction? Although the theft occured in 2018, some ampounts were recovered in 2019 and 2020.

]]> 0218fa65e8d057210aba070df208b68e Robert Diener started the topic 2018 casulaty loss for Amended NYS return-Legal Fees in the forum Tax Discussion https://www.nyctatp.org/forums/topic/2018-casulaty-loss-for-amended-nys-return-legal-fees/ Thu, 27 Aug 2020 02:51:21 -0400 Since NYS follows the old rules, casulaty losses are still deductable. Client lost several hundred thousand dollars when he wired funds to buy a house, and the funds were misdirected and stolen. He sued the bank that did the transfer and recovered some of the funds. He also had legal fees of 200K to sue the bank. The question is, are these legal…Read more

]]> df6f706a4f22d3d5f6e0518d129a8b65 Robert Diener started the topic IRS balance due letters in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irs-balance-due-letters/ Fri, 14 Aug 2020 13:45:48 -0400 Several clients just got letters saying they owe their balance due from the 1040. All the clients paid timely and have cancelled checks. The letter has no disagreement section. Solution?

]]> 05fc092bfcbedb523c5f7a5238c6b86a Robert Diener started the topic Foreign Tax Credit-Canadian Capital Gains on Rental Property in the forum Tax Discussion https://www.nyctatp.org/forums/topic/foreign-tax-credit-canadian-capital-gains-on-rental-property/ Mon, 11 May 2020 16:42:00 -0400 Client sold a rental property in Canada and paid Canadian Capital gains and Quebec tax. How do i handle the foreign tax credit on this, ans is the Quebec tax treated as part of it, or is it a Credit on the NYS tax return?

]]> 791239852628a55449ff2f0ab49124f6 Robert Diener started the topic Care Act 401K Withdrawals in the forum Tax Discussion https://www.nyctatp.org/forums/topic/care-act-401k-withdrawals/ Fri, 10 Apr 2020 17:56:48 -0400 If taxpayer takes out 100K from 401K due to hardship, can he pay it back over 3 years to avoid taxes on it. Does anyone know how this works, there is limited info on the web?

]]> f89a1ad300457b12b8f2edef8fbdadd6 Robert Diener started the topic Self Employed travel expenses in the forum Tax Discussion https://www.nyctatp.org/forums/topic/self-employed-travel-expenses/ Wed, 01 Apr 2020 19:02:18 -0400 Taxpayer is a doctor. He traveled to another state for a few months and worked on a 1099. Can his travel expenses and temporary living expenses be deducted on his schedule c?

]]> b7d1d40de3823ebc9269ddea1daaa36b Robert Diener replied to the topic Keeping safe with the Pandemic? in the forum Tax Discussion https://www.nyctatp.org/forums/topic/keeping-safe-with-the-pandemic/#post-14088 Tue, 24 Mar 2020 21:25:40 -0400 Moved back to South Carolina. taxes by mail and email only.

]]> 2a9261017674cbdb4c91bd6aba85281f Robert Diener started the topic 2018 Theft loss in the forum Tax Discussion https://www.nyctatp.org/forums/topic/2018-theft-loss/ Mon, 16 Mar 2020 21:58:15 -0400 In 2018, taxpayer wired 600K for a closing to buy a house (personal residence). The 600K wire transfer was redirected and stolen. He hired a lawyer and sued the lawyer/closing company, as apperantly their computer was hacked and caused the theft.. So far he has recovered 135k, but has incurred 180K in legal expenses.

i want to amend the 2018 NYS…Read more

]]> aa5673a8eb9609c106f78e4768454790 Robert Diener started the topic Mortgage Interest Deduction in the forum Tax Discussion https://www.nyctatp.org/forums/topic/mortgage-interest-deduction/ Mon, 16 Mar 2020 21:41:44 -0400 Client owned residence (Home 1), with no mortgage left on it. He bought a second home and took a mortgage on home 1 and used the money to buy home 2. Am I correct that he cannot take a deduction because the mortgage was secured on home 1, and not secured on home 2?

]]> 8cdb2f158657a18d85df00e0837c3597 Robert Diener replied to the topic 1099R E file problem in the forum Tax Discussion https://www.nyctatp.org/forums/topic/1099r-e-file-problem/#post-13995 Thu, 13 Feb 2020 23:07:20 -0500 Thanks. sounds good!

]]> 60e1e9a479b31f48bd167439939ea1b6 Robert Diener replied to the topic 1099R E file problem in the forum Tax Discussion https://www.nyctatp.org/forums/topic/1099r-e-file-problem/#post-13992 Thu, 13 Feb 2020 18:28:48 -0500 Yes, critical diagnostic, won’t file the return without it!

]]> 363f860255e88dcfe484e0c3c0b72b8d Robert Diener started the topic 1099R E file problem in the forum Tax Discussion https://www.nyctatp.org/forums/topic/1099r-e-file-problem/ Thu, 13 Feb 2020 17:51:18 -0500 Did my first return with a 1099R. Can’t believe it, but Lacerte gives diagnostic that phone number from 1099R must be input. Some have no phone number. What to do? Make up a number???

]]> 4fc8c210b105e1ca22617d49e9165ad2 Robert Diener started the topic Late filed 2017 1040 in the forum Tax Discussion https://www.nyctatp.org/forums/topic/late-filed-2017-1040/ Tue, 28 Jan 2020 03:09:16 -0500 Taxpayer received IRS letter for nor filing 2017 tax, with calculation based on single, showing large balance due. They are actually joint with refund. Letter required filing of 1040 by 10/19. They are filing now. Notice of Deficiency was received. Do I file original 1040, or 1040X based on calculation in letter (SFR)?

]]> 8f6a8556f81147e955316ef58efcf092 Robert Diener started the topic Looking for annuity expert in the forum Tax Discussion https://www.nyctatp.org/forums/topic/looking-for-annuity-expert/ Fri, 14 Jun 2019 17:06:58 -0400 Are any of the members very experienced in selling annuities in NY. I am looking into getting one, and need someone who can work with me.

]]> fcdf2c85d5f728eb1ef98c846cbf4b61 Robert Diener started the topic 911 Victims Payment in the forum Tax Discussion https://www.nyctatp.org/forums/topic/911-victims-payment/ Fri, 05 Apr 2019 01:46:52 -0400 Client received 200K payment as a result of class action lawsuit for wrongfull death against foreign county. taxable?

]]> ed28701e5059f9eebd2cb6f9d55619f9 Robert Diener started the topic Mortgage interest deduction- Help! in the forum Tax Discussion https://www.nyctatp.org/forums/topic/mortgage-interest-deduction-help/ Thu, 04 Apr 2019 01:15:07 -0400 Client sold a house for 920K in 2018 that he bought and lived in since 2004. He paid 935K for it and had a 850K mortgage, which was paid off in 3/18 when he bought a new home.

Mortgage interest on old home for 2018 was $ 18306

In 3/18 he bought a new home and took a mortgage for $ 1,280,000.

Can he deduct the $ 18306, plus the mortgage interest…Read more

]]> 71c99380d301998603816205e2d4a302 Robert Diener started the topic 199A deduction for Parkking Lot Rental in the forum Tax Discussion https://www.nyctatp.org/forums/topic/199a-deduction-for-parkking-lot-rental/ Fri, 15 Mar 2019 21:43:17 -0400 Client files Schedule E for a parking lot for about 100 cars. Personal services are performed often-management, cleaning, office , etc. Does this qualify for QBI deduction?

]]> fc3eab9be787dc6bc81bed8b88d22f4e Robert Diener started the topic Complex sale of rental property, Help! in the forum Tax Discussion https://www.nyctatp.org/forums/topic/complex-sale-of-rental-property-help/ Tue, 12 Mar 2019 18:53:11 -0400 Taxpayer sold rental property with FMV of 700K to his daughter for 400K.

Publication 544 states:
“Gifts
If you make a gift of depreciable personal property or real property, you do not have to report
income on the transaction. However, if the person who receives it (donee) sells or otherwise
disposes of the property in a disposition subject
to…Read more

]]> 76d750c47fdf053f838a20d99e80f217 Robert Diener started the topic 199A deduction in the forum Tax Discussion https://www.nyctatp.org/forums/topic/199a-deduction/ Wed, 13 Feb 2019 14:04:18 -0500 Taxapayer is a medical doctor on W2, salary about 400K. He also does lectures and gets about 100K, which is SE income. I assume that the 100K does not qualify for the 199A deduction because it is personal service income, medical, and taxable income exceeds $ 315K (joint return). Or does it? Is medical lectures considered personal service income?

]]> 1ebc7d4c0015c3802f8ca7f7d8f06e70 Robert Diener replied to the topic Testing the Notifications Setup in the forum Tax Discussion https://www.nyctatp.org/forums/topic/testing-the-notifications-setup/#post-2514 Fri, 26 Oct 2018 19:35:06 -0400 got it, but twice ( 2 emails)
Bob Diener

]]> 38c209d5ed0e3f16ea276e07377c0767 Robert Diener started the topic Sales tax- Wayfair Supreme court decision in the forum Tax Discussion https://www.nyctatp.org/forums/topic/sales-tax-wayfair-supreme-court-decision/ Fri, 12 Oct 2018 19:30:58 -0400 Are there any members that are experts in sales tax?

I am screwed!

My online promotional products business does online business in the 50 states, with nexis only in South carolina, where my home office is in. In no states do I do the 100K or 200 order minimum, but my wholesale suppliers are now starting to charge me sales tax. They will only not…Read more

]]>