How to efile?

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Subject Author Date How to efile? mort 01-05-2009  Re: How to efile? Brew1 01-05-2009  Re: How to efile? Brew1 01-05-2009  Re: How to efile? mort 01-05-2009  Re: How to efile? Bob Sandler 01-06-2009  Re: How to efile? Paul Thomas, CPA 01-06-2009  Re: How to efile? Arthur Kamlet 01-05-2009  Re: How to efile? mort 01-06-2009  Re: How to efile? Arthur Kamlet 01-06-2009  Re: How to efile? mort 01-07-2009  Re: How to efile? Paul Thomas, CPA 01-07-2009  Re: How to efile? Arthur Kamlet 01-07-2009
Posted by Paul Thomas, CPA on January 6, 2009, 8:03 am Please log in for more thread options > My accountant never mailed anything in. Did he do it wrong then? > I thought the IRS would need the statement, but he said no. If your previous tax preparer entered each transaction on the Schedule D and it's overflow statements, then there is absolutely no reason to send in any supporting documents such as the broker statements. That the IRS never contacted you about your returns means that the gross sales totals on Schedule D matched the amounts from the brokers statement(s). If you enter each and every transaction on Schedule D and it's overflow statements - then there is absolutely no reason to send in any supporting documents. Your software has some entry screen(s) for Schedule D, fill it out with every single sale transaction and it'll place it where it needs to be. Chances are that no one at the IRS will even look at your brokerage account if you did mail it in. -- Paul A. Thomas, CPA Watkinsville, 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. >> << ------------------------------------------------------- >> Posted by Arthur Kamlet on January 5, 2009, 11:08 pm Please log in for more thread options > > >mort wrote: >> I used an accountant to do my taxes the last two years. Prior to that I >> used TaxCut and mailed my returns in. This year I am going back to TaxCut, >> but may efile. >> >> I have 6 investment accounts, each of which has dozens of transactions. On >> schedule D I listed each account twice; once for long term and once for >> short term gains, and then attached copied of my account statements to >> support the schedule D entries. >> >> The accountant filled out the schedule D the same as I did, but didn't send >> any supporting documents in with the efiled return. He said that it was >> adequate to have them available if the IRS did and audit. The IRS hasn't >> complained yet, so I guess that is acceptable, but want to make sure. It is >> one thing to have my accountant do it wrong, but quite another to do it >> wrong myself. >> >> Hopefully I have explained the process adequately; is it the right way to do >> it? >> >You may e-file, but do not use a pin. You need to mail in Form 8453 >with your Schedule >D-1 attachment. If you generate an 8879, you didn't do it properly. > >See: http://www.irs.gov/efile/article/0,,id=98294,00.html If you efiled you will have generated an 8879 and also an 8453. That's where the efin and DCN and PINs are recorded. Only the 8453 and its attachment(s) get mailed to the iRS. -- 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. >> << ------------------------------------------------------- >> Posted by mort on January 6, 2009, 11:27 pm Please log in for more thread options > In article >> >> >>mort wrote: >>> I used an accountant to do my taxes the last two years. Prior to that I >>> used TaxCut and mailed my returns in. This year I am going back to >>> TaxCut, >>> but may efile. >>> >>> I have 6 investment accounts, each of which has dozens of transactions. >>> On >>> schedule D I listed each account twice; once for long term and once for >>> short term gains, and then attached copied of my account statements to >>> support the schedule D entries. >>> >>> The accountant filled out the schedule D the same as I did, but didn't >>> send >>> any supporting documents in with the efiled return. He said that it was >>> adequate to have them available if the IRS did and audit. The IRS >>> hasn't >>> complained yet, so I guess that is acceptable, but want to make sure. >>> It is >>> one thing to have my accountant do it wrong, but quite another to do it >>> wrong myself. >>> >>> Hopefully I have explained the process adequately; is it the right way >>> to do >>> it? >>> >>You may e-file, but do not use a pin. You need to mail in Form 8453 >>with your Schedule >>D-1 attachment. If you generate an 8879, you didn't do it properly. >> >>See: http://www.irs.gov/efile/article/0,,id=98294,00.html > > > If you efiled you will have generated an 8879 and also an 8453. > That's where the efin and DCN and PINs are recorded. > > Only the 8453 and its attachment(s) get mailed to the iRS. > -- Okay, I have read over the form and understand how it works. Was it the same in 2006 and 2007? Thanks -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Arthur Kamlet on January 6, 2009, 11:37 pm Please log in for more thread options > >> In article >>> >>> >>>mort wrote: >>>> I used an accountant to do my taxes the last two years. Prior to that I >>>> used TaxCut and mailed my returns in. This year I am going back to >>>> TaxCut, >>>> but may efile. >>>> >>>> I have 6 investment accounts, each of which has dozens of transactions. >>>> On >>>> schedule D I listed each account twice; once for long term and once for >>>> short term gains, and then attached copied of my account statements to >>>> support the schedule D entries. >>>> >>>> The accountant filled out the schedule D the same as I did, but didn't >>>> send >>>> any supporting documents in with the efiled return. He said that it was >>>> adequate to have them available if the IRS did and audit. The IRS >>>> hasn't >>>> complained yet, so I guess that is acceptable, but want to make sure. >>>> It is >>>> one thing to have my accountant do it wrong, but quite another to do it >>>> wrong myself. >>>> >>>> Hopefully I have explained the process adequately; is it the right way >>>> to do >>>> it? >>>> >>>You may e-file, but do not use a pin. You need to mail in Form 8453 >>>with your Schedule >>>D-1 attachment. If you generate an 8879, you didn't do it properly. >>> >>>See: http://www.irs.gov/efile/article/0,,id=98294,00.html >> >> >> If you efiled you will have generated an 8879 and also an 8453. >> That's where the efin and DCN and PINs are recorded. >> >> Only the 8453 and its attachment(s) get mailed to the iRS. >> -- >Okay, I have read over the form and understand how it works. >Was it the same in 2006 and 2007? Form 8453 for tax year 2006 was a form with a signature and was changed drastically into a no signature, transmital only form for tax year 2007. -- 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. >> << ------------------------------------------------------- >> Posted by mort on January 7, 2009, 2:17 am Please log in for more thread options > > Form 8453 for tax year 2006 was a form with a signature and > was changed drastically into a no signature, transmital only form > for tax year 2007. > -- > I just printed out the 8453 and 8879 for 2006 and 2007. I understand the 2007. 8879 is an authorization to efile, and 8453 is used to send in supporting documentation when efiling. The 2006 8879 is the same as the 2007; but the 2006 8453 is a little confusing. 1) I don't see anything on it about D-1s like on the 2007. Was it used to send in D-1s? If not, how were D-1s sent in? 2) My accountant did not prepare a 2006 8543, but only a 8879. The 8543 instructions say it is not necessary if the return was signed electronically using a PIN. So if I signed a 8879 with a PIN, then the 8543 was not necessary? I do appreciate your patience on all this. -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Similar Threads Posted Efile Deadline February 17, 2009, 4:52 pm Efile amendment April 13, 2009, 11:02 am Massachusetts efile letter November 24, 2006, 11:34 pm eFile Joint with deceased spouse November 24, 2006, 2:08 am efile - incorrect date of birth April 3, 2007, 2:07 am eFile and later amend for $8000 homebuyer credit? March 13, 2010, 9:14 am Amended Return - Claim Teacher Credit, Efile July 19, 2009, 1:09 pm