User talk:Mgmea
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Discussion:Reposted - LTD and Not Workers Comp BUH DUH
Hi MG,
I appreciate your input to my post a few weeks ago and you seem to have a handle on this one. I'm a little stumped now that I know what needs to be done.
Looking for more input on this one. My main concern now is what numbers I use for the lump sum averaging. original amounts excluding dbl payments or amended amounts that include the dbl.
Logic would dictate that I use the amounts excluding the dbl wages. If the SS was received those years as it should have been, then there would not have been w-2 dbl wages. Therefore lower income in regards to SS tax calc.
Could I argue this position?
Does that make sense? And yes, I know logic and sense doesn't always correlate to IRS logic.
Thanks
Fred
Fsteincpa 08:58, 30 March 2008 (CDT)
Below is what was posted last night in a blurred haze.
Now, let me see if I get this straight for the current year. Looks like multiple issues now. Lump sum averaging
I can still Lump sum average the SS received in 2007.
If yes, should this be based on the amended amounts with the disability amounts added in? Or should I base them on the original return amount? significant difference in tax arises.
Theoretically then, if I use lower amounts for prior year, do I back out the DBL I included in income in 2006. Logic would dictate that I use the higher dollar amount, but then this is like replacement money. My head hurts.
Claim of right -
No claim of right for 2004 and 2005 because he omitted, but, he omitted incorrectly it appears. Could claim of right be argured.
2006 I included in income thinking that this money is her money. So, legitimate claim of right for 2006.
did I say my head hurts?
client coming in tomorrow.
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