User talk:IDrinkYour Milkshake

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BBD and SH loan

(wish I knew what to call you) did you ever get any resolution from your question? I have an S corporation with the same situation and everything I've read leads to a nonbusiness bad debt/STCL and not a business bad debt/ordinary loss and definitely not worthless stock (would love to use 1244). I'm done with the return now have to explain (I think I'll give them Code to read!) why they can only deduct $3,000 per year.

User Names can contain Spaces

Hi, I know you’ve been around for a while and probably know quite a bit about TaxAlmanac, but did you know that user names can include spaces?

Every time you post, your user name stretches out the "creator" and "last poster" columns to fit, and the "topic" column - which should be the widest - has to shrink to make up the difference. It gets especially bad when somebody else with a long user name posts around the same time (right now on page 1, your name stretches out the "creator" column, and Newportbeachcpa stretches out the "last poster" column). If you had spaces in your name, every 6 to 10 characters, the name would wrap within the column, rather than stretching it out.


You’ve established quite a bit of user history, so you probably wouldn’t want to just sign up again with a different user name. But it’s actually possible to change your user name and transfer over your user history. You just need to contact Tim Doyle, and he can do it for you. Here's the link to his talk page: http://www.taxalmanac.org/index.php/User_talk:Tdoyle.


(For an extreme example of the problems created by long user names, see page 21 of the tax forum (well, it’s page 21 on Sep 24; it may be a few pages back from there if you don’t read this right away). It’s names like that one that started me on my quest to try to get people to use spaces or stick to shorter names.)

Thanks,

Trillium 13:32, 24 September 2008 (CDT)

Your user name

When you first logged in, I wondered why anyone would have a user name like yours. Well, I just watched "There Will Be Blood," and of course now I know. I guess you liked the movie.Natalie 15:55, 30 November 2008 (CST)Natalie

Really? That'd be great!

I can make that name change later tonight, after you've logged out. Then, the next time you try to log in, use the new name, with a space between Your and Milkshake, and with the same password as before. If you try to log in with the old name after I've changed it, it'll shunt you into the create an account process, so don't do that.

Your user profile and all of your user history will transfer over.

THANK YOU!

Trillium 19:22, 6 March 2009 (CST)

Name change is done

I hope you like it. (It is possible to change back, if this turns out to not work for you.)

if you have any problems/questions later, please let me know. And thanks again.

Trillium 21:54, 6 March 2009 (CST)

form 4797 on I=inherited property discussion

Hi Milkshake,

I just wanted to know how you ended up treating the Form 4797 for the inherited property situation you discussed at this link:

http://www.taxalmanac.org/index.php/Discussion:Inherited_Home%2C_Investment_Property%3F

I have a nearly identical situation, and I keep going back to Schedule D and treating the property as a "Capital Asset" as prescribed on Pg. 16 of Pub 559. I want to classify the property as a 1231 property, but the IRS language is very ambiguous (as usual). I guess what I'm try to find out is if you used Form 4797 to report the loss, and if so, what argument you will use if required to explain your interpretation of the property being a "non-capital asset" with "ordinary" loss?

Great idea. I just want to make sure I understand the philosophy if I have to defend it.

Thanks,

Jim T.

E&O insurance

Check out Steve Vono at NAPLIA

stevev@naplia.com 866-262-7542

I've found the price to be competitive, the coverage comprehensive, the companies that he insures with highly rated.

JAD

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