About lbones - Intuit Accountants Community

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Level 5

About

I'm a one person office in upstate New York. Been preparing taxes professionally since 1988.

Products

ProSeries Tax

Experience: 26 years

Details

1

Expertise

Personal Income Tax and Small Business

1

State proficiencies

New York

Activity Feed

Posts
Replies

Re: Cash Surrender of a Whole Life Insurance Policy - Taxable Amount

Thanks for taking the time Bob. Box 2b taxable amount is not determined is not checked. Only the total distribution box is checked. Box 7 is coded 7D. Box 2a is...

lbones

Mar 20, 2025
Cash Surrender of a Whole Life Insurance Policy - Taxable Amount

I have a client that cashed in a whole life policy and received a 1099R in the amount of $15,794.45. The 1099 shows nothing in box 2a or box 5. I am thinking th...

lbones

2

Mar 20, 2025
Closed out Trust receives a 1099R with withholdings

Client is the beneficiary of a Trust that was closed out in Feb of 2024. The Trust has received a 1099R with some taxable income and federal withholdings. My th...

lbones

4

Feb 28, 2025
Re: Recapture of Depreciation

Thank you for your assistance.

lbones

Feb 25, 2025
Re: Recapture of Depreciation

Thanks Terry! I am trying to wrap my head around this and want to make sure that I am understanding this correctly. The equipment purchased by the Partner has b...

lbones

2

Feb 25, 2025

Community Stats

Posts	123
Solutions	6
Cheers Given	69
Cheers Received	48
Member Since	‎12-06-2019

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