most unusual return I have ever seen

[oceanlovin'ea]

I have a return I am working on....actually it is my daughter's return. I have entered their W-2's and 1099's ( she worked from home for half the year). They have 2 children. Their total tax is EXACTLY the same as the amount that they paid in. it will change when I enter expenses, though.

I don't think I have ever seen that happen before.

Linda, EA

[Burke]

It's happened to me twice in 35 years. And that was the FINAL answer after deductions.

[Gretel]

Same here, last year one tax return. Creates an interesting sensation.

[RitaB]

Hahahaha

Creates an interesting sensation.

Once in 18 years. Checked it about 15 times.

You want to tell the whole world, but they would look at you like you had two heads.

[RitaB]

Speak of the Devil

The Sch C I just did had materials and inventory on p. 2, and the Gross Income was still exactly the same as Gross Sales. Line 1 = Line 7

Interesting. And a really bad way to do business.

[taxea]

What kind of business does she do if she has no other expenses? One would think that just about any business would have office expenses, possibly vehicle expenses, equipment repair.
Interesting!

[RitaB]

They did

What kind of business does she do if she has no other expenses? One would think that just about any business would have office expenses, possibly vehicle expenses, equipment repair.
Interesting!

Yes, she did have other expenses.

My point was that line 1 = line 7, even with COGS in between.

[Bonnie]

Yes, I had that happen once too a few years ago and this is my 18th year so one time in 18 years. It was an errey feeling and yes, I did recheck everything seveal times to make sure.

[KathMorgan]

Me Too! But here's another one...

I had a zero balance return a couple of years ago like that. Spooky! Even funnier this year I had a young man who was getting a $1 refund from the IRS and owed the state $1. That was wierd!

[RitaB]

You win

KathMorgan, you win. Wow.

[PIGLEE]

I had one , several years ago. It was a complex return, no way he could have know in advance. But when he came in he said he wanted to break even, no refund, and he didn't want to pay anything. Well when I was finished, I went to see what the results were. Well I felt really confused, and it took me a few moments to realize "He did break even". He really got upset, and was afraid that IRS would think that he "fixed" it that way. He had some clothing donations, and he was positive that he had over valued them, and had me change it so that he owed something. He was really uptight about breaking even. Said he had never cheated and he didn't want IRS thinking that he cheated to break even.