I received my THE TAX BOOK today. 1040/SMALL BUSINESS DELUXE EDITION. Looks impressive and I look forward to using it. My contest between it and the QF is off and running. Was looking for someing on 1099-C forgiveness of debt income. Nowhere to be found in TTB (1040/SMALL BUS ED) index (debt, forgivesness, cancellation , all did not work). Found it in QF 1040 immediately under Debt. I then later realized it is in TTB 1040 only edition. This does lead to one question. If I have the TTB 1040/SMALL BUS EDITION, do I also need the 1040 only edition becasue coverage of 1040's is much more comprehensive in the 1040 only edition? I'am not sold yet on the idea of combining 1040 and small business together, especially if the coverage of each is less comprehensive than it would be in 2 separate books.
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Everything in the 1040 edition is in the Deluxe edition. Look again.
Say, how many points do you take off for getting the law wrong? Look at HOH covereage in both books. Notice something missing? -
Logical elimination
John, I think TTB would have a logical amount of material which could be eliminated by virtue of combining the volumes. I would think there are a few common topics which overlap but I'm sure the editors will answer you on this one...
Regarding QF, I'm sure everyone realized that PPC was capable of hiring competent authors to replace the authors that left. I fully expected QF to continue with experts of their own knowledge base or hired outright, and no one is surprised that they continue to publish a quality product. What we DID expect (and it has no doubt happened) is that the resource would become more corporate -- for example forbidding its authors to conduct their own tax business, and thus lose the "real world" experience that made QF great.
Another example is the plethora of overlapping products.
And yet another, to which you have already made reference: leaving the 1040 and small business as two separate volumes for the obvious revenue enhancement that would come with it. I believe the TaxBook folks combined the volumes to get a "leg up" on their competition, and I think it was a smart move. I doubt the item you question would exist in separate TB products, but I'll let the authors speak for themselves.
You will find other inclusions in the QF unique to its own publication - yours is not the first. There will also be inclusions in TTB which QF doesn't have.Comment
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Forgiven Debt
That's funny, I found it right away. Look on page 14-8. As Snag said, there are going to be things in one book that are not in the other. Comparisons will be more valid once tax season really starts.Comment
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It came! It came!
The UPS guy (not our regular) almost walked away because it didn't look like we were here.
Now I'll wager I have the best Christmas present of all!
Thanks you TMI guys and gals!
Merry Christmas everyone!Comment
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Index is the key
Bees Knees,Originally posted by Bees Knees
You say everything in the 1040 is in the Deluxe, but the index's are not the same. These books are only as good as thier index's. If we can't get to the info, it's of no use. Also why would TTB even sell someone both editions, if everything in the 1040 Edition is in the Deluxe edition?Comment
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Point well taken
SNAGGLETOOTH,Originally posted by Snaggletooth
You touch on some good points here. I suppose my main question is, for a 1040 question, should I even bother looking in the Deluxe Edition, if I also have the 1040 only edition. Will the 1040 only Edition have everything I would find in the deluxe (re: 1040's) plus more?Comment
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Index
My issue here is the comprehensiveness of the index, which is very important. Picking up the book and playing roulette, risk waisting time, coming up with nothing, and just having to go back to the index anyway. Your point leads to another question or issue. Is is better to go the the index first, or jump into the book roulette style. Depends on how complex the question is, I suppose.Originally posted by KBTSComment
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Merry Christmas
YES, RECEIVING THE TAX BOOK TODAY WAS LIKE GETTING A CHRISTMAS PRESENT, I LOOK FORWARD TO USING IT. IF THIS TAX BOOK (ALONG WITH QF) ARE A TEAM, AS GOOD AS I HOPE, MABY I CAN LET GO OF MY $ 200. SUBSCRIPTION OF PPC'S 1040 DESKBOOK, I HOPE.Originally posted by abbyComment
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Contest Between QF
[QUOTE=John of PA] My contest between it and the QF is off and running.[QUOTE]
I am doing the same... I have been a QF user for ALONG time and have decided to try this resource too. I have to admit, the ONLY reason I chose to buy this book was because of this Message Board. What a nice resource. Of course I made one post a few days ago about Personal Holding Company income and have yet to get a definative response.
Now do I need to buy the 1040 book seperate. I thought by purchasing the Deluxe book I wouldnt need the other...Comment
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Everything in the 1040 edition is in the Deluxe edtion. The reason why the index in the Deluxe edition is not the same is because it has extra stuff added for partnerships, corporations, and estates.Originally posted by John of PA
Why would TTB even sell someone both editions? Maybe because you purchased both editions.
Some offices have more than one tax pro working. So maybe they assumed you had another person working for you that didn't need the extra stuff in the deluxe version.
You haven't answered my other question. How many points do you take off for getting the law wrong. QF says you get HOH for claiming a qualifying relative as a dependent.
That isn't true.Comment
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If you can't get the correct info, it's of no use.Originally posted by John of PAComment
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I’ll get to the point.
Taxpayer comes into your office…says he is single but his girlfriend lives with him along with her 3 year old daughter from a previous marriage. Girlfriend stays at home to take care of her daughter and had no income. Taxpayer supports both.
Assuming they are not in violation of local law, taxpayer can claim girlfriend as a dependent. But does he get HOH?
QF says yes.
TTB says no.
Who is correct???
This situation probably happens several times a week at any H&R Block office across the country.Comment
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Lasser
I will check the Lasser book and see which way it goes on this issue. Good find.Comment
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Why not check with the 1040 instructions?
page 17. under HOH, number 2a.iiComment
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