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Old 03-05-2016, 10:08 AM   #21
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OP here again, as I said initially, I was not comfortable doing the taxes this year because of some problems I encountered using TurboTax that they could not resolve. The firm that I contracted with to do my taxes is very reputable, but the individual I got assigned to as a new client admitted he did not have as much experience as others in the firm. I had a different, and specific tax issue, where he admitted this was the first time he ever ran across it.

I did not leave with a warm fuzzy feeling about this so that is the reason I am asking questions here. They have my 2014 returns now so I can't check this.....The amount reported on this line should not exceed the total amount of any federal tax deduction taken on the prior year(s) Iowa return. But I will discuss this with them.
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Old 03-05-2016, 10:14 AM   #22
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It does not seem to me that OP is looking for tax advice per se from message boards. He is asking questions of people he trusts so that he can feel comfortable with his own efforts as well as the advice he is paying a CPA for.

Hiring a CPA does not guarantee a correct answer. I feel fine following this thread, as with most threads the process of understanding takes a while.
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Old 03-05-2016, 10:14 AM   #23
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Quote:
Originally Posted by Tom52 View Post
....The firm that I contracted with to do my taxes is very reputable, but the individual I got assigned to as a new client admitted he did not have as much experience as others in the firm. I had a different, and specific tax issue, where he admitted this was the first time he ever ran across it. ...
The usual process in a CPA firm is that newer associates prepare returns and more experienced people review returns. It appears that the review did not catch your situation.

After talking with you, the associate should escalate your situation to a higher level practitioner to see that the return properly captures your situation and that the amount added back in 2015 does not exceed the benefit that you received in 2014.

I suggest that you ask the associate to escalate your situation to a partner for review and keep pressing until you get a cogent answer.

I wouldn't necessarily throw the associate under the bus though. I suspect that the software that they are using may not capture the nuance of your situation, especially where your prior year return was not prepared on the software and that some override might be necessary and the partner should know what needs to be done.
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Old 03-05-2016, 10:16 AM   #24
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OP here again, as I said initially, I was not comfortable doing the taxes this year because of some problems I encountered using TurboTax that they could not resolve. The firm that I contracted with to do my taxes is very reputable, but the individual I got assigned to as a new client admitted he did not have as much experience as others in the firm. I had a different, and specific tax issue, where he admitted this was the first time he ever ran across it.

I did not leave with a warm fuzzy feeling about this so that is the reason I am asking questions here. They have my 2014 returns now so I can't check this.....The amount reported on this line should not exceed the total amount of any federal tax deduction taken on the prior year(s) Iowa return. But I will discuss this with them.
I suspected this. You need to elevate the issue to a senior CPA in the firm. They will advise you correctly.
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Old 03-05-2016, 10:28 AM   #25
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The return has not yet been reviewed by a more experienced CPA, this question came up as a result of my initial consultation. I brought up my concerns to them regarding this matter and am just trying to educate myself a bit. I see that my federal tax deduction on my Iowa return for 2014 is greater than $15,575 so it appears I likely will have to pay.
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Old 03-05-2016, 11:05 AM   #26
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Is the deduction on your Iowa return that is greater than $15,575 adjusted due to your part-time resident status in 2014 later in the return? In many states a part year resident will initially calculate taxes as if they were a resident for the entire year and then later in the return multiply that full resident tax by a percentage representing their part-time resident income.
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Old 03-05-2016, 11:05 AM   #27
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Well, then why HIRE one? I don't. But the OP did, and he is paying for the CPA to do it right. If (in addition to paying the CPA) he has to do the taxes himself by asking around on message boards, he might as well hand that money to the first bum he sees on the street. At least, that is my opinion.
I agree 100% (except for maybe the part about the first bum), but my point was that the wisdom and expertise on this board never ceases to amaze.
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Old 03-05-2016, 11:10 AM   #28
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Hold on a minute though... the return prepared by the associate has not been reviewed according to one of the OP's post. IMO the associate should probably not have shared the result of the return before it has been through partner review but sometimes where clients are asking they share that info prematurely... it appears that is what happened here.
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Old 03-05-2016, 11:23 AM   #29
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Well, maybe I was premature in "going off" on the CPA firm. If they have a senior guy checking things that sounds a lot better.
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