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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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Situation ) I am selling a rental property in the state of

Customer Question

Situation ) I am selling a rental property in the state of New York & I live in Texas, included in the closing documents is a nonresident real property estimated income tax form IT-2663, my accountant just past away which was unexpected and I'm not sure
how to correctly complete this form? I own a construction company and I file a 1120-s & 1040 & did at the time I purchased this property, it was obtain from a friend by way of Quit Claim Deed due to the condition it was in and other personal reasons where
I paid $ 1.00 for the property. The amount of money I have put into it far exceed the price I'm selling it for, It has always been a huge loss & the improvements, upgrades & repairs have been completed over a number of years & for a number of reasons I am
limited on the time to complete this form. I have all of my returns but I am finding it rather difficult to determine how she filed everything for this property, I don't have my file she kept but I do have my returns but as I look at them they seem to be missing
some pages? I don't have my detail page for every year but at-least for a few years she was depreciating the property for what I believe is the amount I incurred the first year I owned the property which is about $23,000 but it doesn't look like she was adding
improvements as separate depreciable property? She has the method of accounting listed as cash for my 1120-S can you give me any advice on what to do, how to complete this form?
Submitted: 1 year ago.
Category: Capital Gains and Losses
Expert:  Arthur Rubin replied 1 year ago.

I think we would need to see some of your 1120-S returns for the years in question; it's possible that we could reconstruct the depreciation schedules from your forms 4562.

If you upload the forms, please redact your company's name and EIN, as well as the names and SSNs of the shareholders.

Customer: replied 1 year ago.
okay I will do that but it will take me a little while, an hour or two? is there anything else that might be helpful?
Customer: replied 1 year ago.
do you need the whole 1120-s or just the 4562 and the detail page for it?
Customer: replied 1 year ago.
Hello Mr. Rubin here are 2006 through 2010 and I'm working on the others now, please just let me know if you need anything else or if you have any questions? Jerry Well Mr. Rubin the files are to large to load through this site is there somewhere I can email them directly in the pdf form?
Customer: replied 1 year ago.
Mr. Rubin I forgot to tell you if you can help me with this matter somehow and do it as quick as you possibly can I will reward you with a very nice tip, very nice! I know I'm asking a lot but it is very important to me. Thanks again Jerry
Expert:  Arthur Rubin replied 1 year ago.

The site doesn't, as far as I know, allow direct E-mail between customers and experts. Have you considered a free hosting service such as DropBox. I don't use them, myself (except the free version of Google Drive to share files between my devices), but the Wikipedia article on "Comparison of file hosting services" may be helpful.

The 4562 and detail pages should be adequate.

I'm going to be offline from about noon until 9pm or so; if this is insufficiently fast service, please opt me out. I realize you may be approaching a deadline to file the NY forms, but I'll work on this as much as I can.

Customer: replied 1 year ago.
Hey Mr. Rubin I will figure out how to provide you access to the files before you get back online tonight I would prefer to keep working with you and I don't think it will be a very difficult or time consuming project its just that I know very little about these matters at hand.
Thanks again Jerry
Customer: replied 1 year ago.
Hello again Mr. Rubin her is the link to view my returns, my 2012 & 2013 files were to large to upload so I am splitting them up but it will take my a little bit to do that and I haven't filed 2014 yet but if you can help get me to 2014 I think I can handle it from there? https://www.dropbox.com/sh/yrp7qmxt8468des/AABuOK5Gn7nqwIgAtwAqfpNka?dl=0
Customer: replied 1 year ago.
Mr. Rubin I have it handled but thank you anyway. Jerry

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