How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Mark Taylor Your Own Question
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 719
Experience:  Certified Public Accountant
Type Your Tax Question Here...
Mark Taylor is online now
A new question is answered every 9 seconds

1120) has investment property for which had paid substantial

Customer Question

1120) has investment property for which had paid substantial amount of money in expenses and amortization of real estate property.
JA: The Expert will know what to do. Please tell me everything you can so the Expert can help you best.
Customer: How do I report these investments on 1120 assumed expenses and how do I report these expenses paid on other 1120
JA: When we are ready I'll take you to the appropriate web page.
Customer: I'm waiting for your reply. my email address is***@******.***
JA: Is there anything else important you think the Expert should know?
Customer: My customer (1120) had purchased properties as investment in another 1120 he had already formed and running since 2005. The investment is of $425,000.00; how do I report this amount on first taxes and second taxes
Submitted: 22 days ago.
Category: Tax
Expert:  Mark Taylor replied 22 days ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 22 days ago.

You mentioned that the properties are for investment purposes. Are these rental properties? Are the properties being renovated and sold?

Related Tax Questions