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I forgot to file my IRS 1065 and forgot to file extension. I

I forgot to file my IRS 1065 and forgot to file extension. I usually self prepare and file myself. I can have the 1065 completed in next few business days. What is my best course of action at this point?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

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I own and operate a video production company for several

I own and operate a video production company for several years as a sole proprietor. It's an LLC. This has been my main source of income.This year, I'm going to become a traveling pastor. I'll be doing pastoral work. I'll receive funds from churches as I help them, and from private donors as well. I assume I can't receive these funds and report them through my LLC. Correct?Will I need to create a non-profit for my traveling church work? (By the way, I'll still have the LLC to make ends meet).I was hoping to manage everything under one roof.Any advice would be greatly appreciated about how to handle these two entities...especially managing for taxes.

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ABC Accounting Group

Bachelor's Degree

1,082 satisfied customers
Again with the Partnership LLC wanting to file as an S-Corp.

Hi Stephen,This is Michelle again with the Partnership LLC wanting to file as an S-Corp. I am filing a 1065 return for them for 2016. My major problem is my Schedule L is not balancing. My Balance Sheet is showing 2 partners with negative amounts.I truly am in need of your expertise please, today!! I can email you the information as well once I am contacted.Thank you,Michelle C. L.T.P.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,524 satisfied customers
Does a non profit HOA (Condo) in Ga. have to file with the

does a non profit HOA (Condo) in Ga. have to file with the IRS or StateJA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I recently bought a condo in Ringgold Ga. the board does not know if any forms need to be filed. It is non profit but the board has never filed any paperwork at tax time.JA: Is there anything else the Accountant should be aware of?Customer: not to my knowledge I want to insure they are doing things right as I just recently bought there

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Lev

Retired

Bachelor's Degree Equivalent

24,948 satisfied customers
My grandson is filing for the first time and did not receive

My grandson is filing for the first time and did not receive his W2 form from his summer employer. It was probably mailed at his previous address but was never received. Does he pay for a reprint, and is the employer responsible for furnishing a 2nd copy?JA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: I have contacted the summer employer and have been given the run-around. Do I have any options in getting the W-2 for my grandson?

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Robin D.

Vocational, Technical or Trade School

24,262 satisfied customers
I bought a single family rental property in 2015. I took

I bought a single family rental property in 2015. I took depreciation of the property for 2015 tax report. When I prepare tax report for 2016, I found the depreciation basis was too low. Is there a way to amend the depreciation basis now?

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Lev

Retired

Bachelor's Degree Equivalent

24,948 satisfied customers
I received unemployment and had taxes taken from those

I received unemployment and had taxes taken from those checks.JA: What state are you in? It matters because laws vary by location.Customer: At the time I lived in Seattle WAJA: Has anything been filed or reported?Customer: I had to repay overpayment and this took me years. When I finished it i only reported half of those money on my taxes can i still put in for the rest of the money. Paid it back about 4 years ago nowJA: Anything else you want the lawyer to know before I connect you?Customer: How many years do I have to recoup this money or has too much time passed

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Robin D.

Vocational, Technical or Trade School

24,262 satisfied customers
It is a question: my husband died july 24 2015. I filed

it is a long question: my husband died july 24 2015. I filed taxes as recently widowed/ married for that year. Someone told me I should file that way for 2016?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: okay what do you need to know?JA: Is there anything else the Accountant should be aware of?Customer: In April 2016 I received $4K distribution from my husband Peers and was told they could not WH taxes due to it being from 2015 and they sent we a 1099 ?

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Lev

Retired

Bachelor's Degree Equivalent

24,948 satisfied customers
Can a portion of a Section 1231 loss on the sale of income

Can a portion of a Section 1231 loss on the sale of income property be carried forward if the full deduction creates negative AGI?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I'm reviewing my 2015 tax return and find that a section 1231 loss reported on form 4797 created negative AGI of $15,000 therefore no itemized deductions were used. Can I file a corrected 1040 for 2015 to carry forward any of the section 1231 loss to 2016.JA: Is there anything else important you think the Accountant should know?Customer: no

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PDtax

Owner

Master's Degree

7,740 satisfied customers
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