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Recent Treasury Regulation questions

We incorporated in 2015, and are a software application

We incorporated in 2015, and are a software application without any appreciated value (we have yet to launch). When I file my 83b election for my unvested share, do I state that the amount to include in my gross income is $0? or is it par value per share x amount of shares in grant?Best

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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I received a 1099 misc line 3 from Enterprise Pipelines as a

I received a 1099 misc line 3 from Enterprise Pipelines for damages as a result of the pipeline installation.The payment was for me to hire someone to fix the damages as their crew had left the area.I believe this should be non taxable as it is not income.What forms do I use to file this and avoid this?

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Robin D.

Vocational, Technical or Trade School

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Have a partnership LLC where the commercial building is

Have a partnership LLC where the commercial building is titled. That. Building is being rented two to tenets. One of them is a business that the same tow Partners own and the other is rented to a non-related party. On the 1065 return schedule OK, is this considered a non-passive activity even though it's a rental property because it is being rented to a related party?

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Lev

Retired

Bachelor's Degree Equivalent

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My husband and I have been living separately years pending a

My husband and I have been living separately for 6 years pending a divorce. I fully support myself but since I have no qualifying children I can't use HOH as my tax filing status. Would I be able to file as single considering in AR a legal separation means living apart for 18 months pending a divorce?

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Regarding Section 179 and Uber , I have placed Vehicle

Customer: Regarding Section 179 and Uber JA: Thanks. Can you give me any more details about your issue? Customer: I have placed Vehicle in UberSelect & business use effective 2015 and would like to know whether I can writeoff full value of the car in year 2015 JA: OK got it. Last thing — JustAnswer charges a fee (generally around $32) to post your type of question to Tax Experts (you only pay if satisfied). There are a couple customers ahead of you. Are you willing to wait a bit? Customer: ok JA: OK. Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.

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Lev

Retired

Bachelor's Degree Equivalent

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24,192 satisfied customers
S Corp transfers assets of $1M value, with zero adjusted

S Corp transfers assets of $1M value, with zero adjusted basis, to partnership for 50% interest. What are tax consequences?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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I have a rental property which the tenets employer is going

I have a rental property which the tenets employer is going to pay the monthly rent. The employer wants me to do a W-9 before issuing me a check. This doesn't sound correct to me. Wouldn't this mean I would be a 1099 contractor for the company?

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I have 3 restaurants each operate under s corporation. each

I have 3 restaurants each operate under s corporation. each resatauarnt has 2 sharesholders and I have 50% ownership on each restaurant. I and other shareholder also work as an employee of the corporations - chef, waiter.However I want to set up another management corporation with another shareholder that all 3 restaurant corporation will pay a mangement fee and mileage expenses to the management corporation. Question is what type of the corporation should i set it up.The management corporation will have a defined benefit pension set up for all shareholders to reduce tax. My question is setting up the management company and have a DB plan is ok with the IRS. Please advise.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,802 satisfied customers
My wife and I just bought a new house. In order to get the

My wife and I just bought a new house. In order to get the money for the down payment in our accounts before we sold our current house we pulled money out of our retirement accounts with the intention of put the money back in within the 60 day window.I pulled money out of my ROTH IRA and a SEP IRA. What I didn't realize was that I am now only allowed one rollover per year as of 2015. So, that means that I was able to put the money back into my ROTH IRA without penalties or taxes, but it looks like I will have to pay the penalty and taxes on the SEP IRA.What I am wondering is if I put the money back into my SEP IRA in the 60-Day window will I have to pay both the early withdrawal penalty as well as taxes on the money distributed from this account? I got advice from one person that made it sound like I might only pay the early withdrawal penalty if I get the money back into the account within the 60-Day window.

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

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16,802 satisfied customers
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