Capital Gains and Losses

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When we make a schedule C for the last time for a business
When we make a schedule C for the last time for a business when we finish it, it is ok to have a non zero ending inventory (line 41) correct? And then in future years, all of those items in that endin… read more
PDtax
PDtax
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I had a few hundred dollars of royalty income from self
I had a few hundred dollars of royalty income from self published book on amazon in 2018, as I entered in 1099 misc info. In 2018 I did not publish any new book. These are coming from the books I publ… read more
Lev
Lev
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I had several hundred dollars of ending inventory in my
I had several hundred dollars of ending inventory in my (single owner) LLC return that I did last time on schedule C last year, which was closed end of 2017. Now I will do the schedule C with my SSN. … read more
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I closed my single owner llc in 2017, so when i do my taxes
I closed my single owner llc in 2017, so when i do my taxes now for 2018, although i still have things for schedule c, i will use my ssn this time. When i did schedule c last time for my llc last year… read more
bkb1956
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Question 1) on scehdule C, the inventory, can it consist of
Question 1) on scehdule C, the inventory, can it consist of different types of things? Question 2) also how do you determine the value of each item? that would be the cost of purchase? Question 3) for… read more
Robin D.
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I closed my LLC end of 2017 and made schedule C with its EIN
I closed my LLC end of 2017 and made schedule C with its EIN last time, this april. Now i plan to start doing business again as sole proprietor which will necessitate schedule C again. My business act… read more
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Accounting LLC partnership to be setup with Capital in
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Question about the guidelines/rules for treatment and
Question about the guidelines/rules for treatment and calculation of gains. Are there any rules that force all gains on property to be treated in the same way or can a method most favorable be applied… read more
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Lev
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I closed my LLC in NJ end of 2017, by going through their
I closed my LLC in NJ end of 2017, by going through their online system for closing and formally closed it. I was single owner and no employees and it was just some ad revenues fro websites, occasiona… read more
bkb1956
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I am doing my 2016 taxes now question 1) I received a 1099
I am doing my 2016 taxes nowquestion 1) I received a 1099 from amazon about the royalties i earned for selling my book on their platform. Is there a place to show this amount specifically on tax form … read more
Lev
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I purchased a car that was put into service Mar. 1
I purchased a car for 43k that was put into service Mar. 1 2015 as a leased vehicle that I lease to my Sub S Corp. I am struggling with my personal return on 1) Which schedule to report the lease inco… read more
PDtax
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when entering data to schedule C, cost of goods sold
when entering data to schedule C, cost of goods sold section, there is a line for "purchases less cost of items withdrawn for personal use". to me i believe it may be a negative number because the cos… read more
Lev
Lev
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I have a single member LLC that purchases, rehabs, and sells
I have a single member LLC that purchases, rehabs, and sells real estate. All properties sold last year were held less than 1 year. Should I report them on Schedule D or treat as ordinary income (ente… read more
Robin D.
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I own a GAS Station in CT. We are planning on selling the
Hello: I own a GAS Station in CT. We are planning on selling the gas station and currently have an offer in hand. I am trying to find out what kind of taxes will we be liable for on the proceeds?… read more
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i have several tax related questions 1-i am resident of NJ.
i have several tax related questions 1-i am resident of NJ. i owed and paid about $50 to NJ last year. can i add this to itemized deductions? for example the tax software i am using, adds the tax i pa… read more
R. Klein, EA
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struggling between schedule C and SE for real estate. I have 4 properties. 1 that we lived
struggling between schedule C and SE for real estate. I have 4 properties. 1 that we lived in from 1990 20 2012 and was rented in 2012-2013. Renters moved out Jan 1, 2014 and left us a mess! We repair… read more
Stephen G.
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Hello I bought a construction scheculing software with my
Hello I bought a construction scheculing software with my personal credit card and did a schedule for a construction firm remotely. They paid it to my name. I also have an LLC Company but that is in a… read more
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Fred, My wife and I are considering buying a second vacation
Fred, My wife and I are considering buying a second vacation home.We have some money in a couple of ROTH IRA's. Can we cash these out for this purpose? And what are the penaties and tax consequences?… read more
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R. Klein, EA

R. Klein, EA

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