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Ray I ownership of the other Non-Mgr C Corps “C” – C Corp is
Hi Ray I ownership of the other Non-Mgr C Corps“C” – C Corp is owned by one member “M” who is a member of this partnership “D” – C Corp is owned both members “P” & “M” of this partnership I would like… read more
Ray
Ray
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Ray We are converting my husbands sole proprietorship that
Hi Ray We are converting my husbands sole proprietorship that has significant assets (inventory, vehicles and equipment) into this LLC setup. We both work in the business full time, so I am now going … read more
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Ray I am filing my tax return for the 2 TIER LLC/P for the
Hi RayI am filing my tax return for the 2 TIER LLC/P for the property I purchased under the LLC/Partnership. I need to know on the K-1 Part J how do I enter the percent if it's me and my husband as th… read more
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Ray Q.1 Sale of an asset question This is the scenario: Form
Hi RayQ.1 Sale of an asset questionThis is the scenario:Form 8824 showed the basis of the like-kind property to be $1,597,912.00.This property was sold on 5/12/2017 for $2,430,000.00.Recaptured deprec… read more
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N doing my research using my tax software to be sure I am
n doing my research using my tax software to be sure I am setting this up correctly I keep coming across questions on whether one of the members is an IRA or 401k retirement plan. 1. Can the 70% non-m… read more
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Ray I am trying to understand the # of hours each entity
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Ray I want to make sure I have all this right about the
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Ray If I set up the 1065 is the general partner who owes 10%
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If we filed a partition, do we need to prove who put in how
Hi Thomas,If we filed a partition, do we need to prove who put in how much money to the properties or the judge automatically order the sales and split the proceed half- half for each party? Thanks.… read more
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RayHow does the 1065 relate to the 1040, if at all?
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Can we dissolve a FLP after one of the GPs has died and deed
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I am currently in a partnership in Pennsylvania with 5 others
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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