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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2043
Experience:  Certified Public Accountant
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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
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Customer: I'm waiting for your reply. my email address is***@******.***
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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: 9 months ago.
Category: Tax
Expert:  Mark Taylor replied 9 months ago.

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

Expert:  Mark Taylor replied 9 months ago.

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