Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
The extension is granted on the Like Kind exchange and I
Hi Dr. Chen, The extension is granted on the Like Kind exchange and I understand that you meant deferred gain. I would like to ask you a few other questions.Partnership questions When we spoke yesterd… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,081 satisfied customers
I am preparing the K-1 for my LLC, and I used online tax
I am preparing the K-1 for my LLC, and I used online tax software (TaxAct.com). I feel fairly comfortable with the process, but my partner's K-1 is showing two numbers in box 14 (Self-Employment Earni… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
874 satisfied customers
We are considering to establish an LLC for real estate
Hi, we are considering to establish an LLC for real estate investments (flipping houses, buying rental income properties etc.). We will have 4 partners, myself, my wife, my uncle and my mom (I am a Gr… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
What is Gross Non Farm Income and how is it determined on
What is Gross Non Farm Income and how is it determined on the 1065? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,336 satisfied customers
My question is: This is the situation: a non resident alien,
This is the situation: a non resident alien, having a tax id and living in US soil for the entire year 2016 (still going under the process of visa approval) shares a partnership (LLC) with another person. The partnership only has two members - one general and the non resident as limited partner. … read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
286 satisfied customers
I started a partnership last year and am trying to fill out
I started a partnership last year and am trying to fill out the 1065 form. We design and sell prints, canvases, gifts, etc. We pretty much spent last year going through a lot of trial and error, so ha… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
874 satisfied customers
I am very confused as to how employee and matching
please. I am very confused as to how employee and matching contributions are reported for partners of an LLC (taxed as a partnerhsip). Do both types of contributions show up on their k-1 and their 104… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,570 satisfied customers
I have a question Form 1065, Schedule K-1. Both partners are
I have a question for about Form 1065, Schedule K-1. Both partners are equal partners. If there are 2 partners, and one partner (Partner A) makes $10 K in consulting and the other Partner B makes $0 i… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,635 satisfied customers
Where do I deduct home office expenses husband-wife partnership
Where do I deduct home office expenses for a husband-wife partnership LLC for a service business? We filed 1065 and received K-1s.… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
My family members (Sisters and I) now own commercial property
My family members (Sisters and I) now own commercial property as "tenants in common". The business tenants each want to provide a single 1099. I do the day to day management of the properties but we h… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,570 satisfied customers
2 member partnership llc - partnership was formed in md but
2 member partnership llc - partnership was formed in md but does not have any active business in md. It's source of income is in state of pa. My partner sent me a k-1 for md and pa for 2012 that has t… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am preparing K-1 forms for the partners within the LLC.
I am preparing K-1 forms for the partners within the LLC. One of the partners is questioning the self employment earnings. We show a loss of -21,001 (code A) in the first box but 25,220 (code C) in th… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I stopped providing services on Nov. 29th 2010 to a US company
I stopped providing services on Nov. 29th 2010 to a US company that I was 40% owner of. Notice was given with a written letter - Cessation of provision of services. I did not give up my ownership in t… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
An LLC member sold his 12% interest to an individual. To whom
An LLC member sold his 12% interest to an individual. To whom does the partnership send a K-1? If both is it prorated in some way?… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I am helping my daughter complete her 2010 taxes. She is part
I am helping my daughter complete her 2010 taxes. She is part of a "other" K-1 limited partnership and took a large distribution in 2010. It shows in the K-1 form in box L and on line 19 code A on the… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
Qualified Non-Recourse Financing Filing form 1065 for LLC,
Qualified Non-Recourse Financing: Filing form 1065 for LLC, LLC received k-1 which included qualified non recourse financing. Each partner just get his share and is reported on his K-1 correct? Also, … read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
174 satisfied customers
We have an LLC (partnership). We had a distribution in 2008
We have an LLC (partnership). We had a distribution in 2008 and losses (but no income). I cannot figure out whether the distribution needs to be included with "other income" on line 21 of the 1040? Or… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,789 satisfied customers
i own a LLC. i had a partner and last year she handled all ...
i own a LLC. i had a partner and last year she handled all the taxe paperwork, we had a loss of 36,000 dollars but we got no refund back that i know of, is there a way she could of fixed it so she got… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x