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Investment real estate properties LLC was formed with 2
Investment real estate properties LLC was formed with 2 members and was filed in 1065. One member is individual and other member is single member LLC. Investment real estate properties LLC received Re… read more
emc011075
emc011075
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I got about 8,000 from an aunt who passed away this year.
Hello, I got about 8,000 from an aunt who passed away this year. yesterday I got a letter from the attorney with a kansas form k-1 beneficiary share of income deductions credits. in part III item 1 an… read more
Robin D.
Robin D.
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If a client has a K-1 from his parent's trust, where would I
If a client has a K-1 from his parent's trust, where would I input this information on their tax return? Also, does getting a k-1 mean they were receiving money from the trust?… read more
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Lev
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I have a single member LLC which I must close this month. It
I have a single member LLC which I must close this month. It never made enough to pay myself a salary, but I did accumulate a few thousand dollars in the business account over the 5 years in business.… read more
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Lev
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K-1 Section II Section L: what figure carries over to my
K-1 Section II Section L : what figure carries over to my 1040 ? Current year increase $ 47,573. / Withdrawals & Distributions $ 14,201. (listed in part III line 19 as (A) Cash and Marketable Securiti… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Relating to my last question, I am completing the 8825,
Relating to my last question, I am completing the 8825, 1065, K-1s for an LLC whose members are 3 trusts (mine and 2 brothers). The LLC started operating in Dec 2015 (before then it was still in our f… read more
Lev
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Schedule K1 Part III item 13 It has 3 entries - H, K and
Schedule K1 Part III item 13 It has 3 entries - H, K and W 13 H - $x is further broken down into the following in the supporting statements on K1 investment interest expense from trading - non-materia… read more
Mark D
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"I have an llc and have partners. On the schedule K-1 does
"I have an llc and have partners. On the schedule K-1 does Part II Section L need to be filled out, also the partners % of business income is listed on Part II, line 1, which they have each received a… read more
Stephen G.
Stephen G.
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Dear Sir/ Madame,1) I personally invested a small amount
Dear Sir/ Madame, 1) I personally invested a small amount in a company named Luca Oil, LLC. I received a Form 1065 Schedule K-1. Box 14 Self employmet earnings (loss) , Code A $-3988 and code C: $2473… read more
Robin D.
Robin D.
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My investment clubs broker messed up and withheld Fed tax last
My investment clubs broker messed up and withheld Fed tax last year. They say I must get it back from the IRS. How does one do that?… read more
Lev
Lev
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Dont I have to carry the Compensation of officers to K1 line
Don't I have to carry the Compensation of officers to K1 line 16, then 1040 Schedule C line 6, then to 1040 line 12?… read more
Lev
Lev
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Needhelp filling out Form 4797. Bought single home as rental
Need help filling out Form 4797. Bought single home as rental for $75,000 on 1/1/2011. My taxes has it separated as $47,263 for house and $27,737 for land. Had to put in a new septic system on 5/19/20… read more
Anne
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Im a US citizen permanently residing abroad and must file
I'm a US citizen permanently residing abroad and must file IRS Form 8938 for 2011, since my income exceeded the reporting threshold. I have several foreign bank savings accounts. I plan to give inform… read more
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If I use Form 4972 and determine an amount to enter on Line
If I use Form 4972 and determine an amount to enter on Line 44 of Form 1040 , do I need to enter any amount on Line 16b of the 1040?… read more
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Hi, I am trying to fill out form 4797 for the first time and
Hi, I am trying to fill out form 4797 for the first time and need to know what amount to put in line 20 of part III. I sold this residential property this year, am holding the mortgage, and am reporti… read more
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I bought and sold real estate in 2011. In figuring out various
I bought and sold real estate in 2011. In figuring out various expenses on my 1040 Schedule C, I'm trying to figure out if the properties would be considered 'inventory'. What does section III of the1… read more
Lev
Lev
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I have a schedule K-1. On it, the form has the part I and
I have a schedule K-1. On it, the form has the part I and II filled out. As an individual filing taxes, under section J for profit, loss, and capital are all 0.0%. Under section L, there is a 0 for be… read more
socrateaser
socrateaser
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Hi Anne, Ive got to re-file 5 or so years of my 1040 along
Hi Anne, I've got to re-file 5 or so years of my 1040 along with a Schedule E. The way I submitted in years prior, I would file my 1040 then when I received my K1 (its a Family Ltd Partnership) I woul… read more
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