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My partnership was purchased by and S corp how do I report
hello my partnership was purchased by and S corp how do I report that? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I am using turbo tax for business. It is filling out line
I am using turbo tax for business. It is filling out line 17a on the 1065. Why? … read more
Lane
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I don't qualify for having to include figures in box 17A on
i don't qualify for having to include figures in box 17A on my 1065 K-1's, but … read more
Carter McBride
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I use Drake Software and I have following codes in Schedule
I use Drake Software and I have following codes in Schedule K-1 form 1065 that I do not know where it will go because they are not on the software. Can someone help:Schedule K-1 1065 Part IIIBox 11 Co… read more
Anne
Anne
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I have a C Corp (filing 1120) that received a K-1 from a
I have a C Corp (filing 1120) that received a K-1 from a partnership. I understand that income and loss would be reported on lines 10 and 26, respectively. Where do items from boxes 12 (section 179 de… read more
Mark Taylor
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I opened a new LLC in NJ on 11/2015. 2 member, husband and
I opened a new LLC in NJ on 11/2015. 2 member, husband and wife. No income in 2015. I bought a small office space, transaction closed in Feb 2016. Do I need to file any taxes in 2015? … read more
Mark Taylor
Mark Taylor
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Looking at tax returns where I'm missing the actual
Looking at tax returns where I'm missing the actual k-1's, and I'm trying to figure out how much I received (as opposed to losses and income). The actual dollars received. I have all my old returns. I… read more
Mark Taylor
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I am in an LLC with a partner and the company is only 3 years
I am in an LLC with a partner and the company is only 3 years old. The business is in Real Estate Rental (we rehab blighted property and rent it out). In the last year or so, we have issued Quit Claim… read more
Lane
Lane
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Doctoral Degree
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My name's ***** ***** and I just need to know why 17a is
My name's ***** ***** and I just need to know why 17a is showing up on the K-1 … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,858 satisfied customers
I formed a partnership in 2015. We have received a 1099 DIV
I formed a partnership in 2015. We have received a 1099 DIV showing dividends and interest income, along with capital gain distributions. I don't know what line or schedule to show that on.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
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We have a small horse breeding farm operation. past tax
We have a small horse breeding farm operation. For our past tax returns we submit Schedule Fs as a partnership. For 2015 we are no longer pursuing this operation. How do we treat this on the 2015 tax … read more
Stephen G.
Stephen G.
Sr Income Tax Expert
Bachelor's Degree
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I started a corp as a wrapper around real estate. It is
I started a corp as a wrapper around real estate. It is registered in the state as a corp in good standing. This will be our first tax year. The mortgages and everything else is still under my persona… read more
Megan C
Megan C
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Master's Degree
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I was hired and given 5% partnership of a business a friend
I was hired and given 5% partnership of a business a friend started. I am managing the business. The Attorney wants the 2553 form or the 8832 form back for filing. I want to ensure I protect myself wi… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Hi Stephen, My husband and I short-sold a property in 2012
Hi Stephen, My husband and I short-sold a property in 2012 which was owned by our LLC for personal liability protection. The LLC received a 1099-S, but has been inactive. Can I just report the 1099-S … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,858 satisfied customers
Partnership/S Corporation/Late K-1 - Filing Amended Returns
This is a complicated partnership/S corporation tax question. My question relates to refund claims/amended returns arising from a late issued Schedules K-1 from an LLC taxed as a partnership (Form 106… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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1065 and k1s for an OR LLC which owned an airplane
1065 and k1''s for an OR LLC which owned an airplane since 2003. Filed annual returns showing no income or deductible expenses. In 2007 we sell the only asset - the plane. Sale price is less than it w… read more
RD
RD
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Master's Degree
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I recorded the purchase of a rental incorrectly ...
I recorded the purchase of a rental incorrectly (understated the asset value) by deducting the cost of the land twice. The house is understated by 32,000; depreciation is computed on 27.5 yrs. How do … read more
Lou
Lou
High School or GED
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Ralph was paid a salary of $64,600 during 2008 by Odesto, ...
Ralph was paid a salary of $64,600 during 2008 by Odesto, Co. During the year, he started his own business as a CPA and reported a net business income of $48,000 on his income tax return for 2008. Com… read more
Anne
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