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CITY OF PHILADELPHIA BIRT TAX RETURN EZ - ON THE WORKSHEET…

THIS IS REGARDING CITY OF...
THIS IS REGARDING CITY OF PHILADELPHIA BIRT TAX RETURN EZ - ON THE WORKSHEET S, THEY HAVE THE WORDS STATUTORY NET INCOME DEDUCTION, ISD THAT FOR ALL FILERS TO USE. THE WORD STATUTORY IS WHAT CONCERNED ME.
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Answered in 13 minutes by:
3/24/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
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Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Let me take a look, and I'll let you know.

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Customer reply replied 1 month ago
OK, THANKS

BIRT does not pertain to a sale of real estate, even though it was a rental property.

BIRT pertains to rental income, services performed, sales of capital assets (i.e., equipment) as a result of conducting business in Philadelphia.

The statutory exclusion is up to $100,000 for those items listed under "Gross Receipts Portion" on the form.

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,796
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Customer reply replied 30 days ago
Thanks so much

My pleasure.

Thank YOU for the positive rating of my answer. I really appreciate it!

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