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ONLY, Does line 20AH on Form 1065 affect the tax return at
This question is for taxmanrog ONLYHi Roger,Does line 20AH on Form 1065 affect the tax return at all for tax year 2019. (I am working on 2019 Form 1040) ? See attach K-1 my client received. There is a… read more
taxmanrog
taxmanrog
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ONLY Distribution in excess basis treat as capital gain If I
This question is for Taxmanrog ONLYDistribution in excess basis treat as capital gainIf I treat the distribution as capital gain (the excess basis amount) I don't think I need to put the distribution … read more
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ONLY IRS regs. Sec 1.1368-1(g) Refer back to the previous
This question is for Taxmanrog ONLYIRS regs. Sec 1.1368-1(g)Refer back to the previous question, see attach. How do you determine the "Date of qualifying disposition"? Example, if the new shareholder … read more
taxmanrog
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ONLY Close the book for Sec 1.1368-1(g) purpose "The S-corp
This question is for Taxmanrog ONLYClose the book for Sec 1.1368-1(g) purpose"The S-corp would basically "close" its books at that time an allocate income equally to A and B. Then for the remainder of… read more
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ONLYWhen is the best time to add the new shareholder in the
This question is for Taxmanrog ONLYWhen is the best time to add the new shareholder in the S corpCurrently the S corp has two shareholders , ownership (50/50). They want to add a shareholder in The S … read more
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taxmanrog
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ONLY Is there a input field in Lacrete for Line 20AG (gross
This question is for TaxManRog ONLYIs there a input field in Lacrete for Line 20AG (gross receipts for section 59A (E) see attach K-1. I cannot find it on Lacrete. This K-1 is own by the S corporation… read more
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ONLY health insurance penalty I have a client who is
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ONLY Net election for form 1040NR from a partnership, I
this question is for taxmanrog ONLYNet election for form 1040NR from a partnershipRoger,I thought I understand but I am not sure. This is the question I ask you earlier. The partnership own by two can… read more
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Partnership K-1 this question is for taxmanrog ONLY Which
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Lane: Further to my question yesterday about form 1065. I
Hi Lane: Further to my question yesterday about form 1065. I have another question for yet a separate 1065 return that I am going to do this weekend. It had 3 partners at 33.33% each. On Oct 1, 2018, … read more
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The safe harbor election pursuant to IRS notice 2019-07 This
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What are the equity accounts for a MMLLC taxed as an S-Corp?
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Lev, thank you for answering all my questions to date - here
Hi Lev, thank you for answering all my questions to date - here is another one for your expertise.I have a client with multiple LLCs which have all been elected to file as 1065 partnerships with her a… read more
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What are the logistics when making a section 1377(A)
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In tax year 2012 when making an irc sec 1377 a 2 election
in tax year 2012 when making an irc sec 1377 a 2 election involving an s corporation with 2 share holders how does this work logistically on the 1120s? A)will there be 2 1120s filed? 1 for the time pe… read more
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Is section 1377 still in effect as regards electing to close
Is section 1377 still in effect as regards ***** ***** close an S corporation tax year as opposed to weighted average method when 1 shareholder sells out completely? If the "2 tax years" is elected wh… read more
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curious, if an s-corp is bringing in a new shareholder, does
curious, if an s-corp is bringing in a new shareholder, does a new 2553 form need to be filed?… read more
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An S corp has accumulated E&P from when it was a C ...
An S corp has accumulated E&P from when it was a C corp. Distributed these as a taxable dividend distribution to the shareholders. Is this a qualified dividend to the shareholder or just an ordinary d… read more
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