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- tax question to determine amount of income to report
tax question to determine amount of income to report
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Donna
Level 1
06-24-2019
09:26 PM
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Have have UCC balance for Class I property and Class 2
UCC for class I $236.399
UCC for Class 2 $ 130,307
During 2018 they were upgrade to the two properties
would require 40,000 for propery 1 and 60,000 for propery 2
As a result decided to inprove property 2 and sold it for $488, 000
Fair market value for land was 120,000 and building 328,00 0
plus interest at 10% computed semi annually
there were combined payments received in June 2018 and september 2018 for 11,233 each and December 2018 through May 2018 inclusive will be 10,733 each. How do I determine what to report for 2018 income?
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1 Comment 1
IntuitAustin
Intuit Alumni
06-27-2019
09:24 AM
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Anything you can contribute here @itonewbie ?
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