Anglis
Level 3
01-14-2020
03:38 PM
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What I am looking for is what is the best way to treat the $2000 monthly income paid to father on his personal tax return. I don’t want to complicate this.
The son and partner do the business now as a new business, default to partnership. So the monies being paid to related party should be their capital investment basis, am I wrong here?
The son and partner do the business now as a new business, default to partnership. So the monies being paid to related party should be their capital investment basis, am I wrong here?