They claim they can provide the paperwork but before I agreed to anything I wanted to get some advisement on the process or forms needed to be filed on the amended return
Yes. It is weird because I didn't have any trouble yesterday with efiling federal and state together. Now only my federal show up unless I do a client search
Thank you to everyone who offered a suggestion. I understand this is an unusual situation and was probably not handled properly from the time the mother added the kids to the deed on the rental prop...
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Thank you to everyone who offered a suggestion. I understand this is an unusual situation and was probably not handled properly from the time the mother added the kids to the deed on the rental property. I just wanted to see how to report the sale of the property so everyone pays their share of gains. Thank you for the suggestions.
If it was a gift twenty years ago, do I just report the proceeds from the sale on a 4797? This is the first time I am dealing with this situation so I just want to make sure I am doing things correc...
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If it was a gift twenty years ago, do I just report the proceeds from the sale on a 4797? This is the first time I am dealing with this situation so I just want to make sure I am doing things correctly. Sorry for all the questions. I appreciate the input.
It was initially the mother's rental property. Then 20 years ago she added her kids to the deed. Now the rental is sold and each of them received a 1099S. I was just not sure it gets reported on ea...
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It was initially the mother's rental property. Then 20 years ago she added her kids to the deed. Now the rental is sold and each of them received a 1099S. I was just not sure it gets reported on each of the tax returns. If they have been on the deed for 20 years is it still a gift since they are part owners of the rental?
How do you file a 1099 Nominee? I believe the kids were added in the event the mother passed. The checks were kept by the kids and one went to the mother. So all four individuals now have 1099S for...
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How do you file a 1099 Nominee? I believe the kids were added in the event the mother passed. The checks were kept by the kids and one went to the mother. So all four individuals now have 1099S forms and the rental is on the mother's return.
Thank you. The equipment was $25,000 and I thought about breaking it up amongst the 9 properties. Could it just be written off then if each property gets $2777.78 or does that still get depreciated?