JOEPCPA
Level 3
‎12-07-2019
10:39 AM
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He owns the property through his S Corp. Is that correct and isn't that just a waste of time? I pay the tax with 4708 but then get refund on IT 1040?
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Level 10
‎12-07-2019
10:39 AM
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If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.
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Level 10
‎12-07-2019
10:39 AM
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If it's an individual taxpayer I don't believe you would file form 4780 and would just file IT 1040 for a non resident.
JOEPCPA
Level 3
‎12-07-2019
10:39 AM
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Thanks, sorry I did forget to mention he owns the property through his S Corp so the 4708 is necessary.
Level 10
‎12-07-2019
10:39 AM
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Oh, okay. Then I think that is correct and yes it is a waste of time.
JOEPCPA
Level 3
‎12-07-2019
10:39 AM
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Thanks much!!
Level 10
‎12-07-2019
10:39 AM
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You're welcome.