Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Taxpayer received large lump sum for cellular roof rights. Can this be amortized?

Taxman93
Level 2
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Solution

Accepted Solutions
IRonMaN
Level 15

I think we are going to need a little more info before we solve this mystery.


Slava Ukraini!

View solution in original post

0 Cheers
5 Comments 5
IRonMaN
Level 15

I think we are going to need a little more info before we solve this mystery.


Slava Ukraini!
0 Cheers
Just-Lisa-Now-
Level 15
Level 15
ya never heard of cellular roof rights before?      

Can you amortize income?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
IRonMaN
Level 15
Actually I read it wrong, but for the record, we don't have roof rights here.  We have enough wide open spaces that they just build a tower or pay someone else to use their tower.

Slava Ukraini!
0 Cheers
Just-Lisa-Now-
Level 15
Level 15
There's some kid of cell tower on the roof of the building my office is in, we're the tallest building in this area.....I thought the owners rented or leased the space out...seems like I remember them getting like 6000 a year way back when it was first installed.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
IRonMaN
Level 15
But back to the original question - cash basis taxpayers don't tend to amortize income.

Slava Ukraini!
0 Cheers