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Client has a sale of primary residence that was converted to a rental. The eligibility test is met so client may exclude loan per section 121 up to $500k,... read more
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I need to report income from lump-sum timber payments on schedule D and am not sure exactly how to do it.
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Do taxpayers who receive K-1's from businesses whose income is generated in a different state need to file a non-resident return in that state (assuming there's... read more15 12
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I have a client that bought a large property and decided to bring on a live-innanny for their three kids since daycare would cost $75,000. The property has... read more
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Does an LLC setting up to hold an interest in a partnership generate QBI? All the limited liability company does is to report K-1 income to partners, does capit... read more
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Client passed away and all assets owned by her living trust. Only beneficiary is son who is the trustee. No need to have son named as a Person... read more0 0
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Client is a LLC with Medi in its name. The business does various skin treatments, some of them considered "Medical" i.e. micro needling. These treatments ... read more
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How does a MAC user enter information directly onto a 1099-B for the 1202 exclusion for Small Business Stock Sales? I found great instructions for NON Mac users... read more
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Hi, what's the best way to report this and which forms:Client formed LLC with another person in 2020. They had start up costs of ~$10KLLC was dissolved, and my ... read more
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Hello Quickbooks Community,Please help with a question.Does the IRS consider this a distribution?Our partnership LLC had a large amount of retained earnings. It... read more
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I purchased a home in 2007 for 775k. I lived in the home for two years. I then moved out of state but rented the property for over ten years. I just sold it for... read more
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Hi:I have a client who live in Taiwan in 2020(whole year) and work for a US company(remotely, company located in CA). does he qualify for the foreign earne... read more0 2
