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TP is middle to upper 6 figure AGI. Has been a long time. TP is 72.TP's daughter got divorced. The daughter is 52. Lower-incomemy area (maybe 30k).TP purchased ... read more
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A husband and wife are 50/50 owners of an S-Corp. The husband actively participates and runs the business. The wife is not listed as an Officer, but is listed a... read more
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A builder buys a property, demolishes the house on it and then builds a new house which is sold. Can the original purchase expenses be included in the basis of ... read more
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1. A taxpayer tore down his principal residence and built a building with 6 condos in its place. If she sells all 6 condos, is she eligible to take the home exc... read more
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I have a client, retired couple, that purchased and installed solar panels under the understanding that they would receive a discount on their note due to a tax... read more1 3
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Greetings,I had an Individual client defer gains into a Qualified Opportunity Zone in 2018 that were passed through via a Partnership K-1I did not complete form... read more1 1
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I have two clients who co-own 3 rental properties 50/50 (originally were MFJ, but divorced along the way and split ownership half ways). In late 2020, they deci... read more
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Good morning all,Here's the case: My clients are MFJ and have a parent/child LLCs structure for real estate purposes. They are equal members in their holding co... read more3 7
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I have a taxpayer with zero income and one child. Does she qualify for child tax credit?5 1
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A client used to prepare her own taxes using turbotax. For 2018 tax year, she decided to split her income by filing two separate taxes upon the advise of a trus... read more
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An LLC with two members files taxes as a partnership. We are just now preparing and filing 2016 tax returns and have discovered the two members paid themselves ... read more
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First time with foreign beneficiaries on an estate. How are Canadian beneficiaries to an estate entered into the Form 1041 and will correct withholding amounts ... read more
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my client sold his practice that included goodwill and patient records on installment agreement, these are both section 197 business intangibles. What do i use ... read more13 11
