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Home bought and sold for profit during 2021 by two partners. where is reported 50% of basis and gain? on personal return? 4797 has 3 options as to ownership 1, ...
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They only sold this particular property for their reasons but they're not in business buying and selling.
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Client (two member LLC) purchased a house 2021 and sold it for profit 2021.Do you report the sale proceeds as Gross Receipts and deduct expenses as COGS? and wh...
