Partnership K-1 capital accounts are supposed to shown on a tax basis this year. The total of the capital accounts flow into the balance sheet which is on a boo...
Since the estate is a net loss why can't I have the estate pay any income tax which in this case is zero?
I need to file a 1041 for a client that had to go through probate. He capital gains of $7,000 and attorney fees and fiduciary fees of $12,000. Thus the estate h...