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One would think, except $800k went to pay off loans on the property being sold, which doesn't help any of this situation at all. And you're absolutely right abo...
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So, shouldn't he get to recover the basis tax free? I think that's where I'm getting hung up. Seems like if the value of the received property qualifies as a pa...
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Client sold arena and storage units (all business real property) on 12/31/19, purchased replacement property on 2/28/20. Issue is with calculations of the gain ...
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Yep, same here. Mine failed as well, but as I told the clients, it all depends on which person gets your paperwork and how they are feeling that day. Sometimes,...
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Client and husband operated a Schedule C business until July 2019. Both turned 65 in 2019 and went on Medicare, but had ACA exchange policy with premium credits...
