385777
I am doing my final return on my rental LLC. It asked whether I need to file a 8594? Is this required for a rental business?
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No. You just sold a single property.
Form 8594 is geared for asset acquisitions that essentially acquire the assets of a trade or business in which goodwill or other Section 197 intangible assets could be a part of the transaction.
No. You just sold a single property.
Form 8594 is geared for asset acquisitions that essentially acquire the assets of a trade or business in which goodwill or other Section 197 intangible assets could be a part of the transaction.
Are you sure about this answer? What about the sale of an apartment building where you have a laundry room with washers and dryers, apartments where you provide a fridge, dishwasher, AC, etc. These aren't single asset sales. I don't want to file it but seems like its necessary especially if I, as a buyer, want to do a cost seg survey.
You've posted on an old thread @hlb0103. Please post a new question so that we can assist you.
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