taxes4sumting
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don't know if this helps but the E&P amount is used to determine if distributions are taxable or not.....if E&P is less than a distribution, then it's not taxab...
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there are 2 safe harbor elections but you'll probably just want to write that stuff off immediately.....special depreciation allowance....because $1500 is not e...
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Cap loss is carried over to following years until offset or used up....$3k per year against other income.....you need to know your total investment in the partn...
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Looks to me like you'd net the rental income on Box 7 and the Box 9 directly apportioned deductions and then enter the sum of the 2 on Line 8 on the ID return -...
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No offense but this is a mess and you need a tax pro to sort this out. The step up in 2017 'due to beneficiary inheritance' is not at all clear and does change ...
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- Got Cheered for Re: Added a new air conditioner to a rental property. March 16, 2021 12:01 PM
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- Posted Re: Retained earnings vs accumulated earnings on Business & farm. July 12, 2020 2:17 PM
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- Posted Re: Final K1 with Capital loss, but no current year activity on Business & farm. July 12, 2020 10:20 AM
- Got Cheered for Re: Filling Out Idaho (ID) K-1 - Where to enter Depreciation?. July 11, 2020 12:21 AM
- Got Cheered for Re: Commercial property depreciation. July 10, 2020 10:49 PM
- Posted Re: Filling Out Idaho (ID) K-1 - Where to enter Depreciation? on Get your taxes done using TurboTax. July 10, 2020 4:35 PM
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- Posted Re: Special Needs Trust Distributions on Deductions & credits. July 9, 2020 7:17 PM
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- Posted Re: Added a new air conditioner to a rental property on Investors & landlords. July 8, 2020 11:24 AM
- Posted Re: Do i have to fill out a state form from the other state i sold a house in? there were no gains made on Investors & landlords. July 8, 2020 11:00 AM
- Posted Re: Deducting 1231 loss from income on Investors & landlords. July 8, 2020 10:58 AM
- Posted Re: 1099 for deceased on Get your taxes done using TurboTax. July 7, 2020 12:46 PM
- Posted Re: Commercial property depreciation on Get your taxes done using TurboTax. June 30, 2020 6:51 PM
- Posted Re: IRC Section 172 (b) (3) carryover election on After you file. June 29, 2020 11:25 AM
- Posted Re: partnership K-1 on Business & farm. June 29, 2020 11:22 AM
- Posted Re: Our partnership invested in a start-up in 2015, it abruptly closed in 2019 issuing no 1099 or K-1. How do I report the loss on our 2019 partnership return? on Business & farm. June 29, 2020 11:20 AM