hcjontax
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No there is no formal rental agreement to the partnership. Basically, the building title is under her name and she paid the property taxes and tax lien thru her...
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What would happen if I just estimated the value at date of gift as a couple thousand above the cost basis? What does the IRS even do with the value at date of g...
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Thank you Opus. I clarified the situation below:1.) Mother paid -$100,000 for unpaid property tax lien in 20202.) Property was not primary residence and title i...
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Thank you. On the from 709 - I know the cost basis is $120,000 but this was the 1999 purchase price. I don't have any info on the improvement costs or depreciat...
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I dont use any software, and the only record would be the cash deposits into the business checking account. There are no checks. Would that be good enough for t...
Activity Feed for hcjontax
- Posted PPP and EIDL Employee requirements on Get your taxes done using TurboTax. May 29, 2021 7:40 AM
- Posted Re: Property Tax Lien Deduction for Small Business on Deductions & credits. May 14, 2021 4:25 PM
- Posted Property Tax Lien Deduction for Small Business on Deductions & credits. May 14, 2021 3:09 PM
- Cheered Re: Transfer of Cost Basis for Gifted Real Estate for M-MTax. May 14, 2021 1:28 PM
- Posted Deducting a Property Tax Lien Payment from 1040 or 1065? on Get your taxes done using TurboTax. May 14, 2021 10:21 AM
- Posted Re: Filing Retroactive Gift Tax Return Form 709 on Deductions & credits. May 11, 2021 5:13 PM
- Posted Re: Property Tax Lien payment impact on Tax Returns on Deductions & credits. May 11, 2021 4:15 PM
- Posted Transfer of Cost Basis for Gifted Real Estate on Get your taxes done using TurboTax. May 11, 2021 2:39 PM
- Posted Re: Filing Retroactive Gift Tax Return Form 709 on Deductions & credits. May 11, 2021 9:06 AM
- Cheered Re: Filing Retroactive Gift Tax Return Form 709 for Anonymous_. May 10, 2021 4:32 PM
- Posted Filing Retroactive Gift Tax Return Form 709 on Deductions & credits. May 10, 2021 3:56 PM
- Posted Re: Cash Business Audit Risk on Business & farm. May 10, 2021 2:44 PM
- Posted Cash Business Audit Risk on Business & farm. May 7, 2021 3:30 PM
- Cheered Re: Property Tax Lien payment impact on Tax Returns for Opus 17. May 7, 2021 3:12 PM
- Cheered Re: Property Tax Lien payment impact on Tax Returns for Opus 17. May 7, 2021 3:12 PM
- Posted Re: Property Tax Lien payment impact on Tax Returns on Deductions & credits. May 7, 2021 8:59 AM
- Posted Re: Property Tax Lien payment impact on Tax Returns on Deductions & credits. May 7, 2021 7:52 AM
- Posted Property Tax Lien payment impact on Tax Returns on Deductions & credits. May 7, 2021 7:34 AM
- Posted Re: Payment of Property Tax Lien impact on Tax Returns on State tax filing. April 19, 2021 1:24 PM
- Posted Payment of Property Tax Lien impact on Tax Returns on State tax filing. April 19, 2021 12:19 PM