LynnN82
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CPA
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Sale of working interest in an Oil and Gas lease is a sale of the well equipment, which is personal property, and an interest in the lease which isreal property...
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No, the cost basis of the land is not a percentage of the total basis. Rather, that basis should be established when the property is acquired(or "as of" that da...
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You will need to pay a license fee, along with Form 568 for each year. Information for the Form 568 will come from your federal Form 1040. Everything you nee...
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Yes, if you were a U.S. resident, working and receiving a Form W-2 with income tax withheld that will be refunded if you file a return, you should. If the incom...
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That withdrawal will not be subject to the 10% penalty for early withdrawal and, if you need it, up to three years to pay any additional income tax liability. ...
Activity Feed for LynnN82
- Posted Re: Sale of Working Intertest in Oil and Gas on Business & farm. January 24, 2021 4:12 PM
- Posted Re: How to properly Enter sale of a rental property on Investors & landlords. January 24, 2021 4:07 PM
- Posted Re: I have a LLC in California and my previous CPA did not file my form 568 so the California Tax... on Business & farm. January 24, 2021 1:57 PM
- Posted Re: I had returned to my home country in 2019 and I have received a W2 for 2020 with federal tax ... on Deductions & credits. January 24, 2021 1:03 PM
- Posted Re: 1099-R Disaster on Retirement tax questions. January 24, 2021 9:32 AM
- Posted Re: Record your actual out of pocket costs as if it was cash/... on Education. January 24, 2021 9:19 AM
- Posted Re: Said I registered a vehicle last year when I actually did it the year prior on Deductions & credits. January 23, 2021 3:32 PM
- Posted Re: I am flipping a property on Deductions & credits. January 23, 2021 3:28 PM
- Posted Re: I don't understand charitable carryovers. If I didn't itemize past years, I can claim charita... on Deductions & credits. January 23, 2021 3:14 PM
- Posted Re: Are there new rules for charitable donation deductions in the stimulus (CARES) package? on Deductions & credits. January 23, 2021 3:02 PM
- Posted Re: How to fill out the IRA traditional and ROTH portion? on Retirement tax questions. January 23, 2021 2:56 PM
- Posted Re: Rental property (converted from primary residence) on market starting Aug ‘20. I didn’t find ... on Deductions & credits. January 23, 2021 2:52 PM
- Posted Re: Why do I have to fill out form 8995 on Retirement tax questions. January 23, 2021 1:24 PM