Looney1966
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Yes, i started this in 2012, so you are saying that the entire $22K that I get is 100% long term capital gain. Correct?
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If your basis exceed the basis does that get picked up on the S Corp or flow through to the shareholder?
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Do these deductions get deducted from my Sch F or as an itemized deductions on Sch A. I believe we could use the FMV of the hay.
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Activity Feed for Looney1966
- Posted Re: Sale of business on Business & farm. August 26, 2024 10:03 AM
- Posted Re: Sale of business on Business & farm. August 26, 2024 10:01 AM
- Posted Sale of business on Business & farm. August 26, 2024 9:34 AM
- Posted Re: K1 for my S Corporation on Business & farm. June 10, 2024 1:18 PM
- Posted K1 for my S Corporation on Business & farm. June 10, 2024 12:10 PM
- Posted Re: Hay Donation on Business & farm. May 29, 2024 2:09 PM
- Posted Re: Hay Donation on Business & farm. May 29, 2024 12:58 PM
- Posted Hay Donation on Business & farm. May 29, 2024 10:21 AM
- Posted Re: LLC question on Business & farm. March 30, 2024 7:15 AM
- Posted LLC question on Business & farm. March 27, 2024 10:07 AM
- Posted Re: Trust Tax Return on Get your taxes done using TurboTax. March 26, 2024 9:42 AM
- Posted Trust Tax Return on Get your taxes done using TurboTax. March 26, 2024 4:16 AM
- Posted Property Sold on State tax filing. March 16, 2024 5:40 AM
- Posted Re: IL Tax Filing on State tax filing. March 13, 2024 9:23 AM
- Posted Re: IL Tax Filing on State tax filing. March 12, 2024 5:23 PM
- Posted IL Tax Filing on State tax filing. March 12, 2024 3:29 PM
- Posted Re: S Corporation on Business & farm. January 29, 2024 10:06 AM
- Posted S Corporation on Business & farm. January 29, 2024 7:57 AM
- Posted Re: S Corp limits of SEP on Business & farm. January 18, 2024 11:25 AM
- Posted S Corp limits of SEP on Business & farm. January 18, 2024 5:39 AM