scphil21
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thanks for all the help. unfortunately this is like feeding creampuffs to burros. I still don't get it.I'm going to truck with my portion of the original deprec...
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so let me know if I have this one right (sorry I'm not a cpa)For the acquired part of the LLC the cost basis is the purchase price and the basis for depreciatio...
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ok thanks Rick. It seems I'm back to the original issue of TurboTax not supporting a bifurcated depreciation schedule. :(
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Thanks Carl. When calculating the basis, do I make the prior depreciation/improvements adjustments before or after accounting for the land portion of the cost?i...
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I bought their interest, which was 33%.
Activity Feed for scphil21
- Posted Re: how to handle a mid year conversion from LLC partnership to single member LLC? on Investors & landlords. April 14, 2022 11:14 AM
- Posted Re: how to handle a mid year conversion from LLC partnership to single member LLC? on Investors & landlords. April 14, 2022 10:06 AM
- Posted Re: how to handle a mid year conversion from LLC partnership to single member LLC? on Investors & landlords. April 14, 2022 9:25 AM
- Posted Re: how to handle a mid year conversion from LLC partnership to single member LLC? on Investors & landlords. April 13, 2022 5:05 PM
- Posted Re: how to handle a mid year conversion from LLC partnership to single member LLC? on Investors & landlords. March 7, 2022 7:14 PM
- Posted how to handle a mid year conversion from LLC partnership to single member LLC? on Investors & landlords. March 7, 2022 6:30 PM