turbotax icon
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Maxtax899
Level 2
Member profile
Latest badges earned
  • Thank you ThomasM135. That was a great explanation. I think I get the general idea. Like you said it's not an exact science.
    Maxtax899
    Updated Apr 05, 2023
  • Ok. Thank you PatriciaV. I am seeing some light now! I did not capitalize these tools for depreciation on a previous tax return. They were all written off as a ...
    Maxtax899
    3
    Updated Apr 08, 2024
  • Thank you! Turbotax Business is asking for me to attach a statement regarding the property portion of my distribution. The one thing I am struggling with is "Th...
    Maxtax899
    5
    Updated Apr 08, 2024
  • Thank you, it's starting to fit together. Does the fair market value fit in with the "cost less depreciation"? The depreciation part for the corporation basis i...
    Maxtax899
    2
    Updated Apr 05, 2023
  • Thank you ThomasM125. That is a huge help! Is there a simple way to explain "The corporations basis in the property"? I do appreciate it!
    Maxtax899
    4
    Updated Apr 05, 2023
Activity Feed for Maxtax899
Membership stats