Milgard
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Dave...that is definitely a wrong answer. Easements are not taxable.
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I agree, it shouldn't affect the capital balance, but the entry automatically causes the capital balance to change in Turbo Tax. The schedule L and schedule M-1...
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I don't get your answer. Where does the other part of the entry go?I received cash, so cash goes up. The asset value goes down. Where does the other half of the...
Activity Feed for Milgard
- Posted Re: I received and easement payment and reported it as a debit to cash and a credit to the land v... on Get your taxes done using TurboTax. February 21, 2025 8:24 PM
- Posted Re: I received and easement payment and reported it as a debit to cash and a credit to the land v... on Get your taxes done using TurboTax. February 16, 2025 7:14 PM
- Posted Re: I received and easement payment and reported it as a debit to cash and a credit to the land v... on Get your taxes done using TurboTax. February 9, 2025 12:55 PM
- Posted I received and easement payment and reported it as a debit to cash and a credit to the land value. Why is it showing as a reduction of partnership capital in turbo tax? on Get your taxes done using TurboTax. February 8, 2025 8:11 PM