A few questions:
Your facts don't make sense. Why are you receiving a K-1 if you indicate "I don't own any shares"?
If you don't own any shares, what is the ba...
@wufibugs
While you are not able to have zero capital gains tax rate, I'm fairly certain that you would be in the 15% tax rate; income doesn't exceed $492,300.
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A few comments here:
In general, a LLC cannot be a shareholder of an S corporation since a company (LLC) is not an eligible shareholder.
However, there is an e...
What are you confused about?
The information provided reflects the correct depreciation method; 27.5 years, SL and MM.
What is the cost basis of the asset and w...