jayneway
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A capital improvement would be something you can't take with you if you sell or move ex: new roof, kitchen cabinets, water tank, furnace etc. a repair is if you...
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1099 misc. i believe in box 1 is listed as rental income whereas box 7 is misc income. make sure to put the proper amount for each box number. and go over quest...
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If it is used as rental 100% I would change to 100%
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You can keep entering in your carryover loss yearly. if in the future you have a capital gain this can be applied to it.
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I believe a program called tax advantage includes the 5471 form so I can efile. I could change next year to that program
Activity Feed for jayneway
- Got Cheered for Re: Form 5471. March 11, 2023 9:19 AM
- Posted New york state form ct-34-sh-1 How to calculate ptet taxable income? on State tax filing. March 5, 2022 10:50 AM
- Got Cheered for Re: If my income after using exemption is below standard deduction, do I still need capital loss carryover? My taxable income is already 0, deducting $3000 changes nothing.. April 30, 2021 10:36 AM
- Posted Re: Is "adding real value" actually a criterion for something to be considered a capital improvement for rental property? on Investors & landlords. April 20, 2021 12:26 PM
- Posted Re: Why is the source of my 1099 coming up as rental income when it is not rental income? on Investors & landlords. April 20, 2021 12:15 PM
- Posted Re: Should you update the business percentage for a rental property from year to year? on Investors & landlords. April 20, 2021 12:10 PM
- Posted Re: If my income after using exemption is below standard deduction, do I still need capital loss carryover? My taxable income is already 0, deducting $3000 changes nothing. on Investors & landlords. April 20, 2021 12:07 PM
- Posted Re: Form 5471 on Business & farm. April 20, 2021 12:00 PM
- Posted Re: I didn't get a W2 Form. Where does Turbo Tax ask for the income on Form 1099-R? on Get your taxes done using TurboTax. April 20, 2021 11:54 AM
- Posted Form 5471 on Business & farm. April 10, 2021 6:24 PM
- Cheered Re: Unemployment Compensation Exclusion Worksheet – Schedule 1, Line 8 for Special Ed. March 25, 2021 1:31 PM
- Cheered Re: Unemployment Compensation Exclusion Worksheet – Schedule 1, Line 8 for Steve1044. March 25, 2021 1:30 PM
- Posted You can see the NYS form 196. Go to the top left black ba... on State tax filing. June 7, 2019 4:53 PM
- Posted You can see the NYS form 196. Go to the top left black ba... on State tax filing. June 7, 2019 4:52 PM
- Posted good to hear on Business & farm. June 6, 2019 1:00 PM
- Posted Go to the k1 by on top left under view click forms, find... on Business & farm. June 6, 2019 1:00 PM
- Posted You can sell an asset from a company A and claim a loss o... on Business & farm. June 6, 2019 12:56 PM
- Posted Go to IRS.Gov a complete description is on their site on Business & farm. June 6, 2019 12:50 PM
- Posted K1 info transfer to proper forms. under view on top drop... on Business & farm. June 6, 2019 4:56 AM
- Posted go to the top under view section, under forms, click. fin... on Deductions & credits. June 6, 2019 2:45 AM