Announcement

Collapse
No announcement yet.

Gas Lease

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Gas Lease

    Taxpayer has good luck and gas company pays them 300. per acre to lease for oil and gas. Would this sch e income disqualify from eic.

    #2
    Only if they have 9.7 acres or more.
    JG

    Comment


      #3
      Where Did

      You Find This 9.7 Acres Info

      Thanks

      Comment


        #4
        Sorry, just joking. 9.7 times $300 = over the investment income limit. I have a strange sense of humor.
        JG

        Comment


          #5
          There might be a way with 9.8 acres

          Originally posted by JG EA View Post
          Sorry, just joking. 9.7 times $300 = over the investment income limit. I have a strange sense of humor.
          Part of the property tax and/or mortgage interest might reduce the net income to less net investment income.

          Comment

          Working...
          X