Search Result

Collapse
2 results in 0.0016 seconds.
Keywords
Members
Tags
partnership return
  •  
  • Quattes
    started a topic Partnership with loss and section 179 deduction
    in Main Forum / Tax Discussion

    Partnership with loss and section 179 deduction

    Hello,

    I am working on a cash basis partnership return (2 partners 50/50 that materially participated) and have a question. The partnership has a net loss of $4k prior to a section 179 deduction of $9k. I know the section 179 deduction is disallowed for the partnership and carried forward to future years due to business income limitation,...
    See more | Go to post
    Last edited by Quattes; 02-19-2016, 09:04 PM. Reason: Spelling
    • Openfire
      started a topic Proseries Partnership return
      in Main Forum / Tax Discussion

      Proseries Partnership return

      I just completed a 1065 for an LLC with two partners. I see that the guaranteed payments to partners will correctly be subject to Self-Employment tax. However, the Ordinary Business Income is only on line 1. The CPA last year also put each partner's amount as subject to Self-employment. I went through the forms etc., and would need to override...
      See more | Go to post
      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...