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Showing content with the highest reputation on 12/05/2023 in all areas
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For tax season this year I want a summary page for all of the Sch E's. Thank you, Santa.4 points
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Form 1096 is only used when you paper file the 1099s.1 point
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The start of the calm, before the storm. To all of us here, I wish some rest and clear minds in the next few weeks. (My storm is all Dec and Jan, and partial Feb.) And the will to remember the storm is what feeds us and ours, and that there is no such thing as an accounting emergency, not ever! so stick to your personal time at work ability, not a minute more.1 point
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You can do either. Each 1099 gets added to your cart, and you can check out at once with all of them. Got info for two, and that customer needs to confirm the ssn/ein or amount for the last contractor? Get the two done, go back later for the third.1 point
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That is correct, assuming he was the original sole owner of the stock and did not aquire through purchase, inheritance or gift. That is correct. Since the C-corp is a separate taxable entity, retained earnings do not change basis and are subject to double taxation. His basis equals his investment; internal transactions do not change it with a C corp.1 point
