joe

A NOL incurred on the taxpayer's 2010 Form 1040. Am I correct in thinking I can only carry it back two years (2008) not 5 years?

Does any one know what the following rejection means? "the filers SSN has already been used as a filer's SSN on another return"

I am preparing a 1041 Grantor Trust. I cannot get the Grantor letter to print. Any suggestions?

Does the appreciation of a 1099Q have to be inckuded in state income, more specifically NJ

be careful here. sometime the IRS can argue that if one is active, it automatically makes the spouse active as well

If a taxpayer, who is clearly a real estate professional, recieves and reports his commission on his single memeber llc (schedule C), with profits being subject to SE tax. If he receives several K-1's for other Real Estate partnerships he is involved in, can he use those losses to offset his self-employed income for SE tax purposes?

1250

Then is it subject to recapture rules if purchased in 2008 and was depreciated over 39 years straight line?

If in fact a commercial building is considered 1250 property, if it was placed in service in 2008, using straight line over 39years, is it subjectject ot the depreciation recapture rules?

Very confusing

Thanks

I am confused on this. Exactly what property is a commercial rental? Section 1245 or 1250.