Lucho

Well I did it. and let see what happens. Thank Eric. Lucho

Now I know. Thank you Jack. Lucho

I think that Microsoft edge is giving me a hart time with windows 10. How can I go back to just the plain IE 11 or the newest version? or are we all hooked up with the "Edge"? I was out of the country for six months without any problem, but as soon as I landed back in the US my computer acts very slow or freezes. Firefox is also slow. I downloaded Google Chrome and it made things even worse. I going back to where I was but I prefer to fix it before I leave again the US. Thank you for any idea I can get to fix my problem. Lucho

How do I find the way to make the computer recognize my sd card, CDs and my external hard drive? (now that I downloaded Windows 10) It looked easy the first time I inserted the SD card to see my pictures and I have to call someone to tell me how to eject it which he was able to help me. the next time I tried again with the SD card, the system will not recognize anything like SD card, CDs or my external storage drive. Can someone please help me. It might be something easy but I don't have any idea so far. thank in advance.

Actually, it looks like the fax number listed is not a fax but a normal phone line. I tried several times last night without any success. The answering system said to call tomorrow.

Thank you very much Elrod. Lucho

What is the fastest way to change my address with the Office Of Responsibility, I am in a big hurry, and I will appreciate any help. I am leaving the country for some time. I am changing all addresses, but need help specially with this institution. I am an E.A. Thank you for any help. Lucho

Thank you for your post, it is very helpful. Lucho

1- Investment vehicle, REIT 2- No K-1 3- He was receiving interest only Thank you Lucho

My client invested some cash in year 1999 and was collecting a profit from the investment (no return of capital) every year until 2008. The investment company which hold my client money declared bankruptcy. During the course of business, the investment company invested funds in real estate; after the bankruptcy, the trustee sold the properties and my client received a 1099-S that shows the gross proceeds (my client's share of the proceeds) in box 2 and the description of the property in box 3 and escrow number . Am I right if I use Form 4797 and use the original cash investment from year 1999 as the basis to figure out the loss of my client investment (proceeds is almost half of investment? and keep the 1099-S as a reference of support for the IRS. I have not being able to find another way around, so, I am begging for help. Thank you in advance. Lucho

Thank you Lion. I appreciate your post Lucho

Thank you very much. Lucho

C corporation or S corporation Lucho

If a single or multiple LLC wants to be treated as a Corporation for tax purpose, what extra paper work would be needed besides the LLC documents. I just want to be ready to answer basic tax question and documentation that will be required to form the business my client is in the process to open (A bicycle shop). I know he will need a lawyer to draft the paperwork but he wants to have a consultation with me before. he has been an employee for about 20 years in the same field. Thank you for any help. Lucho

Jack, This is what I have done: I disposed of the property in the disposition information of fixed assets worksheet. The basis of property when placed in service was $178,600 less depreciation of $40,496 (which I believe will be the recapture) gives a new adjusted basis of $138,104 at the time the bank took possession of the property; the basis for the land is $65,900. Adjusted basis of the house $138,104+$65,900(adjusted basis of land), gives a total basis of $204,004. $204,004.00 property adjusted basis $182,887.00 Amount shown in box 2 form 1099-A $21,117.00 Loss This is how I get the loss. What do you think? Jack. Thank you very much for your advice. Lucho