YUKEM68

Taxpayer works in Ethiopia for the whole year for a US company. No other income reported. He was in US for aprox 30 days in 12 months for training. On form 2555 Part III Line 16 for physical presence test do I have to count those days being on training as days being outside of Ethiopia? I am not sure. Please help me with your thoughts! Thanks

To make it more complicated she had 7 buildings involved and the basis is low because she took over this basis thru like kind exchange. The accumulated depreciation is high because of the value of the buildings are high what she aquired thru like kind exchange. Now she quit claimed all these buildings to her son with no money exchange. I will file a gift tax return for her. I have no idea what to do with all accumulated depreciation....

I am still having fun with this return. Taxpayer gifted over all her rental properties to her son. Her adjusted basis was only $31000 on those buildings. I will identify that on GIft tax return as a donor's adjusted basis. She was reporting rental income as a lessor of the real estate for 4 years. The depreciation adds up to $53000 dollars for all those years. What should I do with that depreciation. Will that become an ordinary income for her this year? Depreciation is more than the adjusted basis. Please help me to figure out what to do with this depreciation....Thanks for any response!

My client sold a rental building in 2003 and purchased 5 rental condos. Deffered gain 497K on form 8824. In 2007 she quit claimed all of these condos to her son with no money exchange! How would you treat this transaction ?? Plese help me with your thoughts!! Thanks

Thank You for your help!

MY CLIENT MOVED TO ARIZONA MID YEAR. THEIR ONLY INCOME IS RETIREMENT AND SOCIAL SECURITY. ON FORM 140PY LINE B15 IT SHOWS AS OTHER INCOME. SHOULD I SHOW THIS INCOME AS ARIZONA INCOME TOO FOR HALF A YEAR? IT IS NOT EARNED INCOME. IT IS A RETIREMENT. I AM CONFUSED. THANKS FOR YOUR HELP!

Thank You for your help!

PLEASE LET ME KNOW DID YOU EVER HEAR SOMETHING ABOUT GETTING EARNED INCOME CREDIT WITH CERTAIN DISABILITY INCOME? WHAT DISABILTIY INCOME THAT WOULD BE? I TRIED TO READ A PUBLICATION AND FOUND NOTHING. THANKS JULIE