Capital Loss Archives - John R. Dundon II, Enrolled Agent
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Capital Loss

19 Jan

Posted at 00:00h in Accounting Method, Asset Classification, Basis, Business Expense, Capital Gain, Capital Loss, Cost Basis, Cost Segregation, Deductible Expense, Depreciation, Tax Guidance & Preparation

Back in June 2014 I blogged about the new IRS Regulations governing tangible personal property. These regulations prompted a vigorous debate over the last 7 months between the most astute students of the US Tax Code as to what constitutes the need to file IRS...

29 Oct

Posted at 00:00h in Business Expense, Business Income, Business Structure, Capital Gain, Capital Loss, Employment Tax, Limited Partnership, LLC, Net Operating Loss, Partnership, Self Employ, Small Business, Sole Proprietor, Start up costs, Sub-chapter S, Tax Guidance & Preparation

What I love most about Colorado, more than the 300+ days of sun every year and the glorious rocky mountains, are the people.  For the most Coloradans are risk taking job creators, starting new businesses from scratch out of their garages and turning passions for...

07 Oct

Posted at 00:00h in Rental Real Estate, 1031 Exchange, Basis, Capital Gain, Capital Loss, Depreciation, Passive Activity, Tax Guidance & Preparation

How to Calculate Basis of a Primary Residence Converted to Rental Property [Reg. §1.168(i)-4(b)] [Reg. §1.165-9(b)(2)] can be a nuanced and complicated question to answer as it depends on a handful of specific facts and circumstances.  Many people have built impressive residential real estate portfolios...

31 Jan

Posted at 00:00h in 1031 Exchange, 1231 Exchange, Capital Gain, Capital Loss, Investment Income, Like/Kind Exchange, Limited Partnership, Partnership, Passive Activity, Tax Guidance & Preparation

Tax Implication of Publicly Traded Partnerships: Why Purveyors or the US Tax Code Snarl at Investment Brokers. My friend Roger Botterbusch recently put together a most excellent presentation on the tax implications of owning Publicly Traded Partnerships (PTPs), also commonly referred to as Master Limited Partnerships (MLPs)....

25 Jul

Posted at 00:00h in Accounting Method, Business Expense, Capital Gain, Capital Loss, Cost Basis, Investment Income, Mark to Market, Paying Taxes, Self Employ, Tax Guidance & Preparation

If you are an individual who buys and sells securities you may qualify as a “trader in securities,†for tax purposes. This post attempts to explain how traders must report the income and expenses from being in the trading business. First though it is important to...

07 Jun

Posted at 00:00h in 1031 Exchange, 1231 Exchange, Basis, Capital Gain, Capital Loss, Like/Kind Exchange, Sub-chapter S, Uncertain Tax Position

Check out the following 5 lessons I learned this week regarding IRC 351 nonrecognition transactions: 1. The basis assigned to stock received generally is the same as the basis in the property transferred to the corporation. If however you also receives boot from the corporation your...

04 Jun

Posted at 00:00h in Abusive Tax Shelter, Basis, Boot, Capital Gain, Capital Loss, Cash Transaction, Deductible Expense, Distributions, Tax Guidance & Preparation

According to IRC 357(a) if property transferred to a corporation in an IRC 351 nonrecognition transaction is subject to a liability, the assumption of that liability by the corporation generally is not treated as taxable "boot" for purposes of determining the amount of any taxable gain on...

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