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Defining Passive Activity Between Spouses – Beyond the Bedroom: What Is Material Participation?

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

Defining Passive Activity Between Spouses - Beyond the Bedroom: What Is Material Participation? Ha! One would imagine this is the script to a low budget B-rated film by the title, it is not. But if it got you reading all

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Posted in Material Participation, Passive Activity, Rental Real Estate, Sub-chapter S, Tax Guidance & Preparation, Tax Preparer

Grouping Passive Activities – IRS Rev Proc 2010-13

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

This new IRS Revenue Procedure is hugely important. Beginning in tax years after 1/24/2010 the IRS is requiring a written statement to accompany the tax return that lists how passive investment activities are grouped. The statement must include your name,

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Posted in Passive Activity, Rental Real Estate

Grouping Passive Activities – IRS Disclosure Rules

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

As part of the IRS's continuing efforts to require greater disclosure of tax positions and strategies on returns, it recently released new, mandatory disclosure rules for grouping passive activities. Rev. Proc. 2010-13 for the first time mandates that passive-activity groupings

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Posted in Appeals & Audit Resolution, Asset Classification, Cost Segregation, Passive Activity, Rental Real Estate, Tax Deductible Expenses
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