Forbes9mon
The BBA Partnership Audit Rules—Form 8082 And Inconsistent Reporting
Example. Michael is a partner in Partnership, LLC, a BBA partnership. Michael receives a Schedule K-1 that reports $100,000 of ordinary flow-through income. If Michael reports only $50,000 of ...
The Tax Adviser5y
Partnership and LLC Taxation
IRS permits certain partnerships to file superseding partnership returns The IRS is permitting certain partnerships that timely filed their tax returns for the 2018 tax year an extension of time to ...
Hosted on MSN4mon
Are There Tax Benefits to an LLC?
The LLC is a sort of hybrid between a sole proprietorship or partnership and a corporation ... and issues each member a Schedule K-1 (Partner’s Share of Income, Deductions, Credits, etc.). The ...
The Tax Adviser1mon
Partnership and LLC Taxation
This article reviews how depreciation from a partnership is allocated between a trust and its beneficiaries and highlights the potential trap the allocation can cause when the depreciation deduction ...