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By Gary Bode CPA, on September 20th, 2014% The tax reporting rules for rental property cancelled debt sometimes confuses landlords. Preparing Schedule E isn’t enough when you have a rental property foreclosure. I offer a free consult on rental property issues, including Form 982. (910) 399-2705.
Schedule E CPAs work with rental property cancelled debt and Form 982 daily. And, of course, . . . → Read More: Schedule E CPA offers tips on rental property foreclosures | rental property cancelled debt | Insolvency and Discharge of qualified real property business indebtedness exclusions on Form 982 |IRS Form 1099-A and Form 1099-C
By Gary Bode CPA, on August 16th, 2014% I’ll address common misconceptions about cancelled debt tax reporting, Form 1099-C, Cancellation of Debt, and Form 982, Reduction of Tax Attributes. I offer a free debt cancellation consult. (910) 399-2705.
As a Form 982 CPA I’ve talked with hundreds of Folks dealing with a Form 1099-C, Cancellation of Debt, so far in 2014. Probably . . . → Read More: IRS tax Form 982 CPA tax accountant discusses Form 1099-C, Cancellation of Debt
By Gary Bode CPA, on January 26th, 2014% Hi, I’m a Form 1099-C CPA discussing tax consequences and tax reporting rules for student loan cancelled debt. Common terms for it include student loan forgiveness, student loan cancellation and student loan discharge.The obligation to pay the student loan disappears, usually when the taxpayer becomes disabled. Generally the lender issues a Form 1099-C, Cancellation of . . . → Read More: Tax Consequences of Student Loan Forgiveness, Cancellation and Discharge | Insolvency, Form 982 and Form 1099-C
By Gary Bode CPA, on January 26th, 2014% Here are a fe tips on using the IRS Insolvency Worksheet and the Insolvency exclusion of Form 982. Need help with your cancelled debt tax return? Call (910) 399-2705 for a free consult.
As a Form 982 CPA I field lots of calls about the IRS Insolvency Worksheet. So I’ll offer an over view . . . → Read More: Form 982 CPA discusses the IRS Insolvency Worksheet | Form 1099-C tax reporting
By Gary Bode CPA, on January 25th, 2014% Here’s a bad example of IRS Form 982 tax preparation involving Form 1099-A
Form 1099-A CPAs sometimes end up amending past cancelled debt tax returns. I hear lots of confusion about Form 1099-A, Acquisition or Abandonment of Secured Property, through free consults, new Clients, website comments and other tax preparers.
I’m not implying I . . . → Read More: Form 1099-A CPA discusses an amazing Rental Real Estate Cancelled Debt case | Form 1099-A, Acquisition or Abandonment of Secured Property, leads to $250,000 NOL
By Gary Bode CPA, on January 2nd, 2014% Gary Bode, CPA: you don’t always need a CPA to deal with Letter 566(CG) or Notice CP2000. But if you do, consider calling us for a free phonce consult at (910) 399-2705.
IRS Letter 566(CG) and IRS Notice CP2000 arrive by non-certified US mail. Both mark the start of an IRS correspondence audit. Correspondence . . . → Read More: IRS Letter 566(CG) CPA offers Information on IRS Correspondence Tax Audits | IRS Notice CP2000
By Gary Bode CPA, on December 28th, 2013% I’m seeing more S Corporation IRS Form 1099-C(s), Cancellation of Debt. (910) 399-2705.
As an S Corporation CPA and cancelled debt sub-specialist, I’m seeing more S Corporation Form 1099-C(s), Cancellation of Debt, probably as delayed fallout from the Recession. The tax treatment of S Corporation cancelled debt isn’t covered well in the IRS Form . . . → Read More: S Corporation CPA discusses S Corporation Debt on Form 1120-S | Form 1099-C, Cancellation of Debt
By Gary Bode CPA, on November 14th, 2013% IRS Notice CP 2000 marks the start of a low-level tax audit. Can you handle the response yourself? Sure. But call us for a free consult if or when you’re uncomfortable with the audit process. (910) 399-2705.
IRS Notice CP2000 CPAs expect the first 2012 Notices in November and December of 2013. IRS Notice . . . → Read More: IRS Notice CP 2000 CPA offers IRS tax audit tips | We Are Proposing Changes to Your Tax Return
By Gary Bode CPA, on August 25th, 2013% Congratulations on your student loan cancellation. But now the IRS assumes the cancelled debt is taxable income - ouch! If you need help with Form 982, call for a free phone consult: (910) 399-2705.
Cancellation of debt for student loans doesn’t always mean you’re off the hook with the IRS. If you received a . . . → Read More: Insolvency CPA discusses Student Loan Cancellation | Student Loan Debt Relief through Form 982: Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) | Form 1099-C: Cancellation of Debt
By Gary Bode CPA, on February 5th, 2013% Gary Bode, CPA: you may not need a Form 982 Insolvency CPA to prepare your tax return. But consider giving us a call if you run into problems. Sometimes experience impacts the tax return’s bottom line. (910) 399-2705.
Form 982 Insolvency CPAs see lots of Form 1099-C(s) for cancelled credit card debt. Hi, I’m . . . → Read More: Form 982 Insolvency CPA discusses Credit Card Cancelled Debt | 1099-C CPA
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