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By Gary Bode CPA, on October 27th, 2014% Lots of Form 1099-A misconceptions exist. I’ve tried to offer tips that should be in the taxpayer’s Form 1099-A instructions. For a free rental property consult call (910) 399-2705.
I’m a Form 1099-A CPA tax accountant because two of my specialties are rental real estate and cancelled debt. Form 1099-A doesn’t report cancelled debt, . . . → Read More: IRS Tax Form 1099-A CPA accountant discusses rental property foreclosures | Form 1099-A instructions | Landlord tax issues
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 June 14th, 2014% The most common error I see when amending a Schedule E landlord’s tax return is not deducting previously disallowed rental losses when the rental property gets sold. I offer a free phone consult on any rental real estate tax issues. (910) 399-2705.
In 2014, rental real estate CPAs still see plenty of rental property . . . → Read More: Rental Real Estate CPA discusses previously disallowed rental losses for active participation upon rental property short sale, foreclosure or abandonment | IRS Schedule E and Publication 527
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 12th, 2014% I’m sorry you lost your rental real estate property. I’ll try to cover how to plan for cancelled debt on Form 1099-C and the gain or loss on Form 4797. For a free rental property cancelled debt consult call (910) 399-2705.
I’ll cover cancelled rental real estate debt using the insolvency and discharge . . . → Read More: Cancellation of Debt CPA discusses the Insolvency and Discharge of Qualified Real Property Business Indebtedness exclusion of Form 982 | Rental Real Estate Cancelled Debt
By Gary Bode CPA, on January 11th, 2014% Cancelled debt tax reporting is tricky. Plus there’s usually a large potential tax liability riding on proper preparation of Form 982. For a free cancelled debt consult call (910) 399-2705. The virtual office means distance or location isn’t a factor for engaging me.
Cancelled debt tax reporting for student loans generally uses the Insolvency . . . → Read More: Cancelled Debt Tax Reporting for Student Loans | Form 982 CPA explains how to handle IRS Form 1099-C, Cancellation of Debt
By Gary Bode CPA, on January 8th, 2014% Form 1099-A triggers an IRS reportable sale of your rental property. Gains or losses can be six figures. Understand Form 4797. If you like what you read, call for a free rental property consult. (910) 399-2705.
Real Estate CPAs expect to see plenty of 2013 Form 1099-A(s), Acquisition or Abandonment of Secured Property, for . . . → Read More: Real Estate CPA discusses IRS Form 1099-A, Acquisition or Abandonment of Secured Property, for Rental Property | landlord taxation issues | Form 4797, Sales of Business Property
By Gary Bode CPA, on December 24th, 2013% Start with the Qualified Real Property exclusion on Form 982 to exclude cancelled debt on Form 1099-C from becoming taxable income. (910) 399-2705.
Hi, I’m Gary Bode, an IRS Form 1099-C CPA. We can serve you through our virtual off regardless of your location. If you need a cancelled debt CPA and like what . . . → Read More: IRS Form 1099-C CPA discusses the Qualified Real Property Business Debt exclusion of IRS Form 982, for Rental Property Short Sales and Foreclosures
By Gary Bode CPA, on November 20th, 2013% If you get uncomfortable while preparing Form 982 for cancelled debt, consider calling us for help at (910) 399-2705. Our virtual office can serve you wherever you live.
IRS Form 982 CPAs still expect to see a lot of Cancelled Debt from Form 1099-C, Cancellation of Debt, in 2014. Why? Unfortunately, there were still . . . → Read More: IRS Form 982 CPA explains Short Sales and Foreclosure Cancelled Debt | Reduction of Tax Attributes | IRS Form 1099-C Cancellation of Debt
By Gary Bode CPA, on October 22nd, 2013% Losing your home is tough, but paying taxes on forgiven or cancelled debt is devastating. Use the insolvency and/or qualified principal residence indebtedness provision of Form 982 to avoid this double whammy. Our virtual office means we can help you regardless of where you live. We offer a free consult on cancelled debt. (910) . . . → Read More: Insolvency CPA discusses Qualified Principal Residence Indebtedness on Form 982, Reduction of Tax Attributes | Form 1099-C, Cancellation of Debt and Form 1099-A, Acquisition or Abandonment of Secured Property
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