ICYMI 
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A roundup of recent discussions from the NAEA WebBoard. QUESTION #1: I have a client who rents out land for a solar farm. I read that a land rental cannot qualify for the qualified business income (QBI) deduction but am trying to find a ... Tynisa Gaines, EA, and Patrick D. Dimmitt, EA
Winter 2024,
ICYMI,
§121, §25D(e)(8), §1016, s corporation, §1250(b)(3), Form 1120-S, Form 13844, Rev. Proc. 2019-38, rental, §121(d)(6), direct debit installment agreement, Reg. §1.199A-1(b)(14), QBI, Rev. Proc. 2002-69, Rev. Proc. 2013-30, DDIA, solar, partnership, Schedule SE, §357(c), QJV, Treas. Reg. §301.6221(b)-1, depreciation, Schedule F, §351, §4.02(6), Schedule C, §761(f)(2)(B), Form 8832, §5.02, Schedule K-1, Badaracco v. Commissioner, Reg. §1.351-3, §6221(b), §4.03, Reg. §1.469-2T(f)(3), §121(d)(10), LLC, §721, §167, §1.1250-3(a)(3), Form 1065, qualified joint venture, qualified business income, Reg. §1.1245-2(a)(4) a
ICYMI
A Roundup of Recent Discussions from the NAEA WebBoard.i
QUESTION #1: I have a new client, an S corporation with two shareholders (married couple) who moved to Texas last year, that have hired me to prepare their 2022 tax return. The corporation purchases aircraft... Patrick D. Dimmitt, EA
Winter 2023,
ICYMI,
Reg. §1.351-3(a), Rev. Rul. 77-412, §732(b), §731, s corporation, §732(c), §168(i)(7), §351, partnership, Rev. Rul. 67-65, §358(a), Reg. §301.7701-3(c)(1)(v)(C), NIMS, §708(b)(1), §5.03, Form 2553, §263A, National Incident Management System, §752(b), Reg. §301.6109-1(h)(1), LLC, inventory, §731(a)(1), EIN, Form 1065, Form 3115, Reg. §1.357-2(a), Internal Revenue Manual 21.13.4.3.1, Reg. §1.417-1(b)(6)(iii)(E), §357(c), Rev. Rul. 99-5, Reg. §1.471-1(b)(3), Reg. §301.7701-3(g)(1)(i), Reg. §301.6109-1(h)(2)(ii), Rev. Proc. 2013-30, §471(c), Reg. §1.351-3(b), §735(a), §4.03(1), Form 1125-A