I have income from my deceased husband's business received after his death. Do I file a Form 1041 for the estate? He had $1 million in real estate, and I am the only beneficiary. I filed a joint return with him until the time of his death. Then income after his death was $84,000 with expenses of $30,000. What about the business income?

January 23rd, 2024

A client of mine owns rental property that was moved under an LLC after we claimed depreciation for two years. When I moved the property, I took the net value after depreciation as the new basis and depreciated it over 25.5 years. Am I doing that right? Also, what do I need to do to make it a joint venture, and if I do the depreciation on the LLC as Original Basis - Accum Depr = New Basis over 27.5 years, would that be correct?

July 30th, 2023

What is considered a Fictitious Business Name?

October 16th, 2024

I sold my LLC (Subchapter S corporation) and am filing my 1120 return now. Do I indicate it as a final return since the company was purchased, or is it my last return?

March 21st, 2023

I volunteer at a university with 501c3 status and want to deduct my mileage for traveling to and from the university on the days I volunteer to coach. I've read that I can deduct .14 x mileage and list it on Schedule A, but it doesn't specify which line. Should it be line 16 or 17? Do I need to attach Form 8283? Additionally, how do I report this mileage, and is it considered a cash or non-cash expense?

April 26th, 2023