CA $800 min tax on S Corp with Real Estate

Technical topics regarding tax preparation.
#1
Posts:
636
Joined:
23-Apr-2014 12:01pm
Location:
san diego ca
I am talking about a CA S Corp. with only 1 commercial property in it. (Why the lawyer used an S Corp is beyond me.)

I have seen this done 2 ways.

One, the $800 minimum tax is the only item on page 1 of the Form 1120S on line 12, Taxes and Licenses. All the property rents and expenses are on Form 8825.

Two, the $800 minimum tax is NOT on page 1 of the Form 1065 on line 12, Taxes and Licenses. Page 1 of the 1120S has NO amounts on it. The $800 minimum tax is included (in Taxes line 11) with all the property rents and expenses on Form 8825.

I know it's six of one or half a dozen of another, but I am just curious how other practitioners handle this.

Thanks.
 

Return to Taxation



Who is online

Users browsing this forum: Google [Bot], Google Adsense [Bot], GSTaxTalk, HowardS, JoJoCPA, sok454, Terry Oraha and 139 guests