Long VS. Short Cap Gain

Technical topics regarding tax preparation.
#21
dave829  
Account Deactivated
Posts:
1482
Joined:
9-Jan-2018 9:28pm
Location:
California
gatortaxguy wrote:Does anyone actually do that?

As shown by the court cases, the IRS does. Also, most tax prep software is set up to handle a sale of a business asset as a sale of its individual elements separately (building, land, improvements, each asset listed separately on the depreciation schedule).
 

#22
Posts:
2656
Joined:
28-Apr-2021 7:00am
Location:
FL
Of course, but I seriously doubt anyone actually bifurcates when a roof is replaced within a year of sale.
Steve
 

Previous

Return to Taxation



Who is online

Users browsing this forum: Anderly, ChrisGCPA, davidlat, golfinz, Google [Bot], JAD, JR1, kyle242gt, Miami88, missingdonut, Nilodop, TaxCut, Terry Oraha, TexasTaxCPA, Wiles and 187 guests