Hello! When would you see AR with $0 book and tax basis in your 754 / 743? Wouldn’t the income from that sale/AR create basis for that AR? Possibly a cash basis taxpayer?
Thank you for your video! Very informative and helpful. Do you mind posting an education/explanation episode for 163(j)? It’s very confusing to a lot of tax preparers like me and would be extremely beneficial if you can explain that. Thank you in advance!!
Great question! No it would not include unrecaptured Section 1250 special 25% tax rate long term capital gain. Only Section 1250 normal recapture which as you know is not really applicable anymore.There are other items under unrealized receivables and I recommend you look at the definition of the phrase under 751.
@@ExploretheCode oops I accidentally mixed those up, I have a tendency of confusing the two.. Thanks for the advice and keep up the good work these videos are fantastic😁
Each time when I need to understand some concept in 751(a), I will go though your lectures. Thank you!!!
I love this partnership tax series. Both. A great primer and with details.
You did a great job of explaining this material. Really appreciate you taking the time to create this video.
Thank you, Jackson!!
Hello! When would you see AR with $0 book and tax basis in your 754 / 743? Wouldn’t the income from that sale/AR create basis for that AR? Possibly a cash basis taxpayer?
Phenomenal! Thank you (and I’m a CPA).
Thank you, David!
Thank you for your video! Very informative and helpful. Do you mind posting an education/explanation episode for 163(j)? It’s very confusing to a lot of tax preparers like me and would be extremely beneficial if you can explain that. Thank you in advance!!
Thank you, JJM! Yes, I would be happy to make a video on 163(j). I could not agree more! I will add this to my list of next videos to create.
Great job explaining!
I appreciate the video. I am still trying to get my brain around it.
Would unrealized receivables also include unrecaptured sect 1250 depreciation? Or is just 1245?
Great question! No it would not include unrecaptured Section 1250 special 25% tax rate long term capital gain. Only Section 1250 normal recapture which as you know is not really applicable anymore.There are other items under unrealized receivables and I recommend you look at the definition of the phrase under 751.
@@ExploretheCode oops I accidentally mixed those up, I have a tendency of confusing the two.. Thanks for the advice and keep up the good work these videos are fantastic😁
@@dylanjersey13 No problem! Thank you!!! I'm always happy to help.
Great explanation
Excellent! Thank you!