Lee B

I would report. After all the essence of the situation is that an active rental exists. It's only due to timing that there is no reportable income/expenses. Wouldn't you still have a small depreciation deduction?

Here is a link for the IRS Interactive Tax Assistant for this credit: https://www.irs.gov/help/ita/am-i-eligible-to-claim-the-child-and-dependent-care-credit

Copied from ZDNet via Forbes:

At least, it's not a triple net lease. Is the Sch F and the Sch E land contiguous under the same exact ownership? What is the relative revenue generated on Sch F and Sch E? Look for other involvement perhaps more long term, soil erosion control, noxious weed eradication, any structures etc. Look at restructuring the arrangement so that it's QBI in the future.

A better example quite common in the western U S: Well is drilled intended to supply the whole property, subsequently goes dry and has to be filled in. Another deeper well is drilled which is successful. All costs added to basis.

Demolition costs or in this case, costs of land restoration is always added to basis. The bigger question for me is which part of the land was the pond related work done on resulting in : 1, Pond related costs added to remaining 9 acres? 2. Pond related costs added to the 6 acres sold? 3. Pond costs apportioned on a per acre basis ? As to the question of whether the pond related costs should be added to basis, it's no different than any other expenditure performed with the intent of increasing property values which doesn't work. Example: Property owner makes extensive flood control improvements. Next year, big flood changes river channel, rendering prior flood control improvements useless.

I do very few EIC returns, but I believe you are correct. I just discovered that the IRS has a neat interactive Q & A tool called the "EITC Assistant", https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant time Give it a try, it only takes a few minutes, which is less time than reading reference materials

Oregon, like Delaware, has allowed filers to itemize on the state return, while taking the standard deduction on their federal return. Since Oregon's standard deduction amounts are fairly low, itemizing only on the state return is fairly common. Oregon created a Schedule A and released it along with instructions in early January. With respect to the deduction of paid taxes, it seems to function just like Delaware.

What a bunch of bovine excement ! The person that told you that should be flogged in public. 1. Can you print the return to a pdf file first, then print the return from the pdf copy? 2.Is the printing of returns O K after rebooting your computer, then you run into problems several returns later ? There is more depending on your answers.

One other possibility, creation of W -2s is a favorite tool of scammers.

It all balances, some of us win the genetic lottery and some of us crawl thru the ditches of life. I am feeling very philosophic this morning, while I recover from surgery.

I looked it up, capital gains from the sale of a muni bond is taxable federally and quit likely at the state level also.

Just because the interest is tax free, does that mean a capital gain is also tax free ?

I have seen this exact problem multiple time over the years, especially when spouse 1 earns significantly more than spouse 2. The only solution is for spouse 1 to claim married "withholding at the higher single rate." either S -1 or even S - 0 in a few cases.

This is one of the times where substance matters more than form. So it needs to be recorded as a buyback of capital.

You nailed it !

Because the QBL carries forward to the next tax year to reduce future QBI.

What are you doing creating an LLC ? Are you an attorney licensed to practice in CA? How are you going to create a customized operating agreement, which most banks require a copy ?

I attended this seminar prior to the release of the safe harbor notice. The safe harbor notice has completely flipped my understanding. Now I think that all of my rentals except one do not qualify. The one that might qualify is problematic because of the contemporaneous log requirement, which my client would be very unlikely to maintain.

This will give you a good overview: https://www.irs.gov/taxtopics/tc431 I find Pub 4681 to be a good resource with lots of examples.

This situation has been troublesome with ATX in recent years. However, is an 1116 even required in this situation ?

This is not a final reg

Drake included the cost of efiles when I purchased the software. Perhaps another user can answer your question about 1040 NR, since I don't prepare any.

Be very very careful and limit your potential risk as much as possible !

Are referring to Avast ?