mircpa

Hello everybody Just got off on phone with IRS, Section 121 exclusion is not available since they did not occupy the house for minimum of 2 years within past 5 years, this is FYI

Yes, he was Permanent resident at time of house sale, if i understand correctly, they stayed more than 5 years then moved here and now sold, recap again 15 years ago bought house stayed 5 years, moved here to US, sold house now

Pacun Clinet is US pemanent resident (Green Card) now, stayed in his india house for some 15 years and sold, my question, how do we report this sale, does he get tax exemption as rules go for house hold in US ? or i should refer to tax treaties US had with India

Hello Everybody I have a client who sold his principal residence where he use to live (probably for 15 years) in India before moving to US, currently he is permanent resident here in US, can anybody direct me where to look for sales transaction tax treatment, or any US tax treaty with India thanks a bunch to all who responds

thanks kcjenkins

Hello Friends Its good to be again with such talented and experienced persons. I have a question about one of my client who wants to voluntarily dissolve corporation, no transaction ever occured ever since floated (2004), my question can I use 2006 1120S to file early 2007 1120S or wait until year closes. thanks to all who responds