Thank you so much for this. I am working at a top public accounting firm and this has definitely helped me. Now I have a better idea as to what I'm doing during busy season.☺
Glad to hear that! Thank you and please visit the website for more farhatlectures.com/ Start your free trial! Contact me for more: LinkedIn: www.linkedin.com/in/professorfarhat. Facebook: facebook.com/farhatlectures Instagram: instagram.com/farhatlectures/?hl=en Reddit: www.reddit.com/user/Farhatlectures
Mr. Farhat, please review toward the end of the video. You placed the charitable contribution deduction in box 11 (other income) of the Schedule K-1. I think you meant to place it in box 13, to then go on Schedule A.
Hi! Thank you for your awesome video! I have a question: I contributed my funds in business account LLC Partnersip (2 people my husband and me) in about 15 000 summary. But then it turned out that I don't touched that funds. And I just deposited it on my personal accout. I don't need to pay taxes from this funds, right? Can I show them as a contribution?
Summary Steps: File Form 1065 for the partnership. Report capital contributions on Schedule M-2. Record any startup expenses (if applicable) as deductions on the 1065. Provide Schedule K-1 forms to each partner, reflecting their share of any loss.
Hi ......questión...on december 28th 2023....I opened an LLC (2 member...partnership) ..... me are My partner are non us resident . I have not sell anything yet. Should i complete a 1065) all on zero??? I Will appreciate your help on this . Rgds
Thank you so much for this. I am working at a top public accounting firm and this has definitely helped me. Now I have a better idea as to what I'm doing during busy season.☺
Glad it was helpful! Thank you and please visit the website for more farhatlectures.com/
Helpful as always, Mr. Farhat!
Glad to hear that! Thank you and please visit the website for more farhatlectures.com/ Start your free trial!
Contact me for more:
LinkedIn: www.linkedin.com/in/professorfarhat.
Facebook: facebook.com/farhatlectures
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Reddit: www.reddit.com/user/Farhatlectures
Mr. Farhat, please review toward the end of the video. You placed the charitable contribution deduction in box 11 (other income) of the Schedule K-1. I think you meant to place it in box 13, to then go on Schedule A.
I realized the moment I saw it. It was a small mistake
Hi! Thank you for your awesome video! I have a question: I contributed my funds in business account LLC Partnersip (2 people my husband and me) in about 15 000 summary. But then it turned out that I don't touched that funds. And I just deposited it on my personal accout. I don't need to pay taxes from this funds, right? Can I show them as a contribution?
How we do report when the company started for the first year and we did not have any sales but capital only
Summary Steps:
File Form 1065 for the partnership.
Report capital contributions on Schedule M-2.
Record any startup expenses (if applicable) as deductions on the 1065.
Provide Schedule K-1 forms to each partner, reflecting their share of any loss.
Few line items are not considered like 18 C, 21etc, can you please explain logic behind it
Amazing!
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Is there anything about k2 and k3?
Thanks sir...💐💐
All the best! Thank you and please visit the website for more farhatlectures.com/
Hi ......questión...on december 28th 2023....I opened an LLC (2 member...partnership) ..... me are My partner are non us resident . I have not sell anything yet. Should i complete a 1065) all on zero??? I Will appreciate your help on this . Rgds
Hi sir
Please do Schedule k-1 of PTP