Sir! First of all Thank you so much for sharing this valuable knowledge. It will help a lot to the students like me. I am having one question ! As per our text book, when the business property in trade and business completely destroyed we are using the Adjusted basis of the property as Amount of Loss, but in this video even the equipment was completely destroyed you use the lessor of Adjusted basis and Decline in the value of the property as the Amount of loss. I am confused, please advise. Thanks.
I just want to say your videos are amazing. I am taking CFP exam and your lectures are better than Dalton's explanation on tax topics. Great stuff!
Most welcome. Please check my website for more. Start your free trial : farhatlectures.com/
Thank Farhat! You are amazing!
Thank you too! and please visit the website for more farhatlectures.com/
Very specific! Thank Farhat! We had made bad move and invested a Ponzi Scheme. Any guideline about Form 4684 for Ponzi Scheme deductable?
Thank you . This explanation very clear
Glad it was helpful! Thank you and please visit the website for more farhatlectures.com/
Sir! First of all Thank you so much for sharing this valuable knowledge. It will help a lot to the students like me.
I am having one question !
As per our text book, when the business property in trade and business completely destroyed we are using the Adjusted basis of the property as Amount of Loss, but in this video even the equipment was completely destroyed you use the lessor of Adjusted basis and Decline in the value of the property as the Amount of loss.
I am confused, please advise.
Thanks.