gpguidry
Level 1
03-04-2020
12:58 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Best Answer Click here
IRonMaN
Level 15
03-04-2020
01:08 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Line 1 or line 7 sounds like potential landing spots - depends on what the nature of their business is.
Slava Ukraini!
gpguidry
Level 1
03-04-2020
01:49 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Real Estate -
they have royalties mainly, rent some land, timber
This is a new thing. Just not sure if it would need to go on the 1065 pg 1 income or
the other income on the Sch. K. line 11, other income. It's a one time thing.
BobKamman
Level 15
03-04-2020
03:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It sounds like a payment from a seismic permit request, which might have involved use of dynamite or a “thumper” truck on the taxpayer’s land. You could call it rent, or just “other income.”