sjrcpa
Level 15
09-27-2022
12:02 PM
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What software are you using?
What do you mean by "we have just recently had one of our clients get hammered by IRS because the Recourse Beginning figure was not accounted for on the 1040"?
Was there a deemed distribution due to a decrease in liabilities that wasn't picked up? Was the basis computed incorrectly and too much loss was deducted?
The more I know the more I don’t know.