Level 2

NET INVESTMENT TAX ON RENTAL SALE

Forum|Forum|6 years ago
March 9, 2020
1 reply
0 views

Help please! Client sold commercial rental formerly used by client in her business. Sold business 5 years ago and collecting rents from same business purchaser. Client is active but less than 250 hours activity (even if annualized to date of sale). It appears client will be subject to net investment tax on 1231 sale--any relief from prior ownership as material business owner?

NIIT

This topic has been closed for replies.

qbteachmt

Level 15

This is a Duplicate; you previously asked here:

https://proconnect.intuit.com/community/tax-talk/discussion/net-investment-tax-on-sale-of-commercial-rental/01/61111#M1520

No need to keep asking. If someone knows the answer, they will try to help. Please keep it to One Topic. Thanks.

*******************************Don't yell at us; we're volunteers

J

jay76Author

Level 2

All I can hear is crickets...but, thank you

qbteachmt

Level 15

This is not Customer Support. This is a peer user forum. You won't bring more attention to the issue by asking again and again.

But you could help yourself by reading what you put there, then providing more details. You didn't, for example, explain if that was titled to her personally, and rented to her business as an S corp occupancy or just what for these details that would be helpful. The more details you provide, the easier it will be for someone to help. If there needs to be more info provided, the peer users that volunteer here to help, are a little busy right now to play 20 questions via the internet, just to offer free guidance.

Help them help you. Make it as easy as possible by providing the rest of the info that would be useful to them:

https://proconnect.intuit.com/community/tax-talk/discussion/net-investment-tax-on-sale-of-commercial-rental/01/61111#M1520

*******************************Don't yell at us; we're volunteers

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