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My clients both had dependent care deduction of $5k each (2 dependents). Totaling $10k. It appears they are only eligible to take $5k between the 2 of them. The...
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Good point! In this case the overall basis is the same for all parties.
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thanks Bill.I did try using the business percentage but it came back incorrect. (I think because its below 50%.I will reduce basis as a fix.This is sort of craz...
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New client to me. Owns 47% of a residential rental property. All expenses recalculated using the 47% except for the depreciation. The schedule E worksheet does ...
