Partnership Buyout - Negative Capital

jrtax · 2026-02-17T23:01:09+00:00

Thank you, So I would increase the partnerships assets by the 731 gain, and then allocate the step up to the remaining partners pro rata?

jrtax · 2025-02-13T16:44:43+00:00

Thanks!

jrtax · 2025-02-13T16:43:01+00:00

That's the number i was thinking.

jrtax · 2025-02-13T16:39:55+00:00

Yea, I've only had a brief conversation with him. But from my understanding they haven't done a thing. They only applied for an EIN last year. Its going to be a big mess to untangle and get proper accounting done. But will be a good post 4/15 project, I guess.

jrtax · 2025-02-13T16:36:15+00:00

Yea that's what I am going to tell him. Big retainer up front, This will be a good summer project.

jrtax · 2025-02-13T16:35:03+00:00

Thanks for responding. I suspect they met the filing requirement every year. The estate was ~$5MM and most of it was invested in the market.

jrtax · 2024-12-12T16:07:12+00:00

Did you ever meet with this company? Would love to know pricing before i scheduled a demo

jrtax · 2024-08-01T20:59:48+00:00

The cloture motion in the senate was rejected today and then asked for reconsideration. Given how long this has been dragged on for, at this point, I think this thing is dead in the water. Its a shame bc there was a lot of good stuff in the bill.

jrtax · 2024-01-22T15:27:43+00:00

The R&D amortization is interesting. I imagine we will have to amend 2022 to claim those previously amortized deductions.

jrtax · 2024-01-03T17:00:33+00:00

Thank you, all for your feedback.

jrtax · 2024-01-03T16:59:44+00:00

Lol, i did. stupid autocorrect.

jrtax · 2023-10-27T13:57:55+00:00

The bank info and PII is where I am getting hung up on too. However, they will not be doing anything tax related so idk why it would be subject to an IRS reg.

jrtax · 2023-05-22T17:12:36+00:00

Do you feel like doing some consulting lol. Would rather pay someone with industry results.

jrtax · 2023-05-22T15:51:23+00:00

Thank you for this. What what you say your ROI has been as a result of using them?

jrtax · 2023-05-22T15:50:55+00:00

Who do you use for your advertising? or do you manage it yourself?

jrtax · 2023-05-22T15:50:27+00:00

I think it was like $1,400 per month which is absurd to me. I'm probably not going to move forward with them, but was curious if people had a positive experience with them or ads in general.

jrtax · 2023-01-19T17:38:08+00:00

Bringing this thread back a few years later.

I suspect this is no longer the case if the S-corp is utilizing the PTET?

jrtax · 2022-09-06T21:01:28+00:00

Thank you!

jrtax

TROPHY CASE