10.23.09
Preparing Advanced 1040s (October 23, 2009)
The following are links to items mentioned in the Preparing Advanced 1040s course given in Riverside on October 23:
- IRS’s New View on Acquisition Debt – Article describing CCA 200940030 where the IRS decided you could deduct interest on $100,000 of acquisition debt in excess of $1,000,000 as home equity debt.
- IRS AMT Assistant – IRS page to help determine if taxpayer may be subject to AMT.
- Bogus v. Commissioner – Tax Court decision this week that pointed out taxpayer should have kept records to support passive activity
- Levels of Authority – article detailing the various authority levels under the regulations
- Census Bureau NAICS website – referenced in chapter on like kind exchanges.
- FTB Position on TIC and Revenue Proc 2002-22 – FTB considers qualification under Revenue Procedure 2002-22 a minimum, but not necessarily standing alone sufficient, to qualify as an exchange of other than a partnership interest under §1031.
- Garnett v. Commissioner, 132 TC No. 19, IRS loses on argument that LLC is by definition a limited partnership for §469 purposes
- Hegarty v. Commissioner, TC Summary 2009-153, IRS loses the LLC argument again, this time with taxpayers representing themselves
- California Society TaxTalk group on Yahoo
- My Twitter Feed – my name on Twitter is edzollars
Below is a Google Voice connect box. You can click on the button, provide your phone number, and Google will connect us toll free by calling you back and then, when you answer, calling me. The call is forwarded to me whereever I might be at the time. If I’m not available, you can leave a voice mail.
