News - John R. Dundon II, Enrolled Agent
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A 'Short Term Rental' usually involves Condos, B&B’s, Hotels, Etc.  These 'short term rentals' fall outside of the definition for tax purposes of rental real estate.  As such these investments are treated as a business and the owner must materially participate in order to recognize...

Not grouping related activities as one activity Treating equipment leasing as non-passive by placing the revenue from such on Schedule ‘C’ or Schedule K-1 line 3.  Rentals are passive even if the taxpayer materially participated Deduct rental real estate losses when AGI is more...

There are two distinct issues to evaluate when disposing of a passive  asset: Is the disposition considered to be a qualifying disposition under reg 1.469 making the losses deductible? Is the gain...

The IRS has issued two new forms for reporting stock options. Form 3921, Exercise of an Incentive Stock Option Under Section 422(b), and Form 3922, Transfer of Stock Acquired Through An Employee Stock Purchase Plan Under Section 423(c), reflect the information reporting required by the...

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