BAA

Tax Guy

[BAA @SDCAT23]

@jasonscheer This doesnt say he never reports to DRF

[Elmo @elmo]

Elmo is ready for 2023! We got this, yeah baby! #HappyNewYear

[Dalai Lama @DalaiLama]

From the moment of our birth, love and compassion are important as the basis of our survival. It's fundamental human nature to be compassionate. Scientists say that since human beings are social creatures, they naturally care for others. We can't survive by ourselves.

[BAA @SDCAT23]

@taxgirl @tax

[Homer Simpson @Wisdom_Of_Homer]

Aw, $20. I wanted a peanut.

$20 can buy many peanuts.

Explain how.

Money can be exchanged for goods and services.

[BAA @SDCAT23]

@andreacpa0 j-6 proposed* regs

[BAA @SDCAT23]

@andreacpa0 @andreacpa0 check the j-6 regs under partner level treatment of carryovers, EBI reduces outside basis, further EBIE disallowed from PY, CY deductible Biz Int, and CY EBI form one loss group under 704(d). However if partners outside basis increases in subsequent year any

[BAA @SDCAT23]

@andreacpa0 Deductible biz interest is taken into account first. So it’s possible the partner allocated ETI in that same year may not be able to deduct EBIE from PY. My other recommendation is to order another 🥃 before reading more 163(j) regs

[BAA @SDCAT23]

@nittiaj I want a definition of a “small-business” taxpayer for BIE limitation, but also hesitant since I said the same thing about RRE ToBs for 199A but instead we got Notice 2019-07 safe-harbor

[BAA @SDCAT23]

@DamienMartinCPA @GlenBirnbaum @andreacpa0 @edzollars I got 199A problems but in 2019 they ain’t one 🤓😐

[BAA @SDCAT23]

@DamienMartinCPA Fun starting to turn to cognitive overload

[BAA @SDCAT23]

@RyanJMcDonell @nittiaj That’s how I’m reading it, I’m also wondering why the partner includes its allocable share of the partnerships depreciation and amortization in ATI.

[BAA @SDCAT23]

@OptimumHelp Were back online thx

[BAA @SDCAT23]

@OptimumHelp no service in my area

[BAA @SDCAT23]

@nittiaj As a colleague pointed out to me and some more time to digest the regs I could be over analyzing the election. it’s still not clear that an electing RP tob can’t treat the assets PIS prior to 1/1/18 as excepted assets

[BAA @SDCAT23]

@nittiaj Prevents an electing real property tob from switching those assets ADS, and the interest expense will be 163(j) item

[BAA @SDCAT23]

@nittiaj The allocation rules of 1.163(j)-10 require interest expense of debt secured by real property to be directly traced to the assets. Therefore I think the inability to make a retroactive election for all acquisitions placed into service prior to the effective date cont.

[Kris Greene @KrisGreene42]

@Iberia @AmericanAir my sister in law @ForbesGreene is trying to track down her luggage that you guys lost on the way to HER HONEYMOON!!! She keeps calling and getting bounced around with no explanation. Please help!!!@Iberia_en @ibexpress_help

[BAA @SDCAT23]

@OptimumHelp Just sent thx