section 988 - october 2016
TRANSCRIPT
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IndividualTaxpayers
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IndividualTaxpayersReceived K-1
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T h i s s e c t i o n i s a b o u t :uraccounted4accounting.com
IndividualTaxpayersReceived K-1Sec 988 Income
DISCLAIMER: This is for general information only and is not a substitute for professional tax advice.
https://www.youtube.com/watch?v=A25rqHv41g0
Click here for the narratedversion of this deck on
Takes about 3 minutes.
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DISCLAIMER: This is for general information only and is not a substitute for professional tax advice.
K-1
FOREIGNCURRENCY
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BASICS
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GENERALLY"ORDINARY"
INCOME
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NOT"CAPITALGAINS"
BASICS
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PERSONALTRANSACTIONS?
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IN GENERALNO
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PERSONALIS
EXCLUDEDFROM 988
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EXCEPTION
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> $200GAIN
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TAXABLE/DEDUCTIBLE
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Business
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TAXABLE/DEDUCTIBLE
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BusinessInvesting
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INVESTING
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ProducingCollectingManaging
Etc.DISCLAIMER: This is for general information only and is not a substitute for professional tax advice.
DANGER
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DISCLOSUREREQUIREMENTS
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FORM8886
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$50,000LOSS
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R e c a p o f w h a t w e c o v e r e d :
Ordinary
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R e c a p o f w h a t w e c o v e r e d :
OrdinaryBusiness or investing
uraccounted4accounting.comDISCLAIMER: This is for general information only and is not a substitute for professional tax advice.
R e c a p o f w h a t w e c o v e r e d :
OrdinaryBusiness or investingForm 8886
uraccounted4accounting.comDISCLAIMER: This is for general information only and is not a substitute for professional tax advice.
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