I have a doubt Jason, In Schedule M-2, Line 3 Net Income (Loss) you should enter the Net income (Loss) as per Tax Return which is nothing but Schedule M-1 Line 9($36,611) but, you entered the Net Income (Loss) as per Books which is Schedule M-1, Line 1($12,209). Please clarify 😃
@therewillbeguitar8078
Жыл бұрын
Love your channel man. I’m currently in my first tax internship, and despite being very proficient in financial accounting, tax definitely posed some new challenges. I’ll be watching a lot of your videos for sure! I love how you throw in little details that encompass more of what you need to know in order to prepare the return correctly, such as the safe harbor, section 179, M-1 and M-2 adjustments, etc. It’s good to have somebody actually slow down and explain what they are!
@JasonDKnott
Жыл бұрын
Glad to hear they are helpful. Best of luck with that first tax internship!
@makenzijismeis406
Ай бұрын
@@JasonDKnott A client took 2 loans for his business. How do you manage thess 2 loans in the forms 1065 and K-1 : 30K loan for 2021 and 49K for 2022.
@lilygao1746
Ай бұрын
Really great teaching of 1065, I just want to ask if you have hand out here, I mean the the material of example. I want to file it on my own after watching your video. Thanks!
@funstate9881
Жыл бұрын
Doing a Great job !!!! This Video is Very helpful for me. I am an EA Student ... Watching from INDIA
@abdulbaseer162
9 ай бұрын
Jason I love the way you explained the concepts of 1065
@vuppal2000
3 ай бұрын
Amazing video. Thank you for explaining 1065 in detail.
@carrie4579
Ай бұрын
It is not covered QBI part. Hopefully it can be found in your other videos. Great video many thanks!
@lisakuykendall8793
8 ай бұрын
Thank you for making these videos!
@JasonDKnott
8 ай бұрын
Glad you like them!
@LA2JERSEY
3 ай бұрын
Thank you so much! Can you please teach a class about from LLC single member to multi members 1065 and S Corp? How do we allocate the income and liability when entities restructured in the middle of the year? Thank you thank you!
@e.g9506
Жыл бұрын
Great job ... Thank you so much for your time. I have a question, let's say Resturant total sales record include . where to enter & in 1065 ?
@DoubleCousinDesigns
9 ай бұрын
Your videos are very helpful. I am confused about where to report deductions for operating costs (office supplies, postage, etc.). On what form should that information be reported?
@gabrielabrown2620
2 ай бұрын
I was told that limited partners are silent partners only, yet you put them as limited active partners. Would you clarify?
@carrie4579
Ай бұрын
Are they two general partners? why choose 2b limited partners on page 6, analysis of net income per return instead of 2a, general partners?
@AlexanderHiller
7 ай бұрын
Hello Jason, thank you very much for your videos!!! Do you offer private consultations?
@RaulGonzalezG
7 ай бұрын
Jason, thanks for your videos. They help a lot. One question please: I’m trying to e-file Form 1065 using TaxAct but they don’t have Schedules K-2 and K-3 yet and they don’t know when they will have them available. Do you know of other providers similar to TaxAct where Form 1065 is complete with all the schedules and could be e-filed to IRS? Thanks for your help.
@ZhiYin
Жыл бұрын
Thanks very much! My two cents: the distribution numbers you choose (see 29:13) implies that John and Jane had to took distributions in 75:25 because their ownership is 75:25. That's misleading because each partner can choose to get any arbitrary amount of distribution as long as their own capital account balance allows, and the company's financial situation allows. In next year's video, you may want to let John take out 4k and Jane take out 3.5k, just to show it's arbitrary.
@racecitycarbraga9350
Жыл бұрын
🙏🙏🙏👍
@nicolemusayeva3054
6 ай бұрын
Hello, my question is after fill out 1065 form how i can submit to IRS?
@ballakoroma2113
Жыл бұрын
Appreciate your work. Thanks a lot!!!
@JasonDKnott
Жыл бұрын
You're welcome!
@jimkincaidz
Жыл бұрын
Thank you! Very helpful
@JasonDKnott
Жыл бұрын
Glad it was helpful!
@masik4451
5 ай бұрын
Can you please assist about Partnership Private Equity
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