S Corporations - Taxpayers could not net income and loss from property rentals to S corporations
Article Abstract:
Taxpayers cannot offset losses from rental of property to their S corporation against the income from rental of another property to a second S corporation owned by them. This was the ruling given by the Tax Court in the Carlos, 123 TC No. 16 (2004) case.
Publisher: Warren, Gorham & Lamont, Inc.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
S corporations, Rents (Property)
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
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Corporations - Corporation's AMT NOL carryback reduced by its taxable income in pre-AMT tax years
Article Abstract:
The court in the Sequa Corporation, 94 AFTR 2d 2004-6132 (S.D.N.Y.), has concluded that the company's AMT NOLs could be absorbed on carryback by regular taxable income of the company in pre-AMT tax years.
Publisher: Warren, Gorham & Lamont, Inc.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
Holding companies, Minimum tax, Sequa Corp., SQAa
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
User Contributions:
Comment about this article or add new information about this topic:
Subjects list: United States, Company legal issue, Cases
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