Every year, many taxpayers’ principal residences are destroyed or taken through condemnation by the government. This article discusses the application of Secs. 121 and 1033 when a taxpayer suffers an involuntary conversion of a principal residence.
This article explains the tax implications of owning and selling an interest in a publicly traded partnership treated as a partnership and the tax reporting and compliance challenges that an investor in a PTP may face.
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
