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Earned Income Calculation


austin3515

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"Anyone know how to to treat a "743(b)" election?  It's something like depreciation.  If anyone can point me to something on point I would appreciate.  Trying to see if I treat it like section 179.

So...

Box 14A $250,000

Sect 179: 0

"743(b)" related to a step-up in basis in the acquisition of a business:  $25.000.

Austin Powers, CPA, QPA, ERPA

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