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Posted

How do I complete schedule c, in particular, Section 2 of Part I?

I knoiw there was transitional relief for a good faith effort, which applies in this situaiton.

(I posted this first in the 5500 "Department" but no one replied :( )

Austin Powers, CPA, QPA, ERPA

Posted

I'm thinking this:

Did they receive indirect comp? Yes (obviously, otherwise there wouldn't be any technology limitations)

Did they receive eligible indirect comp for which they received the required disclosures? Yes (because they disclosed that they couldn't disclose it).

Weak, I know but if I dont fill the boxes out somethign like this, then I get a filing error.

Austin Powers, CPA, QPA, ERPA

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