I continue to believe that for Bob’s used automobile dealership, the business entity that I would suggest would be an S corporation. 4
Milestone FourReferencesAbout Money. (2016). The Key Benefits of Health Savings Accounts. Retrieved July 16, 2016. Anderson, Kenneth, E., Pope, Thomas, R., & Rupert, Timothy, R. (2016). Prentice Hall's Federal Taxation 2016 Individual.Boston: Pearson.Reesink, Petitioner vs. Commissioner of Internal Revenue, Respondent. 2475-10. (2012). Retrieved July 16, 2016. Rice, A. (2014.) Should I Start a 529 Plan?Retrieved July 16, 2016. Rieman, Maxime. (2016). Retirement Account Information: Roth IRA’s, 401k’s, Rollovers, and more… Retrieved July 16, 2016. -account-roth-ira-401k-rollover/Wienclaw, Ruth, A. Small Business Taxation. (2010). Retrieved July 16, 2016. -6b02-4edb-9907-bb3ad63af36b%40sessionmgr102&hid=117&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#db=ers&AN=956074325
Milestone FourAppendix AForm 1040 PDF File – AttachedAppendix BForm 8824 – Attached6
Milestone FourAppendix CSchedule B – Attached 7
Milestone FourAppendix DSchedule D – Attached8
Milestone FourThe Schedule D, has only been prepared in the event, that Bob does not want to use section 1031.However, the 1040 form that I have prepared, is assuming the section 1031 will be used. Appendix E9
Milestone FourSchedule E - Attached10
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- Taxation in the United States, 529 plan