Property sale guidance needed from USA educated/based acountant needed
Budget: $25 – $50 USD
I am looking to have some fundamental accounting questions answered relating to disposing of/being bought out of a property interest by a partner.
Main questions relate to: Capital accounts & handling of them over time, depreciation/recapture tax, and mortgage interest expense as related to K-1's and what can be garnished from the some limited documents I have/eill email as well some other misc. items. but all related to adjustments that need to be made to my/my partner's capital account in order to correctly account for expenses taken over time, in order to dispose of property and/or have partner buy me out.
I would need to be able to send some salinet docs (not many, just 4-5) and need to get on a call either later today or tomorrow first thing.
Main questions relate to: Capital accounts & handling of them over time, depreciation/recapture tax, and mortgage interest expense as related to K-1's and what can be garnished from the some limited documents I have/eill email as well some other misc. items. but all related to adjustments that need to be made to my/my partner's capital account in order to correctly account for expenses taken over time, in order to dispose of property and/or have partner buy me out.
I would need to be able to send some salinet docs (not many, just 4-5) and need to get on a call either later today or tomorrow first thing.