질문하기
답변일
4/25/2012 5:44:53 PM
“질문은: 1.시에서 저의 contractor에게 직접 돈을 주지않고 저에게 w9으로 주므로서 제가 rental 보고하는 Form E에서 그 w9 수입은 어느 항목에 해당하는지요?”---> Normally this type grant is paid direct to you, a taxpayer, and may be taxable income with the expense of construction capitalized and depreciated. However, code sec. 118 for a C-corp says a capital contribution is not gross income and 2011 RIA Handbook paragraph 3304 says "while governmental payments designed to subsidize business operations may constitute income rather than a capital contribution, a governmental economic development grant may constitute a capital contribution. For a C-corp gain or loss from distributing property to its shareholders."I believe reduction of property basis is more for situations of involuntary conversions and insurance proceeds from casualty losses.So, I guess you need to contact Dept of Rev(or FTB/BOE) of your home state for more accurate information in detail.
