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Posted by Harlan Lunsford on January 25, 2007, 3:02 am
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CGS wrote:
> I am a little confused....
>
> Partnership is involved only in the subdivsion of land for
> residential lots. Streets, Utilities, Water, WasteWater,
> Amenity Center, Etc. Is their sales of lots considered land
> related or residential construction? If residential
> construction and they used only Subcontractors, is the
> limitation (W-2, which is zero) for the deduction shown at
> the partnership level or do you reflect the QPAI and the
> flowthrough of W-2 separately?
Confused no longer. Remember that sec 199 is based on
employee wages ONLY, and not on payments to subcontractors.
So what do you mean by last line, "flowthrough of W2
sepaerately?"
ChEAr$,
Harlan Lunsford, EA n LA
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