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Home   Help with Intuit Products   Quickbooks Tasks   Journal Entries & Accounting Tasks  
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01/26/2012 at 02:08PM PST
We’ve seen a scam e-mail regarding Intuit tax information floating around today. This e-mail was not sent or authorized by Intuit. If you ever wonder whether an e-mail from Intuit is real or fake, please refer to the link below.

Thank you

http://security.intuit.com/security-alerts.php
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katesheart
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11/06/09 9:42am PST

Transfer a fixed asset from one company to another

I need to add assets that are being transferred from a sole proprietorship to an LLC. These assets were not purchased by the LLC, just transferred. How to I show the assets in QB when it was basically a "gift" and not an expense we paid for?  

I need the fixed asset to show up on our balance sheet as a fixed asset.

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CopperCanyonTax
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CopperCanyonTax
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11/07/09 9:33am PST
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You need to start by filing form 351 otherwise it will be a taxable transaction. There is no gift, it is a transfer of assets from one entity to another that have the same ownership. If you are unsure how to handle the transaction, contact you tax preparer.

Marc Barnes

To learn more about Copper Canyon Tax, please visit out website.

Marc R Barnes
Copper Canyon Tax and Financial Services
coppercanyontax.com
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