#1421 ·
Raymond Martinez10 said:I’d personally throw in the asset data required under Section 22, Subsection 11 of the IRS tax code.
Basically, if a company actually owns any of these assets, you have to attach this info:
Section 22, Subsection 11 of the Federal Corporate Tax Regulations
(11) Any taxpayer holding long-term assets—specifically things like boats, aircraft, condos, or vacation homes under the definitions in Section 12, Subsection 16 of the Tax Code—is required to put together a detailed breakdown for each individual asset. This report needs to cover the specific type of asset, what was paid for it originally, how much revenue it actually brought in during the tax period, the depreciation taken, and all the related operating costs incurred during that same period, broken down by expense type. You can't just skip this; this full breakdown has to be attached to the corporate income tax return.