Pennsylvania Chapter

Chapter President

Patti S Blum
Patti's Tax Service
PO BOX 796
Sheffield, PA 16347-0796

814.968.5919 Phone
814.968.4375 Fax

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Picture Placeholder: Kenneth Portera, EA, ATP
  • Kenneth Portera, EA, ATP
04/25/2014 5:20 PM

I have a client who purchased rental RE in 2013 under his name. We are recording rental income and expenses on Sch E. he is not a RE professional. 

In early 2014 he felt the need to form a LLC to protect his personal assets. 

Just recently he contacted his attorney to have him move the property into the LLC. To our surprise a RE transfer tax based upon the value of the property was so excess that the establishment of the LLC now has little meaning. 

I recall reading somewhere that if the conveyance of property is transferred without any monetary consideration the transfer tax is not imposed. 

Just trying to get a better handle on this so we can move forward in using the LLC as intended.  ​

4/25/2014 5:20 PMNo
Picture Placeholder: Purvi Gandhi, EA
  • Purvi Gandhi, EA
04/16/2014 11:26 AM
4/16/2014 11:26 AMNo
Picture Placeholder: Helen J Richardson, EA
  • Helen J Richardson, EA
13/22/2014 7:23 AM

​Is there a reason that the Defense Finance  only witholds 1% not  3.4% ?  W2 shows city tax of 735.00 on 73350  city tax w/h .  This would be in Scranton. Thank you HJ

Patti S Blum4/7/2014 3:31 PMNo
Picture Placeholder: Jo Ann Mensinger, RTRP
  • Jo Ann Mensinger, RTRP
13/14/2014 2:58 PM

​Client sold stock in 2013.  The 1099-B has 170 entries of stock sales. Does PA accept a copy of the 1099-B in lieu of putting all the entries on the Schedule D?  The Schedule D does show statement attached along with the sales prices, cost basis and gain.

Thank you for your assistance!

JoAnn Mensinger, RTRP

Carolyn J McGlinn, RTRP3/16/2014 5:22 PMNo
Picture: Megan Sonicksen
  • Megan Sonicksen
012/6/2013 10:35 AM

​With tax season fast approaching, remember your Chapter discussion board can be a great resource for state and local tax issues as well as utilizing the state tax volunteers.

Megan Sonicksen, NATP Tax Communications​
12/6/2013 10:35 AMNo
Picture Placeholder: Megan Sonicksen
  • Megan Sonicksen
09/30/2013 8:56 AM

​Please use this discussion board for discussions specifically relating to the Chapter, state or local tax discussions.

For general discussion items relating to business management, federal tax or education, please use the discussion board located under Member Center>Community.

9/30/2013 8:56 AMNo

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