Is Self-Employed the same as a Sole Proprietor?

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  • August 19, 2014 at 8:59 pm #187901
    Anonymous
    Inactive

    I ask this because per the Wiley textbook for REG, a Sole Proprietor is not subject to 1245 recapture, and I’ve had WTB questions regarding Self-Employed individuals who are taking a 1245 recapture.

    I’m just trying to get my rules straight.

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  • August 19, 2014 at 9:09 pm #587569
    tomq04
    Participant

    A Sole Proprietor is self employed, but not necessarily the other way around.

    REG- (1) 76
    FAR- (2) 64, (5)74, (7)83 (Over achiever!)
    AUD- (3) 70, (4) 75
    BEC- (6) 75

    August 19, 2014 at 9:10 pm #587570
    Anonymous
    Inactive

    Gotcha. I guess that is why WTB is computing Sec 1245 recapture on “Self-Employed taxpayers”.

    Gotta love the wording of these questions.

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