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Partnership · TX · tax year 2026 · Austin, TX · contact Ana Villarreal, Controller

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Step 8 of 8

Gap check

Here is what is still missing. Everything else is ready to run.

Pecan Grove: job cost ledger not connected (Buildertrend sync pending), so cost seg is a benchmark estimate
State rate not entered (Texas has no income tax; confirm 0%)
state marginal rate 0% is a PLACEHOLDER: enter the builder's rate in Settings
2025 is before the plan years, so no 1-year carryback of 2026 general business credit is modeled (39(a)(1)): CPA checks the 2025 return's room
38(c) tentative minimum tax: for 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050, 2051, 2052, 2053, 2054 the credit limit takes TMT = 0 (an upper bound on credits used) because owner AMT inputs (net capital gain and qualified dividends; optional ISO bargain element, private activity bond interest, 56(a)(3) contract and other adjustments) is missing or not coded, and energy-efficient home credit is not a specified credit (38(c)(4)(B)), so AMT could cut the credit used each year: CPA review on Form 6251 / 3800 at the owner level

18 questions for the CPA

the small-business gross receipts test small business status assumes the gross receipts entered include every person treated as one taxpayer under the small-business gross receipts test(2) (single employer under 52(a)/(b) or 414(m)/(o), e.g. commonly owned framing, supply or other building entities). Confirm the aggregated figures before relying on the cash method, inventory cost rules, 471(c), the home construction contract rule(1)(B) or 163(j)(3).
What authority governs building cost on converting builder inventory (FMV rule)?
For a project begun before 2025-01-20 and placed in service in 2025-2026, can any personal property components be treated as separately 'acquired' after 2025-01-19 (component election under Notice 2026-11 sec. 3.05 applies to larger self-constructed property that is itself qualified property)?
Is the taxpayer a small business exempt from inventory cost rules and 163(j) for this year?
For projects straddling 2025-01-19, is the component election or a separate-property argument available for later-installed personal property items?
Should the client elect 40% under bonus depreciation(10) for 2025 (e.g., to use expiring credits/NOLs or smooth income)?
Do any project LLCs allocate >35% of losses to non-managing members in loss years?
Will growth push the group over the threshold within 3 years, and is the round trip worth it?
Is each entity the eligible contractor (owned and had basis during construction)?
Which multifamily buildings meet PW and apprenticeship rules and have Form 7220 support?
Firm retention policy vs client retention policy
How are earnest money and customer deposits treated under the chosen method?
Is the builder required to keep inventories for materials (see inventory_471c)?
Which entities count as real property trades for the half-of-services test?
Joint-return rule text for (c)(7)(B)
80% loss carried forward limit interaction with future-year planning
Is the client under exam or in Appeals?
Any change made in prior 5 years for the same item?

Current estimate with these gaps: $847,044 (moderate, after fees).

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