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Updated over 7 years ago, 05/06/2017
Seller Doesn't Have Schedule E?
I have a 4plex in contract now and we are trying to verify all the income and expenses. The buildings held in an LLC and we've been asking for the schedule e but the sellers told us "We don't file a separate tax for the company. It's an addendum to our personal tax."
They've sent us all the lease agreements and P&L from their management company. Is there something fishy going on I should look out for?
Thanks!