Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago,
CPA with experience in out of country investment properties
Hi, I accidentally became a REI last year. In March 2023 I purchased property in Cancun then I started renting it on Airbnb. I also started renting an ADU on my home in Colorado to a long term renter. 2/2023
I had no intention on becoming a REI but it appears i am one. Now I need to get in touch with an experienced CPA that can help me setup any legal entity i might need to properly report all rental income and pay taxes on the Mexico property and the Colorado property.
At this time I have no intentions of adding properties or continuing to invest, I just want to get legal.
Thank you for your recommendations.