All Forum Posts by: John Malone

@Yelena Korshak given how the rules under 1.469 work, its a stretch but not impossible both of you could materially participate. Id check with your tax advisor!

@Angelo Cortez number 1 won’t work. You won’t claim REPS with W2. Dozens of tax court cases on this.

STRs could work if you have the time to participate properly and manage

@Pete Harper seems liks it but they should be able to confirm for you!

@Mo Casa no, there is not a “step up” upon transfer if that’s what you are asking. Ignoring everything else, the partnership takes the adjusted tax basis of the property

@Phillip Wilshire check out Horizon Trust

@Michael Plaks so agree on the last piece. If the providers are on a different cadence it can be a nightmare and this should be discussed ahead of time

@Katrina Dividina there are many firms that offer tax advisory and full servive accounting under one roof. Some like separate but others like one stop shopping!

@Matthew Kauk substance over form Re 10 different cleaners. IRS will view group as 1 (from experience).

There are certain hours that do not count. Thus its best to talk with your CPA early on as many are not familiar with the regs under 1.469 for “transient” rentals.

@Mary Jay yes feel free to send me a message!