All Forum Posts by: Ian Heritage

We recently had a failed payment from Zillow to our bank account. We can see that it made it from the renters account to Zillow. No email notifying us of the issue and certainly no explanation. We opened an online case and they keep automatically closing them. There is no phone number for Zillow customer support. Given this is such a high profile company I’m shocked how bad their customer service is. I would not recommend Zillow for rental payments.

I am submitting my US tax return for 2011 & I have a house in the UK which I am renting out. As part of my return I need to enter the % of the building is worth versus the land for deprecation purposes.
The person helping with my return suggestes 80% building versus 20% land which I assume is some standard % in the US?
Anyway I'm not sure how to dertermine this for a house in the UK, but looking at my mortgage valuation I believe its more like 42% building verses 58% land.
So I would assume I should really go with the mortgage valuation as its probably more realistic, but what are the tax implications here?
I don't know the correct terminology here, but I assume I will be able to claim less loss back against the amount of tax on my earnings, but when I come to sell the house, the cost basis of the house will be higher meaning I will pay less tax on any capital gains.
Would apprechiate any advice - especially from those who have submitted a return that inclued a UK rental property.
Thanks :-)