Quote from @Scott E.: Great topic.

If the rental is passive, you can probably muddle through Schedule E on your own.

Also IRS may not allow to convert the passive income to the Active income just transferring the rental Income from Schedule E to Schedule C, you'd better to have a LLC as the management.

@Randall E CollinsI would first speak with an SEC attorney specializing in real estate syndications.

I got my tax return, schedule E and my property due to depreciation, took a loss.

@Kent SmithYour CPA is wrong - you can deduct operating expenses against rental income to get to zero.If you have a net loss after this, that loss is NOT deductible and will be carried forward.Review Schedule E and it will clarify how this all works.Schedule E go to IRS site and take a look and also review instructions.Good luck.Arm

The same CPA told us since only my husband and I owned the LLC, we should file Schedule E on our tax return.

C/E shop, I’m with Samson and have been very happy, just a word of caution, it’s gonna run about 2k-3k a year just to pay for all your subscribers, mls, sentry etc, I suspect these will be going up substantially as a result of the agents leaving the industry, meaning the need to get more from the remaining, if you get your license make sure you have a use for it, like you will either have a decent client base and/or you are doing your own deals & will save money that way.

@E.

I've heard I might need an E-2 visa?