Don't classify people as felons if there wasn't a victim and I won't deny them rentals because the federal government classified them as such.This is hilarious honestly.  

Or, is this the sort of talk you classify as "running the mouth"?

The IRS classifies the profit portion as long-term capital gain.

post under classifieds area

A 10-unit apartment building clearly passes this test as presumably 100 percent of the gross rental income is rental income from dwelling units.How the bank classifies the building is irrelevant in determining the tax depreciation method.

I classify my boat with a value (what its honestly worth) and then any toys, dock fees, maintenance, boat depreciation, etc...goes into my boating expense category.

As a contractor, I would classify you as just "another cheap a** investor" and I wouldn't want to work for you.

Thanks.Your statement applies to SMLLC, but it does not apply if you file as S-Corp to IRS:Since you are a single-member LLC, you will initially be classified as a disregarded entity for the purposes of filing a federal tax return.If the only member of the LLC is an individual, the LLC income and expenses are reported on Form 1040 (U.S.

Sometimes you'll see distributions first classified as a return of capital and the preferred return second...this is done to reduce the preferred return by constantly lowering the investor's capital account. 

My brain is spinning thinking about splitting deposits, classifying properties, and creating custom reports, but if I can get it set up properly I can see it being a great option.