Originally posted by @Jenna Waites:I know this thread is a few months old, but just FYI for anyone finding this considering Resimpli, the biggest issue I see with them is that their report options are TERRIBLE and they offer 0 customization to the metrics they do provide.On top of that they are a completely closed system so you can not pull your data out in any way to create useful reports or integrate with any other system.

If you are self-employed and do not report much income, you may also want to look at other NOnQM programs such as a Bank Statement Loan or P&L Only Loan.

Providing a lease to the appraiser can also help in giving them an idea of the rents that you're expecting on the report while also confirming that there is demand in the market already for the value that you set the property at.If you're looking to refinance a property using a DSCR I would be happy to help!

If a cost segregation study was performed, the accelerated depreciation may further reduce the property’s basis, potentially increasing taxable capital gains when sold.Depreciation recapture will occur when you sell the personal residence, so it’s essential to keep detailed records of all depreciation claimed while the property was used as a rental to ensure accurate tax reporting at that time.This post does not create a CPA-Client relationship.

Are you using a specific property management software to handle this automatically, or do you have a different system in place to ensure accurate tax reporting?

My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.

Did ask about specifics they are interested in and after 8 hrs of no response I reported it as spam.

Once fixed, the plumber confirmed everything was working 100%.Fast forward 3–4 days, and now multiple units are reporting toilet backups.

This allows you to report the rental income and expenses directly on Schedule E of your joint tax return, simplifying your tax filing process.

bump