If you're a cash method taxpayer, revenue not collected isn't a deduction. 

And it will end up tying the two of you together as that entity would become the tax payer fo the property. 

Way cheaper to cut corners on actual tax payers and continue the screwings, but hey, they've starved people long enough that I'm sure they'll be happy for anything. 

I'm not going to use the terminology properly but I imagine some form of the section 121 gain exclusion on the sale of a primary residence would apply to descendants if the inheritance exclusion goes away.The Biden plan only increases capital gains on taxpayers with income in excess of $1 million. 

Since this is a multi member family LLC it is a taxpaying entity of itself. 

Most case law always takes into account specific circumstances.They and their S corp are two different taxpayers. 

I know the purchase for the new property has to be in the name of the same taxpayer of the first property, but what if for the purchase of the new property there is another potential investor.

@Julie Smith There is a requirement called the same tax paying entity requirement when you are engaging in a 1031 Exchange.

A non-resident owner must also provide a form W-8ECI to the rental agent (property manager) and obtain a tax payer identification number.

Hello all,Does anyone know if being a dependent taxpayer affects you in buying a rental property?