Insurance Claims Report - last 3 years11.

Hi everyone,Has anyone dealt with sellers who didn’t disclose an insurance claim?

They should also be able to effectively tell you why the tenant has not paid or when the tenant is claiming they will pay. 

We "claim" to be the best in the universe haha

Claims come in all shapes and sizes, and a myriad of circumstances.

Since the house was already going to be a rental when we moved to the next, I decided to claim rent, depreciate it, and expenses.  

Normally in a spot like this, we would recommend to a client that you sell your primary residence and claim your capital gains exemption under Section 121, but you have two strikes against you: (1) you have not lived in this property long enough to qualify for that, and (2) I'm hoping you already claimed an exemption on the sale of your other primary residence a few months ago, and you can't claim Section 121 exemptions within 2 years of each other. 

If you didn't report your expenses for furnishing, repair, and renovation on your 2023 tax return, you may still be able to claim those expenses in the future when you generate rental income from your property.When you do start earning rental income and need to report it on your tax return, you can deduct eligible expenses associated with renting out your property, including the costs of furnishing, repair, and renovation.

You can use a Quit Claim Deed and that can be rejected when you go to sell the property.11.

My W2 is higher than 200k and I own 2 rental properties “ one paid off and one with mortgage and I just found out that I can’t claim all real estate loss if it I exceeds 25k and my cpa suggest me to put one of my properties into LLC so I can claim 100% of my real estate loss. but my question is do I have to switch the deed to llc or I can just open an LLC under my name?