We also allow users to amend a post at any time with additional information by replying to that post again, just like what happened here.We have no plans to change how the forums work as it pertains to the deletion of posts. 

Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.

The information contained in this post is not to be relied upon.

The reason I post this here is because I got totally different answers from two CPAsHere is the story:I bought the house as investment property and run it as STR for the last two years.

I wrote the above for informational purposes.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

Originally posted by @Oren K.

Any helpful information or suggestions are greatly appreciated!

However, when I requested our EIN the letter stated, "Based on the information received from you or your representative, you must file the following forms by the dates shown.

I came across some critical information today that I think is important to share with you:In the aftermath of the LA fires, it has become evident that some homeowners’ insurance claims have been denied or disputed because the property title was held in a trust, but the insurance policy was under the individual homeowner’s name.This serves as a valuable reminder to review your insurance policies and ensure that the ownership structure on your property title matches the named insured on their policy.