If you are audited and the IRS looks at your 1031 and there is only your word against your actions, you're going to lose the audit.I totally get you wanting to avoid those nasty ordinary income taxes. 

To kickstart this project, a comprehensive home energy audit is on my agenda to craft a strategic retrofit plan that significantly enhances operational efficiency by 40-70%.This endeavor seeks to diverge from common quick fixes, such as installing baseboard heaters, which merely shift heating costs to tenants.

That letter will be placed in the file in case the file gets pulled for a QC or a Pre or Post Audit to detect mortgage fraud. 

I’ve been working on a budget, financial plan, profit & loss etc.. in doing so I’ve been “auditing” all of our bank accounts, line by line.

@Nicholas Aiola do you do audits?

@Daniel Cannon - here is some light reading, only a 154 pages from the IRS audit guide haha.

There's no grey area here and under an audit, this would easily be reversed.Originally posted by @Eamonn McElroy:@Michael Blank"I know a doctor who's been working with them; he's a passive investor with HUGE active income; Wealthabilty helped him figure out how to leverage the real estate depreciation to reduce his taxes."

Email complaintsFill out a Business and Professions Complaint form.Email your form and all supporting documents to [email protected] complaintsFill out a Business and Professions Complaint form.Mail your form and all supporting documents to:Centralized Investigations and Audits UnitDepartment of LicensingPO Box 1098Olympia, WA 98507-1098

Absolutely find another CPA that knows the STR rules and puts you in the best position possible in the event of an audit.

There must be something in the middle of my $376 TurboTax Premier (with audit protection) fee that I pay to do my own taxes (federal and 2 states that my rentals are in) and $10,000.