To get accurate and up-to-date advice tailored to your situation, it's highly recommended that you consult with a qualified tax professional who can review the specific details of your syndication investment, your financial situation, and the applicable tax rules to provide accurate guidance.

Schedule E typically caters to rental income and certain types of passive income, while Schedule C is tailored for reporting profits and losses from a business or self-employment. 

Income Digs has great YouTube videos on how to tailor QBO for real estate investors if you're looking for a DIY approach or some education on it. 

They can provide personalized advice and guidance tailored to your specific situation.

However, with strategic planning and assistance from experienced real estate accounting professionals, it may still be achievable for part-time investors.Primary Occupation: REPS is primarily tailored for individuals whose primary occupation revolves around real estate management and investment.

Schedule E typically caters to rental income and certain types of passive income, while Schedule C is tailored for reporting profits and losses from a business or self-employment.

They provide peace of mind knowing that your taxes are prepared correctly and can defend your filings if questioned.Benefits of a CPA for High-Income IndividualsTax Planning: CPAs do more than just prepare your taxes; they can offer year-round tax planning advice to help reduce your tax liability through strategic decisions about investments, deductions, and other financial moves.Customized Advice: A CPA can provide tailored advice based on your specific financial goals and life situation, such as planning for a child’s education, buying or selling real estate, or planning for retirement.Decision FactorsCost vs.

But they all suffer from the same over-arching problem that Quickbooks has, which is that they aren't tailored for our business and can't handle some of the unique bookkeeping aspects we have like needing to split mortgage payments and import transactions from a property manager. 

The rules are less complex, there aren't any fees (at least at Schwab), and more tailored for small businesses; however it doesn't allow for quite as much in contributions ($14k in 2022).  

There's many ways to be successful in real estate and depending on each investor's income/age/situation/approach/knowledge, their approach should be tailored to them.