Filing a Complaint3.

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

It is also the seller's fault for accepting it, they full well knew this was not right.If you were to file for eviction for non-payment of rent, you'd probably win.

It's a one time free filing made to the FINCEN. 

They hold title, and the mortgage and promissory note were attorney drafted and filed at our local county. 

I got a 1099-INT from him to file my tax, which I paid a big portion out of 8% (effectively around 6% after paying the gov). 

We have to file the paperwork for the DC complaint.

I assume this income/loss is passed onto your personal return through a K-1 and the business files a 1120? 

I think you should explore local and non-local CPAs before making a decision.

If anyone files for Florida it is 10 times more confusing than Tennessee.