Home went to tax sale county kept excess proceeds.

@Michael James Hamlin I'm a former tax accountant/business consultant turned fix n flipper and investor friendly agent. 

I'm talking about tax season! 

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.

u can see these homes on my website. also if there is any way to manage it.. if you can figure out how to get paid as a WA resident you will enjoy the same no income tax status you enjoy now.. 

FHA loans typically require the property to be a primary residence for at least one year, so he should confirm compliance with his lender.Once rented, he can deduct expenses like mortgage interest, property taxes, maintenance, and depreciation starting from the date it's available for rent.

Account ClosedI recommend that have a consultation with your tax accountant and/or financial advisor on ways to reduce your taxes. 

This is a screenshot from a private Facebook group for tax professionals.

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

And she’s the one that released the latest tax rates and year to year comparisons in September of 2024.