You have to complete Schedule E if you have rentals.You should check if the turbo tax premier version allows the filing of Schedule E.With that said, using a software like Turbo Tax will assume you to understand what is deductible.If you work with a tax professional, you are more likely to have an accurate return.

*This post does not create a CPA-client relationship.

And now back to your regularly scheduled programming...

I had to edit your post.

HI Daniel and welcome to BP.

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

We normally do not seek judgement due to the expense that is involved, even after you win you have to continue to renew the judgement every year.We put them in collections and have it hit all three credit bureaus.

So, I would always be wanting to use an appropriate amount of leverage to maximize my investments over the long haul. 2.

I'm new to this space and would love to connect with you to learn how to work with ALE.

Randy I am afraid rates will go up a bit after Powell's press conference as he may indicate that they are likely going to pause on fed funds rate cuts.