You should not have claimed the credit until you did move in.You should amend the 2010 return to pay it back AND you should fill out schedule E which you should have done anyway for each year to report the income.It sounds to me like you have a few issues going on.

The economic analysis reports on if/when Boeing leaves would leave the market stagnated, and in my opinion devastated.

I always fill out a detailed report ahead of time (i take a couple of hundred high resolution photos date stamped as well to document condition), then go over it with the tenants when they arrive.

As reported, many have changed hands a couple of times since then.The current "down cycle," as reported in the Republic, has lasted over 6 years.

That means you must at least file Form 1065 US Partnership Tax Return.All incomes and expenses will be reported on this form and that income will pass through to the both of your personal tax returns based upon your ownership percentage.The limit is different for one person versus married.Your biggest mistake is using a program to answer your questions.I represent taxpayers(individual and business) before the IRS.

We can meet up if you want.PS: Thank you for the propertyshark report last week.

Since I sometimes had to pay for the water, I told them to immediately report leaks/drips, I fined them $50 once for not telling me the toilet valve was not shutting off.

If it's a bigger project, I suppose you might need a structural engineer to weigh in with a report.

There technically does not need to be a partnership return prepared as a rental activity can be reported separately.

The Cromford Report is a great source of information on our market as well, and is run by a great mind that heads ASU's real estate department.