Quick back story is I am a Missouri resident that sold a Maryland property in June 2023, I've e-filed my federal and MD tax return as of the first week of April 2024.

Honolulu City council passed the bill but a federal judge quickly issued a temporary injunction and later a permanent injunction stating that the bill was unconstitutional.  

Man's got a tough job. not only that the MLo and federal NMLS test are quite a bit tougher than the RE agent/broker tests If one has never been in the lending industry.. its not as simple as 22 hours and go pass the test.

I can certainly see what you mean about using SALY as a friend for most years, but unless you want to stay current on all the state/federal income tax laws, you may want to seek out a professional every few years to double-check.

Federally, you're likely to pay 15% on the gains. 

so far smoking is not a protected class.I'm guessing the medical marijuana issue will evolve over time, especially if it becomes legal at the federal level.

@Joseph Hammel get a free version of the online federal tax prep software available from a number of vendors.

LLC member (Limited partner from a legal standpoint but with management duties)Becuase of the LLC's limited partner's confusion, under the proposed regulations, subject to an exception noted below, an interest in an entity would be treated as an interest in a limited partnership under Code Sec. 469(h)(2) if:-the entity in which the interest is held is classified as a partnership for Federal income tax purposes under Reg § 301.7701-3; and-the holder of the interest does not have rights to manage the entity at all times during the entity's tax year under the law of the jurisdiction in which the entity was organized and under the governing agreement.

In most cases, tax liens are in front of all liens and mortgages, with Federal lien first in line should there be any.

There doesn't seem to be another option. 3) Do my spouse and I have to file two separate NPT returns for the rental income as we are joint federal filers?