......Hi Lilly,Good Job, and having the taxpayers of Oklahoma pay the 3.5% down for you seems like a GREAT DEAL. 

NAR also signed a coalition letter(link is external) that would encourage Congress to provide readily accessible, unsecured credit to employers and self-employed individuals of all sizes to ensure they have the cash to pay their workers, rent, and other costs during this crisis:Suspend the filing of business returns and the payment of all business taxes to the federal government for the duration of the pandemic; and amend the Tax Code to, among other items, restore the ability of businesses to carryback any net operating losses against previous year tax payments;Suspend the application of the Section 163(j) limitation on interest expense deductions for tax year 2020 to avoid penalizing businesses for borrowing during this crisis; andSuspend the Section 461(l) loss limitation on pass-through businesses to allow businesses to full deduct any losses they incur this year.Essential Real Estate ServicesNAR is working with state associations, many of whom are reaching out to their Governors to request that certain real estate services be deemed “essential services” during emergency declarations.

@Elizabeth Zielinski Apologize if repeating with what @David Barnett mentioned above, but for example our area county assessor site says who the current owner of the property is, but also if you are able to view the tax payments due/made it will show the payment made or not made.

Reasoning behind it:I have a FEIE (foreign earned income exclusion) for the gross income, so that is taken care of.Plus, even if the loss (hypothetically) was say $6k and income was $6k, it wouldn't make sense to take the loss same year as tax payable would be zero even without the loss (based on the personal deduction).So to answer your question, yes I'm trying to carry it over, to use in a future year when the rental income is higher and expenses are lower to cover the income at that point. 

When I read through the guidelines, it said that the owner and taxpayer had to be the same, and I didn't see any provisions to complete what I'm asking.

Revised PC headline:Getting Rich on Government-Backed MortgagesA branch manager gets home loans for borrowers with weak credit or low incomes—and taxpayers back him up.[...article starts...]He calls back a customer who’s spent hours watching his sales videos: “Bad Credit, I Can Help,” “Fresh Start: Credit Boost,” and “Go For Your Dreams.”

As a result of an earlier IRS notice, first quarter estimated tax payments had already been extended to July 15.

The value to the buyer can add up to a very sizeable amount of money; typically pays the up-front lender fee to lower the interest rate, which results in accumulating paid interest savings for the buyer as long as the buyer owns the property, or for the life of the loan; may add up to many tens of thousands of dollars; make sure you check the fine print of the lender's loan lock provisions; be sure your seller's money is truly paying down the loan rate as opposed to paying other lender charges to the buyer.  3.Seller-Funded Temporary BuydownsBuydowns can also be structured to adjust the buyer-paid interest rate for a limited number of years; can cover the first two, three or four years or more of the buyer's loan; allows your seller to reduce the buyer's ongoing loan cost (monthly payment) considerably.4.Owner FinancingA willing seller may be able to keep their selling price intact by offering financing to a buyer; for a seller who needs to sell as soon as possible for the best possible price; expands the potential market for buyers to those who might not qualify with a lender for any number of reasons relating to their credit, verifiable income, or other issues; seller creates an 'investment" that can produce an annuity with a very good rate of return for many years; seller needs to become very well educated on how to qualify a potential buyer (how to get credit, income, debt ratio, and other accurate personal historical data on the buyer-and how to verify that data); seller needs legal advice to review contract documents, as well as title and escrow services to conduct a title search and closing; buyers attracted to seller financing may have income sources including part- time work, bonus income, royalty income, dividend and interest income from investments, or they may be newly self employed; seller who finances needs to get a substantial down payment and ensure that the property is adequately insured by the buyer and that initial property taxes are pre-paid and a tax payment plan is established; if the buyer stops paying, the seller will have to proceed like a bank or other lender and foreclose on the buyer. 5.Contract for DeedA contract for deed agreement to purchase is similar to a seller-financed purchase.

The purpose of this tax is to level the playing field for tax-paying businesses and prevent tax-exempts from driving them out of business.When you add debt-financing, which introduces its own layer of taxation, forget about it.Being a lender to other flippers with the IRA is the better approach, as interest income is passive in nature and not subject to taxation.

The Section 179 system requires the taxpayer to choose and specify which assets are being deducted under section 179, in the first return filed for the year, or in an amended return filed within 3 years of the return due date.