Property management is managing it and giving check on the name of property owner who is Child LLCprior cpa was filing taxes under Parent LLc as the child LLc is a pass through entity.

Hi Everyone,I am a tax lien investor buying tax liens from various different municipalities in NJ OTC.

Ok… so I understand tax lien investing as a race to the bottom.

Is he required to issue me a 1099 form for rental income for 2023 taxes?

@Mary MitchellHi Mary, I know it's going to take a bit of work to really grasp the IRR concept.There is a really great book out there: What Every Real Estate Investor Needs to Know About Cash FlowYou can buy it for under $5!

I am wondering if I can save some money and just do the tax myself by using TurboTax Business, especially because it's the first year of LLC with only a couple of expense items? 

However, in my market a nice unit can easily collect $120,000+ in rent (not taxes, fees, or other pass through costs) and when the locals demand 35% commission my 20% is a steal and isn’t a whole lot more work for the 25k+ a year I’m making per property.

And another $200 in property tax.

Selling yes. 1031 in a perfect world yes.If you can find a property and meet the time lines then yes.I have done a 1031 and it worked out great.I have also just sold paid the tax and put the money in the bank to have working capital to deploy on my timeline.

The reason is that you are paying a 10% withdrawal penalty AND income tax on the money.