Also IRS may not allow to convert the passive income to the Active income just transferring the rental Income from Schedule E to Schedule C, you'd better to have a LLC as the management.

@Randall E CollinsI would first speak with an SEC attorney specializing in real estate syndications.

I got my tax return, schedule E and my property due to depreciation, took a loss.

@Kent SmithYour CPA is wrong - you can deduct operating expenses against rental income to get to zero.If you have a net loss after this, that loss is NOT deductible and will be carried forward.Review Schedule E and it will clarify how this all works.Schedule E go to IRS site and take a look and also review instructions.Good luck.Arm

The same CPA told us since only my husband and I owned the LLC, we should file Schedule E on our tax return.

C/E shop, I’m with Samson and have been very happy, just a word of caution, it’s gonna run about 2k-3k a year just to pay for all your subscribers, mls, sentry etc, I suspect these will be going up substantially as a result of the agents leaving the industry, meaning the need to get more from the remaining, if you get your license make sure you have a use for it, like you will either have a decent client base and/or you are doing your own deals & will save money that way.

@E.

I've heard I might need an E-2 visa?

When you get a chance, send me an e-mail (it's in my bio) - let's connect and talk details to see if we can come up with something that works for you.

Money earned from renting out your property and the expenses from doing so are usually recorded on Schedule E of your tax return.