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31 March 2024 | 1 reply
You also correctly noted the carryover losses from previous years, which can be used to offset current year profits.Based on your figures, your net income on Schedule E would indeed be $2,000 ($2,000 profit - $0 carryover loss for one property, and -$4,000 loss + $2,000 carryover loss for the other).Your concern about not being able to claim losses due to higher income (> $150,000) likely relates to the passive activity loss rules.
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1 April 2024 | 17 replies
On the box clearly label it "BOX E" Then try sending mail to your address, box E.
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31 March 2024 | 8 replies
As you may be aware, it's possible to remove the lien according to Title 28 U.S.C. 2410(e).
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1 April 2024 | 10 replies
@Ashish Acharya, @Basit Siddiqi, @Natalie KolodijThought that a single member LLC doesn't require a separate return and everything flows through to the 1040 Schedule E?
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1 April 2024 | 14 replies
Quote from @Scott E.: Yes, very common from a broker to ask for an LOI before sending financials.
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2 April 2024 | 49 replies
Originally posted by @Lynnette E.
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3 April 2024 | 83 replies
Half the time the appraiser thanks me for getting half his work done for him)And then it's very mundane - I get his e-mail address, the best phone number to call if I need to get in touch with him, and then...
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29 March 2024 | 21 replies
Quote from @Randall E Collins: Quote from @Chris Flynn: Have you ever posted the property on Keyglee?
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29 March 2024 | 20 replies
I absolutely love this post the mans got a valid point we aren't selling an e-book or a chance to win a free cruise to collect e-mails.
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29 March 2024 | 8 replies
You'll find that you can categorize expenses to match the Schedule E you'll need when you file your taxes so it makes EOY accounting very easy.