If your basis happens to be less than the distribution reported in Box 19A, the difference will be taxable to you.Yes, it is very confusing.

Sorry if that was confusing, I mentioned it because I've heard some banks will consider your assets when lending.

I am a little confused about what you said though.

I don't confuse living in real estate with investing in real estate.

@Tory Sheffer you should definitely get a trophy for confusing everybody 😏

The reason I am a bit confused is that once everything is done I feel like I will be in the same spot I started in...But thank you again for the advice.

Where I am getting confused are my conversations with my broker when it comes to financing the investment property under a company.

Describe parking and other shared-space policies clearly to prevent confusion or fights.

The confusion for me now is that some articles say that for a home to qualify as a second home the owner cannot rent it out for more than 180 days of the year while other articles say that it qualifies as a second home if the owner (a) uses it for at least 14 days of the year OR (b) the owner uses the home at least 10% of the days he/she rents it out (whichever results in the greater # of days).Sources: https://www.fool.com/millionac...https://www.valuepenguin.com/m...Thanks for your help.

I safeguard my portfolio from legal or operational risks.I have talked to few attires and CPAs and I hear so many different opinions that it really confuses me.