Merv Screeton
State to State tax calculator
I see a lot of articles on which states are the best or worst for taxes. The answer varies from person to person depending on income level, source of income, primary residence value, amount of consumer spending etc. H...
Kevin Luttrell
Forced to take $25k passive activity loss deduction?
Hi All! Hoping someone can help me with this question. For the last couple years I have had losses on my tax returns from passive rental real estate activity. I am not considered a "real estate professional" by the IR...
Mary Joe
FLORIDA out of state investor need to file Florida return?
Hello, Florida is NOT my home state, I have a rental property in FL, do I need to file FL state return? Turbox Tax prompts me to start a FLORIDA return but I am not sure if this is really necessary for out of state...
Katie Bustos
House hacking taxes?
We are buying our primary residence and it will have a 1 bedroom garage apartment in the back. We will start by renting this out to my father in law. Is this considered a rental property? Is there anything we need to ...
Samuel S.
Buildium vs Quickbooks; Use both?
Hi BP folks,Just looking for input on whether Buildium (or any other PM software) can/should be synced with QuickBooks ? I've been reading a lot of threads on here pertaining to which property management software wor...
Satish Subramanian
Recommendations for CPA and Attorney
I went under contract for a 3-flat in Jefferson Park that closes in a few weeks. I’m planning on living in the top floor with my girlfriend, but purchased the whole building solely under my name. Not sure how deprecia...
Dewayne C.
Needing suggestion on app for bookkeeping on rentals
Hoping to get some suggestions on apps that help in bookkeeping on rental properties. I have 40 rentals. Some rent and some rent to own. I need an app that will help me with my tax forms at the end of the year.
Adam Beaumont
DIY taxes through TurboTax, or use a tax professional.
This is my first year owning a rental property. Therefore, this will be my first year doing taxes on the property. I only have the one property. What does everyone recommend on filing the taxes? Use a tax software...
Whitney Leighton
Multi Unit Tax Questions
Hi, folks-
I'm working on my 2020 taxes and I have a few questions. Last January (1/10/20) I purchased a 4-plex. I occupied one unit for 7 months of the year (March-October). In 2020, 2 of the units were rented for t...
Tabitha Grey
New Member in KS
Hi! I currently live in KS after moving from FL - we were unable to sell our former primary home in FL and decided to lease it out vs leaving on real estate market. We have been unable to deduct ANY real estate rental...