Sam Tamayo
real estate proffessional classification
Hi, looking to claim the real estate professional for tax benefits. I have a variety of qualifying activities on a part time basis that will qualify me, but am thinking of adding LSA (loan signing agent) to the mix. ...
David Eisen
Tenants owing a lot of rent and Forgiveness of Debt
Has anyone use forgiveness of debt if a tenant leaves/evicted owing back rent money? A quick google search... If a creditor discharged a debt of $600 or more, you should receive a Form 1099-C from the IRS showing the ...
Brandon Yuan
Inspection for a 30 units Apartment
Hi all:I just got a 30 units apt offer accepted. Now here comes the fun (hard work) part. I have a few questions regards to physical inspection during due diligence that I'd appreciate some inputshould I just walk eac...
Jeri Herrera
Bonus depreciation and real estate professional
I receive $16500 in rental income for the year. I remodeled the rental property this year at a tune of $17000. I also pay the mortgage and 10% to a property management company. Because I have put so much time into ...
Kevin Kittilsen
Cost Segregation on Syndication to offset ordinary income
I am in the process of investing in a multi family syndication. The management team plans to do a cost segregation study (closing on property in 2022). My question is can I use the accelerates/ bonus depreciation agai...
John Morgan
Should I claim my wife as a real estate professional?
We have 25 SFR that I self manage. My wife retired a few years ago due to our strong RE cashflow. What are the advantages of claiming her as a real estate professional? We show a loss on the rentals due to depreciatio...
Joe Szymczyk
TAX Time...Deductions needed to get income down
Hello real estate peopleI have a situation where this year i have to pay to the IRS on taxes..Situationmy AGI income is 160k....work In IT for a big corporationi have 9 houses, i maxed out the deductions...repairs, su...
Azita S.
Do I Need to Issue MISC-1099s?
As an individual owner, do I have to send 1099 to individuals I hired to work on my rental properties? I know as a Corp or LLC, I do, but no sure as an individual owner if I'm supposed to send them 1099s.Thanks,Azita
Chris Marshall
What to do about gift taxes
I'm new to the investing world and I am getting my start because of a generous family member. They are gifting me property free and clear of any debt, and we are going to refinance the property and take on a loan to p...
Ron Steele
Inspection Report
Hello,
I'm doing an inspection of a multi family property, and I'm looking for a template or something to follow.
Thanks