Wayne Solum
Amortized loan aquisition costs for tax return
I'm trying to do my 2015 taxes. I bought my very first two rental properties towards the end of 2015 so I have no previous experience with this. From what I understand, loan origination costs cannot be included in t...
John M.
Lending Advice, 2 years of tax returns
Hello,I am a small business owner who is in the process of shutting down one business and building a new one. I also have 3 properties that are cash flow positive and humming along that I purchased about 2 years ago....
Andrew B.
Long term capital gains and tax returns....
I know this is a Q I should ask my CPA, which I dont have yet but, when one has to pay long term capital gains on a property that was purchased as a second home, is it possible to claim any expenses for fixing it and...
Jon Jacobs
Tax returns for LLC holding real estate
I own a property through an LLC with 5 partners. I know I need to prepare form 1065 and K-1s, but I can't figure out how rental income/expenses fit into Form 1065? Is rental revenue my sales, where do operating expens...
Kevin Lefeuvre
Cash out loan needed. No tax return.
A relative of mine is looking for a cash out loan on a $700k clear property in Southern California. He's being offered 5.1% ARM 5/30 (5.1% fixed for 5 years then adjustable for another 25 years), with LTV 60%. No tax ...
Walter Correia
Tax Time! What is the best way to maximize tax return?
My wife and I are planning on filing our taxes soon. We currently live at our owner occupied multi family and put in a lot of money into it this past year. We're looking to maximize our return. My question is, are we ...
Jeff Spahn
Are Tax Deed Properties able to be depreciated on Tax Return ?
I have a number of Tax deed properties are the able to be depreciated on tax return ? Can you include cost to make properties live able for renting ? Any information on this conversation would be appreciatedThanks and...
Debasish Bhattacharjee
Rental repair invoice without tax id - is valid for tax return?
I have a rental property improvement invoice with no tax id. The handyman refuses to provide his SSN. The worth of repair $5.5K. Is the receipt valid for next year's tax return in California?
Jeffrey Fung
1040 Tax Returns - What amounts do you use for Property Tax
When you guys are filing property tax amounts for rental properties, what figures do you use? For example, let's say I am filing for 2023: 2022 -2023: Installment 1: $5,200 Paid Nov 2022Installment 2: $5,200 Paid Apri...
Chris Latham
California income Tax Return and IRS 1040 Preparation
Our CPA Tax guy in Covina, California is reasonable and specializes in Real Estate. But he has not been able to prepare my Tax Return for 2017. Now, it's September and I really need to get it done because Covered Ca...