I have a LLC with my wife and I listed as members under the Articles of Organization. Does the IRS consider this LLC as a sole Proprietorship? Also, since it's a pass through entity, I don't need to file a separate re...

Hello All, There is lots of talk on here about Passive Losses and if there are deductible or not and if so, to what amounts. To my understanding, if you are NOT a 'Real Estate Professional' (which I am, but have never...

I recently sold an investment property and buying a restaurant building in exchange through 1031 . The relinquishing investment property was on my name which I bought many years ago. Now that the investment has grown ...

My wife & I own an Air B&B, and run it as an LLC in a non-communal property state. I just want to make sure we are doing this right. My understanding is we need to file a 1065 to generate K-1s. If we plan on f...

Hello,My wife and I are working on purchasing our second rental house in Michigan. We are also working on setting up an LLC. Would be it more advantageous to put us as co-owners as part of a multi-owner LLC or just ha...

I've used a CPA in the past, but I've learned that I can handle most of my personal returns by myself.  With the IRS adding tons of money to audit enforcement, will a self employed tax return with various real estate ...

We currently have 5 conventional loans in our name and I met a portfolio lender that tells me that we should start using commercial loans to avoid soon being stuck with DTI problems. I want to Refi out of 2 additional...

Hello, I have been involved with RE for a good while now but was contemplating having a Tax group help out with my taxes. I have done them myself for over 20 years and have properties in multiple states. I have always...

Hello BP Family,My CPA has filed  combined rental property LLC to my personal property . When I asked to file LLC account separately from my personal tax return,  he says it is not necessary. 

How is one taxed differently on rental income compared to income from a note?
Thx
Eric