James Montague
What to do when Leasee couples break up & want to alter the lease
What do others do?I let both parties on the lease know I am happy to amend the lease to remove one of them, but they will both need to sign it to release one party from the lease.Anyone else dealt with this before suc...
Suhaib Rehman
File amendment to claim passive activity loss in investment property being a Realtor
Good day Everyone,I am a professional in tech, my wife is a realtorI bought the house last year and incurred a net loss. When I filed taxes using turbo tax, I filed Schedule E but there was no form 8582 which is to d...
Paul Weller
Amending a HOA declaration to allow short term rentals
Hello all,I own a condo in downtown Bellevue, Washington. I have been running it as an airbnb/short term rental for about 4 months now and it has been very successful. Now here is the problem... another owner got wo...
Steve Nowak
Prohibiting smoking in condos
I own and rent out a condo unit, and also serve on the condominium's governing Board. A few years ago, we changed the rules to prohibit smoking in common areas, including exclusive-use common areas such as patios. T...
Maggie W.
Forgot to enter $4k in HOA fee expenses last year. Should I amend or lay low?
For some reason, the $4k in HOA fees I write off every year are not on the 2021 return, as I'm reviewing them and doing 2022. It appears to signify $800 additional taxes out of my pocket for 2021. So which is a bigger...
Erica Hill
Tax advise needed on 5 year old rental property
I purchased a single family home in AZ in 2013 for my mother. I resided in MO at the time. My mother pays rent but the house is in my name. I never registered the property as rental in AZ (I didn’t know I needed to) n...
Marlie Evans
Bonus Depreciation, safe harbors and Partial asset disposition
Now using the de minimis/routine maintenance safe harbors instead of bonus depreciation for appliances, carpet and the like. I don't understand why my taxes go up a few bucks when I change move an item (a kitchen appl...
David Osborn
Accelerated depreciation question
I bought and furnished a new rental property in 2019. I did use bonus depreciation for the cost of furniture, but I lumped the property improvements (mainly new hvac, water heater, windows) in with the building and ...
Daniel Bryant
LLC Articles of Organization re-allocation question
My partner and I formed an LLC referencing a commercial property that we own together in NY, we used an attorney to draft the LLC partnership together at a 49/51 split. We now are looking to change that to a 50/50 spl...
Chad B.
Experience with buying homes on Hubzu?
Hello,
I recently won an auction on a home via hubzu.com. This is my first investment property! Has anyone had experience buying from Hubzu? The contract comes off very non-negotiable and very seller friendly since th...