Stephanie Cristiano
Offset K-1 capital gains (RE syndication) with passive losses?
We have large unallowed passive losses carried over on 8582 (from several years cumulatively) from various real estate syndication deals reported to us on K-1s. For the first time in 2019 a few of those assets have e...
Zak Klobucar
Tax Deduction General Questions
Just wanted to get some general information on tax deductions...nothing in depth, want to make sure I'm not completely off with my analysis.
When buying a property, there are a lot of items that can be deducted at t...
Amina Sanders
Buying my First Deal, HELP!
Hi BP!My husband and I are getting ready to purchase our first deal. The lender needs to look over our taxes. We haven't done our taxes for 2017 yet will be filing this weekend. My husband is a 1099 employee and usual...
Jim T.
Deducting State Income Tax for Rental Income
This question is not really for me because it won't make much difference for me but I want to throw it out there to see if the tax experts can weigh in. Perhaps it would be helpful for others.Can you deduct the state ...
Ada Tor
Does AibNb/STR income qualify for new mortgage?
Specifically, if it's NOT your primary residence?Anyone has experience with this yet? Seems like legislation is just now starting to catch up but after doing research, I still couldn't find a clear answer.
Andrew Schultz
How do you categorize property expenses?
How do you break down your property expenses in to categories? For instance, Repairs, Bank Fees, Utilities, etc. I'm looking to improve the chart of accounts that I use to give the property owners I manage for a ...
Curt Smith
How to file taxes on a sandwich lease option
Hi Guys, I searched BP for tax prep help, didn't find any tax prep helps for a sandwitch lease option.Bought on a lease and option. Zero option fee, lease is the sellers mortgage payment: $798/mo. I pay for fix ups...
Shane Clarkson
Taxes taxes taxes taxes
Hello everyone.
I’ve came here today in hopes of getting a few questions answered.
Does anyone know of a good free public forum where I can get help when I have a question about my taxes? I’m looking for the kind o...
Buddy Holmes
Tax audit Experience
As a retired graduate level engineer, I have always done my own Federal and State Tax returns. Albeit for a couple of dozen years now I have used Turbo Tax to prepare and file returns. I have always tried to underst...
Jon Kim
Bonus Depreciation for STR then LTR?
Hello everyone, hope all are well, I'd appreciate insight on a question- if I take bonus depreciation after a cost segregation study in a year, then do STR and it's just not for me, can I then convert to long term lea...