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What type of schedule or where do you show wholesaling income on income tax documents?
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Hi, this is the first year I’ve processed security deposits through apartment.com and I see that they’ve included security deposits on my 10-99k as income. I set the payments up as “deposits” in apartments.com so I’m...
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Pretty self explanatory question but anything I might be missing here? I found a profitable property already on AirBnB that works for my numbers. What are the drawbacks to this approach, if any?
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I've been house hacking for over six years-- it's been a great source of side income for me and I've hit a wall when it comes to increasing my loan pool due to my debt to income. My loan officer says I need to report...
I am trying to create an LLC for the 3 properties I own. I spoke with an attorney briefly and he mentioned that as the sole owner of the properties and the LLC, I don’t need an operating agreement or EIN. Is it recomm...
We are 3 brothers that are looking at getting into real estate investing together. We would like to get community input on how to structure this investment. We are at different levels with regards to cash on hand and ...
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Just curious if the loan product used impacts how one files taxes? Example, if we use a 10% down second home loan but are planning to use the home as a STR, does IRS know or care how it was financed or just how we re...
Hi all, Last year was the first time I started flipping houses.. on one of my houses I took a pretty hefty loss after selling it and was curious what avenue I take (what form/schedule...) that I utilize to file for cl...
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I started an LLC in late 2018 as a domestic partnership between my mom and I. When we opened it, we got the EIN and notice from the IRS about filing form 1065, which is standard. Fast forward to tax time, we own anoth...
Hello,A prospective tenant self reported income in Zillow rental manager that's 3x times more than rent. Can I ask for past w_2s and paystubs including a copy of driver's license?Appreciate your inputs Thanks