Does anyone use software programs for their taxes? I currently have 2 properties one of which was purchased this year. I've always used turbo tax and would like to again but I am unsure if it will give me the best r...
Hi,
Unfortunately my regular tax professional's health has apparently been affected by COVID19. As you could imagine preparing tax returns is the last thing on her mind right now. I don't know when or if she will ev...
Hello all, Thanks to the BP site and community, my gf and I were able to start our real estate ventures this summer by purchasing a triplex in LA with an FHA loan. It was in bad shape so we took a private loan from my...
Can unused passive losses carried forward from prior tax years be used against active income in the current tax year, if the taxpayer has qualified per IRS rules to become a "Real Estate Professional" in the current t...
Does anyone have a recommendation for a tax professional for AirBNB/real estate/small business owners?
I've had a heck of a time trying to find someone since I moved back to Portland. Most of the popular/highly rated...
Recently, I received a rather rude email from my tax professional in response to an email I sent that simply asked clarification regarding a 1099. In short, he said he did not want to continue emailing me if he was go...
Hi! New to BiggerPockets, I look forward to helping members with the tax aspects of anything related to their activities as a Realtor, Appraiser, Lender, Real Estate Investor, or Other Real Estate Professional.I have...
I just received my tax return. I got killed because I’m not a “Real Estate Professional”. I’ve never heard any discussion of the importance of this qualification.
My husband and I own rental property together, we are both on the deed. My husband qualifies as a real estate professional for tax purposes. We want to use that to offset my income, as I am the higher earner (I have a...
If you qualify as a real estate professional and you pay your own health insurance premiums - are they tax deductible? My CPA says no - unless you create a company, pay yourself a salary, etc.
What about if you hav...