Adem Tahiri
Depreciation on tax returns (rental property)
I sold a rental property this year and have to account for depreciation I took in prior years. Which form of my prior years tax returns would have the correct amount that I should account for recapturing now that the ...
Mario Nacev
Running #s on a charitable donation
Hello I am hoping someone can walk me thru the following hypothetical situation:Property purchased by an LLCRented to Charity for: XRental Income contributed back to Charity 100%: XPlease describe what this would look...
Rich Hupper
paying down a 30 yr fixed mortgage
Hello I know that these loans have predetermined payment schedules for every month of the 30 yr note. My question is what if I make a large principle payment? Will the large principle payment allow my next regular pay...
John S.
House Hacking - Lender not considering rental income in basement?
Hey guys, fairly new real estate rookie here:I'm house hacking and I ran into a bit of a crossroad, here's an explanation, I hope one of you gurus can assist me as I'm not sure what to do at this point. I want to use ...
Jimmy S.
Did my accountant screw up?
Long story short............. under my schedule e he put 365 days fair rental days when I purchased the property 8/20/14 and was really only like 120ish fair rental days. Now I cant use any of that income under Fannie...
Mac McAtee
Self Employment Tax On Rental Property Income-HELP 1 Day Left
I have a two member LLC that owns a small apartment building. We file Forms1065 and 8825. Don't file Sch. E, it isn't necessary when you file 8825.
The income from rent shows up on Line 17, Form 1040.
Since the i...
Kade Honaker
House Hacking Tax Write Offs
Is there anything I can get a tax write off on if I am house hacking such as repairs or maintenance? Can I depreciate the property considering it is in my name and not under a LLC?
Pandu Chimata
Tax categories on a vacation home expenses
Hello tax gurus, How are you folks doing?
Background: In this year, I bought a house in CA for an vacation rental in Airbnb and VRBO. Its going good so far. I spent close to 25K in setting up as an vacation rental. ...
Tracey Hamilton
Tax reporting of a single flip property vs business LLC
Hi All! I am wrapping up tax prep on my extension for 2018. I am thinking creative thoughts about how to handle the real estate flip project that we began in 2018 and completed in 2019. Let me know how you all thin...
Benjamin Hall
First time buyer advice needed.
Hi everyone!I'm a Brit, living in the middle east and am married to an American. We have secured financing from the middle east in order to invest in my wifes hometown in Indiana, so from the buying point of view, we ...