Stacey Schwartz
Depreciation value for rental in owner occupied 2 family
I'm new to this. Bought 1st home as a 2 family fixer upper last year. Taxes are in progress but I am stumped on factoring depreciation value on the rental property. How is the depreciated value calculated for an owner...
Justin B.
Multiple Property Accounting and Tax question
We've got several properties now and will have a lot more by the end of the year. Does the IRS care about individual property reporting or can you just combine when filing taxes? Accounting and tax filing is time co...
David Rutledge
CPA specializing in short term rentals?
Hi everyone,My wife and I have shifted our business to acquiring short term rentals over the past few years. We have always used a traditional CPA but with 8 short term rentals and 3 long term traditional rentals we a...
Adam Milewski
Waikoloa Beach - Hawaii
Considering buying a short term rental - wanted to know if anyone here has had any experiences, good, bad, ugly? The financials look pretty sound to me. HOA's are high, but overall seems like a good bet on the outs...
Anand Bhaskaran
Taxes related question
Hi All - I have a general question with regards to Rental Property & Tax filings... I am a resident of California & if i purchase a rental property in IL (with rental income coming in from IL state)...
Do i ...
Ariel K.
Tax on real estate income
I just have some general questions about taxes on real estate income:1. If I turn a profit on real estate, what tax rate would I pay? Long term capital gains? 15%? 23.8%?2. Is there a way to always avoid taxes even af...
Kyle Westerman
LLP or No LLP
We bought our property back in January. Our goal is to buy a property a year so I thought it was a good idea to open a LLP to manage said properties. recently we discussed this with an accountant and he said there wer...
Steve Gume
Can my LLC own a new home and rent it to my wife.
I own a LLC(100% sole owner). LLC has been registered for real estate renting. This LLC owns a commercial property which is having a net income of $1000/mo today. Can I buy a new home in this LLC(bank willing to provi...
Robert Kriedermann
Investor trouble getting owner occupied loan for the purchase of a home to move into.
I'm trying to get a purchase loan to occupy a single family house but because I'm a self employed real estate investor, I haven't been able to get banks to lend. I have a great credit score and can put a lot of money ...
Julie Groth
Form 8825 the correct one for STR income?
I know STR income is treated as active by IRS (like a hotel) and I have S Corp. My accountant used form 8825 (rental real estate income for S Corp). Is this correct? I would have thought it should appear in a differen...