Victor Alfonso
Tax Prep Handling on Partnership Properties
Hey Y'all - Long time BP lurker, minimal poster. I purchased a couple of SFR properties in Metro Atlanta in 2022 with a partner and had a couple questions regarding the tax preparation for them. In the first scenari...
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...
Lesley Resnick
When do I need to generate a 1099?
Could someone clarify when I need to issue a 1099?1. I hire a contractor to install A/C in my rental.2. I hire someone to rake the leaves in the yard.3. I hire a landscaper to mow the lawn every week.Is an invoice ...
William D Schablowsky
TIC Deed between spouses after one does 1031 Exchange
My wife and I are looking to purchase property (vacant land). We are looking at purchasing 80% of the property by doing a 1031 Exchange by selling another parcel of vacant land. We have a buyer for the property we a...
Karen Johnson
Car Drove Into My Rental Property
Good day,I will be researching other posts on this topic as well, but appreciate any help I can get.Tenant texted me last night to say that someone drove their car into my rental property on Saturday night. Would have...
Mohabub Miah
Buying multi unit property under a corporations
Is this possible, can a person form a corporation and buy a multi unit property under the entity. With a down payment of 20%, also the buyer can guarantee the loan just won't show on the credit report. I am trying to ...
Andrew P.
2 Partner LLC and paying Taxes
Hi All,We own 23 units which are starting to turn a profit. There are two of us that own the properties in a LLC (also the %ownership is not 50:50). How does everyone go about paying taxes? Do you take the total out o...
David Comeaux
[Calc Review] Help me analyze this deal
View report*This link comes directly from our calculators, based on information input by the member who posted.This is a report I created using the BP calculator on a 5 door commercial rental property...
Sanjay Gupta
TurboTax Home and Business
I flipped property in 2017. We had two partners and used our personal name when buying. At time of buying, we did not have LLC setup.later on we have LLC and LLC taxes are taken care by CPA.How do we report sale of pr...
Jeff S.
Beneficial Ownership Information Reporting (BOIR)
Beneficial Ownership Information Reporting (BOIR)Have you heard about this? This is from my accountant.
We are writing to you regarding new reporting requirements for many businesses, including LLCs, C, and S Corp...