Sorin T
H&R Block for flip income?
Hi,
This is a tax question for flippers out there. Is HR Block premium a good tax program to capture flip income? If so, under which category do I report it?
My 1st year reporting flip income (had rentals before) an...
Matt M.
If I live-in my triplex, do I have to pay taxes on rental income earned?
To my understanding, actually living in the premises, especially being a 3-home or less, will put you into a different mortgage bracket, tax bracket, etc...
Do I need to claim my rental incomes and then pay taxes on ...
Account Closed
Real Estate Investing
Real Estate rental income is earned when a real estate is leased for rental income generation. Rental income generally is treated as unearned or passive income for income tax purposes. Rental income is reported on Sch...
Nick Eckemoff
Mortgage Interest Tax Deduction is better than I realized?
Sorry if this has been asked before...maybe I'm not using the correct keywords.I am confused about the mortgage interest tax deduction. I understand that it allows the interest on a mortgage loan to be deducted, but h...
Gary Li
which form should I use for reporting Rental Income
I have a LLC and tried to transfer the Tile of my rental properties from my name to the LLC, but I heard the Lender would not allow to do it. so I use my LLC to sign the rental agreements and collect rental incomes an...
Joe Rest
Total recapture depreciation when selling an house
I am trying to figure it out how to identify the total recaptured depreciation to report for tax purpose as result of the sale of rental property. The first realization is that this is a TOTAL recapture depreciation ...
Chris Mason
Easiest way to be allowed to prepare taxes, especially Sch E?
Hi Tax Pros,I'm a mortgage lender. We kind of have a love/hate relationship, but I'm probably never going to ask you for any sort of letter "guaranteeing" that Sally's business is "guaranteed" to make $X00k/yr for the...
Chris Little
Advise on tax return for RE investor and Realtor
Looking for some advice on finishing my 2020 tax return.
Here is the situation:
In 2020 I became a realtor and also acquired an investment property. 2 different activities that need to be reflected on my tax retur...
David Moore
RNC Proposal Impact on Investors
Greetings all,I wonder if anyone else has had time to absorb the impacts of the proposed tax changes in the bill introduced in Congress? What are the tax impacts on investors? Do you think it benefits us or does it ...
Jill E.
Rent Primary Residence from yourself?
Can I add my primary residence to my rental portfolio and rent to myself? Because of the new limitations on mortgage interest and state income tax, many can't fully utilize the deduction with a $10k cap. Can I rent ...