Mike Ojo
How many years of Tax returns is needed for a mortgage loan?
Just doing some calculations here. In applying for a loan, how many years of income is looked at or averaged? I ask because in the last 3 years, one year was a loss of income. First and last year both positive net inc...
Thos. A.
What if I don't file tax returns, and let the IRS bill me?
I have around $5m in real estate, mostly small rentals and houses I've sold on terms. I have so many varied deals--Sub2, sandwich leases, houses sold on CD, timber sale income, flips, interest from private loans...the...
Maugno M.
House Flips are suppose to go where on tax returns? SE or CapGain
Evening BP, Time for us procrastinators to start doing our taxes ! I have tried to reach out to several CPA'S and of course are all booked to take me on. So will probably stick to using Turbo Tax like ive done several...
Joseph S.
Is it likely to get tax returns from sellers of a 3/4plex?
Hey all,
I'm preparing to purchase my first 3/4-plex and have read a few books so I have a good grip on the fundamentals, but not much "street knowledge". One of the keys that all the books push is confirming mainten...
Paul M.
using tax returns instead of 75% of rents for Debt to Income ratio
I've heard that if you've owned a rental property for awhile banks will use your tax returns instead of using 75% of rents when counting debt to income ratio.
Questions:
1) Will they just use the rents on the retur...
Gary Li
How to file Tax Return after Transfer the LLC to the Living Trust
I just Transferred AAA LLC (me and wife owned 50%-50%) and BBB LLC (me 100% owned) to our revocable Living Trust, before AAA LLC file Tax Return with form 1065 and BBB LLC file Tax Return with Schedule C, What form sh...
Keith Gilbey
Does out of state owner need to file a tax return in Ohio?
Hello, looking for some advice.I live in California and last year purchased a single family rental property in Englewood (Dayton), Ohio. I went to do my taxes for 2020 and my preparer told me I also have to file a re...
Marshall Swatt
Financing options for 1-4 family, w/out W-2 or tax returns?
I own three rental properties currently, with modest DTE ratios (<70%), and strong cash flow. I'm considering leaving my current job and going into RE full-time, to grow the portfolio. I have capital to make downpa...
Dustin J Woods
Is it legal to ask for tax returns/W-2 when screening Tenants?
Is it legal to ask for tax returns/W-2 when screening Tenants?
Reed Dworski
How do you treat court costs paid by tenant on federal tax return
I had to file for eviction three times against a tenant last year and paid about $100 in court costs. The tenant paid me back for the court costs and is now current on rent. Should I treat the tenant payments as pa...