i made 30k throughout the year, why is it when i put the full 30k on my schedule c i get a refund, and when i put 25k on schedule c and 5k as a distribution from my s corp i owe money, i thought distributions dont hav...

My 3 family purchase is almost ready to rent, just over 6 months renovating. I understand "Make-rent-ready costs are not deductible." My question is what expenses along the way are a deduction this year? Property taxe...

I own a trucking company (semi trucks) and a few of them i have personally guaranteed and appear in my credit report. My question is, in Texas my Taxes are usually net negative due to the ability for depreciation on t...

Here is my situation - I made significant losses on 1256 contracts this year and here is my sample scenario. 2022 year - Long term capital gains - 24,000- 1256 contracts losses - 140,0002021 year- long term gain - 110...

My friend has a house the he owns under a land contract with equitable title. Does anyone know if he should depreciate that house on his tax returns or can he wait to refinance and get the deed before he starts deprec...

Hello everybody,
Hope all is well. I bought a condo last year on my personal name, did the work it needed & sold it later. To those who have done this before & have experience. What is the best & busines...

Hi, in 2018 I moved some of my properties under my personal name to a single member LLC in the middle of the year. Should I be reporting rental income & expenses separately during the two time periods, (before and...

Hey BP! This will be my first time filing the Schedule E form as my medium term rental in Tampa, FL became active the 1st of this year. I need to pull forward deductions from 2022 that went into preparing the property...

What would be the rationale for making a loan with a promissary note from your personal name to your LLC instead of just making a capital contribution? Is there some tax advantage to doing that? It seems simpler to j...

I am currently house hacking and want to know what the best way is to maximize return on Schedule E. 1. Dividing expenses - I see some post saying that I should just divide the unit by half. In my case, my tenants spa...