Hello all , it seems everybody in this country is making a bigger deal out of investing in section 8 properties versus let’s just called a cash tenant . Folks it’s the same exact way, just with more paperwork. Buy ri...

I'm figuring a year end tax payment - we sold a rental property for a gain (held more than one year) and will have K-1 losses from two syndications that we are LP.  Turbotax is allowing the losses from the K-1 to offs...

I’m in the process of selling moms house  owner occupied for 60 years. Selling to pay for nursing home. After she moved to NH 3/2022 I rented all three apartments for 2 years. Evicted them for no rent and refusing to ...

I received a letter in the mail today indicating that my tenants have filed for chapter 13 bankruptcy. The one year lease ends at the end of April but in previous discussions with tenants they indicated that they woul...

Hi BP,I have done readings on LLC setup for rental properties. I am now confused as I kept seeing different ways people do things. I have consulted with 2 different CPAs before and they told me 2 different ways.We cur...

Apparently since 2012 it has not been necessary to prepare 1099-MISC's related to rental activity unless the activity is a trade or business. See this article:
www.taxcpe.com/blogs/news/1099...
What do you think - ...

Hello All,I am looking for a tax attorney and CPA in the Bay Area. I have started looking into rental properties in IL and Tx and I need help on how to structure these entities. In addtion, my wife owns a graphic desi...

In my 4-fam, there is a four car garage attached to the property.  It is a pretty small 4-car garage and to give you an idea, 4 Honda Civic's would fit semi-comfortably in terms of opening doors.I am house hacking thi...

Good evening everyone! 
I am looking for some advice on the proper way to turn my current primary property into my investment property. I currently have a LLC that I would like to transfer my property into but I've r...