I created an LLC a couple of years ago and put the business to the side for a while. I am about to begin the process with it and had some tax questions.This business will most likely always be a side gig for me, so I ...

I'm interested in creative financing techniques, to include seller financing.Once I reach an agreement on the specific numbers for the deal...how do we set that up? Does the amortization schedule get filed with the s...

There’s a question on Turbo Tax that we’re stuck on. Do we take all depreciation this first year as an expense or depreciate over the useful life? Not sure if I’m even asking the question properly but it says in Turbo...

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...

Let's say you show a $500 annual profit after deprecation on your rental property on your taxes, wouldn't the lender divide that $500 by 12 and add that to your monthly income? I'm trying to figure out how much to cla...

Can someone provide more context to statements like: our loan will never report to a credit bureau because it is a private loan so DTI will not be affected....won't it show on a fraud credit report, the deep dive repo...

Hi everyone:

How can you know if a Schedule E being presented is accurate and not bogus?

Thanks.
Peter.

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...

Hi everyone, As I understand, every time that I purchase a rental property, after it rented, and I want to purchase the next property. The bank can take 75% from the income of the first property and if it covers the (...

Hi, I own an unimproved lot and capitalize HOA fees and property taxes every year to increase the property basis by amending my taxes and adding something like the following “magic” text as required by the IRS:
“For ...