I would love to hear from those out there who self filed their taxes for their new REI LLCs in the first year without any investment properties/deals yet. I’ve heard many say not to bother hiring an accountant/large f...

I am having some issues with the township and some surrounding neighbors and wanted to see if someone could help. I own a recovery/sober living house. 10 members live in the 5 bedroom home unrelated. The township is g...

I initiated a 1031 on October 18, 2017 (a flip I owned for 4 months), and now realize it may fail.  However, I've already filed a 2017 return.  Will the sale be recognized by the IRS as a short-term capital gain in 20...

Hoping from some help from this excellent BP community, since I am doing my own tax return. It is usually very simple for me.

I purchased my condo in 2006. Permanent residence until military transfer in 2010...

Folks,

I am planning on buying a house in Texas with tenants and an existing lease that will end in late 2014. Seller has a property management co XYZ they use to manage this property.

What I want to fi...

Background:

Subject property is in Texas.

We have a lot under contract with some CC&Rs from 1948 that were signed by a group of private land owners. The signatories appear to have owned land that was checker-...

Once you file a 4562 with a certain land allocation can you then file a 1040x to amend the land allocation if you think you allocated too much of the purchase price to land?  I based my allocations on the Summit Count...

In the past I have loaned private money through a broker friend of mine. They always handled the transaction that is their lawyer who represented ME drew up the loan dox and secured the note ,mortgage etc. Also we all...

Hello all, I've been a reader for years and bought our first investment property in 2011.  Currently looking to buy a multi family in the Bronx.  It's a gut reno with tons of violations and over $100k in ECB fines.  S...

Hi all, Does anyone know if we are allowed to change the cost basis for rental property? 2013 was the first year I placed a primary residence into a rental and according to IRS rule the cost basis was the lesser of fa...