Samantha Klein
Underwriter wants to count payment against me..
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...
Ben Kirchner
Claiming rental income, and taxed/recognized.
I'll be closing on my first rental property in January. Therefore, it won't be until next year that this will impact my taxes. I was curious to how people claim their rental income, and how it's taxed. Is it taxed ...
Billy Abildgaard
commercial vs residential tax differences
Hello all, I'm trying to figure out the differences between commercial investing (business property) and residential as far as tax implications, write offs, etc. To be clear, when I say commercial I mean leasing to a...
Ari Bachrach
Tax reporting when using home equity for RE purchase
Current situation: I have a HELOC I used to purchase an investment property. Every year I report the interest from the HELOC on the schedule E for the investment property. Easy and simple.Potential situation: My home'...
Andrew Hoelzel
HELOCs and deducting paid interest
Hey team, tax question: I know, moving forward for 2018, that HELOC interest is tax deductible IF, for example, the funds are used for improvements to a home. Does anyone know how the IRS would know/track that? For ex...
Paul True
Vacant Rental Sold Not held out for rent during sale period
So I decide to sell a rental property within a LLC. for which I am manager. It was listed for sale while occupied but then the renter moved out. Shortly after the property sells. Now I discover seemingly bizarre IRS r...
Kevin D.
Schedule E
If my single-member LLC bought a property in 2014, but was not placed up for rental until 2015; so there is no income or expenses (other than capitalized expenses). Do I need to add the property on my Schedule E? It...
Harsha G.
Private Lending - Passive Losses on Schedule E
Hi All,Is there any way to structure a private lending arrangement so that income is considered passive (by IRS standards) and can offset accumulated schedule E losses? Perhaps as a syndication or credit fund?
Jeff Thompson
50/50 rental - late filing. partnership? Schedule E?
Hi everyone, new here, looks like a great resource to the avoid the mistakes I'm dealing with now...
In late 2008 My father and I purchased a property 50/50 down payment initially(we're both on the title), since then...
Mike Jones
Turbo Tax for Flippers?
Is Turbo Tax adequate for flippers? Maybe their Premier version?