Tzvi Nussbaum
Excess Business Interest Expense 163(j)
I recently reviewed my tax return for 2018 prepared by my CPA and noticed that the amount deducted this year for depreciation was significantly less than years prior. He used the Excess Business Interest Expense form...
Jesse Knevel
Boyfriend just kicked in tenant's front door
I just received a call that my tenant's boyfriend just kicked in her front door. She is filing a police report. I am planning on contacting my insurance company tomorrow. Can I bill my tenant for the repairs? Boyfrien...
Andrew Cargal
Don't use The Mortgage Shop
I want to share my experience with The Mortgage Shop. I have closed three loans with The Mortgage Shop. Those were good experiences. But the real test of this company's character came with the most recent loan I tried...
Bryen Blankenship
Property Management Company Issued 1099 in Personal Name Not LLC
In May of 2019 I created 2 LLC's for asset protection for my properties in Chicago. One LLC was formed in the state of Wyoming as a partnership to hold my IL LLC as a single member which holds my properties. I've setu...
Priya Daftary
Selling primary home in first 3 years of moving out
I moved out of my primary home back in mid July 2017. I had rented that house for the last 2.5 years and ready to sell it now to take benefit of the tax break. As per tax laws, I need to close the sale by mid July 202...
Reid Hanley
Landlord Access Question - Did I cross a legal boundary?
As a new landlord of a mobile home park in Florida, I have already experienced my share of tenants moving out in the middle of the night or with extremely short, as in 5 minutes from now and I still haven’t paid rent ...
Sean Price
Buying first home with a lease option
We are currently renting our home. The owner informed us that they would like to sell the house. We can afford PITI on the house but are currently cash poor so can not afford a large down payment. The owner said...
Account Closed
Who is the real owner?
Back in May 2014 I foreclosed on a house in Mississippi for none payment. I was in the second lien position and after the foreclosure the bank in first position refused to work with me in bringing their loan current. ...
Kevin Boucher
Crammed Basement is a Safety Hazard
Hello All,
My insurance company notified me that there is a mess in the basement of one of my tenant occupied units which is a safety hazard and needs to be cleaned up or I will lose my insurance. They notified me in...
Adem Tahiri
Depreciation on tax returns (rental property)
I sold a rental property this year and have to account for depreciation I took in prior years. Which form of my prior years tax returns would have the correct amount that I should account for recapturing now that the ...