Imol Hoh
How to find Pre-foreclosures
Hello, im looking to invest in pre-foreclosures, probates, tax liens, etc and wondering how to attain those lists. I've been to and called several counties and have asked for these documents but have been looked at we...
Nathan Saetveit
Home office - filing IRS 4562 with unallowed depreciation
I'd like to claim a home office deduction (I've reviewed the details and I'm eligible). It's my first year with a rental property, and I did not have a profit (on paper), so I know that the deduction and depreciation...
Reid Isaki
converting rental to primary
I can't find any information on converting a rental to primary re: irs forms. I know the 4562 is what I would use to put improvements for my rental into service and depreciation on the property, but not for letting t...
Fred Hess
Should I form an LLC?
My Situation: My father and I are in the process of purchasing a turnkey SFH rental property in New Jersey. We are splitting all costs and profits 50/50. Our intentions are to buy and hold the property long term and c...
Gerald Jarreau
Question about taxes
Last year I needed to move in with my mother to take care of her. I rented out my condo. I do not have a business set up. My question is how do I prepare to pay taxes on the income I have earned? Do I need to set up a...
Susan O.
Sold 1031 property in Sole Proprietor self Name - Buy in LLC name
I have a property I sold and doing a 1031 exchange and about to purchase my upleg.
When I close on the upleg property can I change title to an LLC that i'm 100% owner?So is it possible if I sold and the property was ...
James Zhang
Single Member LLC Rental Property Taxes Question
I currently have a rental property under my name. However, I would like to have my LLC's name on my property management agreement. Obviously, the property manager requires a W-9 form for income reporting purpose. M...
Account Closed
Renting out Rooms in Primary Residence / Interest Deduction
Hey guys--I have a semi-complicated issue involving renting out rooms in my primary residence and how the mortgage interest / property tax deduction can be applied.I own and live in my house and also rent 2 rooms.Here...
Michael Healy
Gains reported on Form 8949? Or...no?
So I'm trying to get a cash out refi and the underwriter wants a IRS Form 8949 for every flip I did last year. Without it they won't count that income as... well... income.My tax guy says they don't know what they are...
Brionne Moss
How do you do your taxes?
Hey BP,So what I do know is that uncle Sam is coming one way or another. So my question is, how do you do your taxes? On every project? Every quarter? During tax season? Or something else? Also, how much are taxes in ...