Robert Kohnfelder
Confused by Tax Return - moved from owner/occupied Multi to SFH
Last year's online tax return (turbo tax) was fairly simple from what I recall, as I had no major confusion selecting that I lived in the property and also rented it out. This time around, I can't find a clear-cut cho...
Joel Schanbacher
Depreciation Questions in TurboTax
Hi everyone, first time posting here. I could use your help with the following two questions - How do I enter depreciation on my taxes if my property was used as a rental, then my personal residence, then rented out a...
Ashish G.
Deduct Home Office Expenses on Schedule E
I have short rental properties that I use Schedule E to file income tax for. Since these are short term rental properties so there is a quite a bit of daily work involved and I exclusively use a portion of my home to ...
Damir Mujkic
2021 Flip finishing in 2022. Tax Implications?
Hi,I have a property that I punched in 2021 and will be selling in 2022. Do I need to complete a Schedule C for 2021? Thanks!
Huiping S.
Can i claim tax expense deduction as a part-time realtor?
I have a full-time job and part-time as a realtor (few months during 2016). I got the 1099-MISC. To prepare the license there are expenditures, including pay for BP membership. Can those expenses be deducted on my 20...
Ryan Z.
How to maximize DTI for new conventional mtge?
Hi BP - Hoping for some guidance here. I have 1 cash flowing rental property (FHA mtge as I used to live there) and I'm currently leasing the place where I live now. In the next few months, I'm hoping to buy and mo...
James A.
Setting up Solo 401K
My question is two parts. 1. Anyone who has a solo 401K can you recommend some good companies? 2. Has anyone successfully set up a solo 401K while still have your employers 401K, Thank you for any responses!
Sandra Habiger
How to deal with depreciation recapture on the tax return?
My friends, who are in the military sold their house last summer. The house was rented out before it was sold. The qualify for the stop the clock provision, so the sale will count as a sale of their primary residence....
Andy K
How to avoid self employment tax when flipping properties?
Hi all,A friend of mine and I are planing to partner up and fix and flip properties. We plan to put down payment together, get a hard money loan, rehab and then sell properties. I am an experienced buy-and-hold invest...
John Sampson
Self filing taxes for small property management company
Hello, let me start by admitting I know I should have had an accountant do my taxes! I have a single member LLC for a property management company. The company collects all rents, so I have 1099 MISC from several agen...