Last year, our LLC bought vacant land in cash. We haven't invested in it or sold it. The only expense on it was property tax. Does the land purchase need to be reported as an "Other Asset" in Schedule L of the 1065? D...

Hi,
I am looking at a four plex. I asked for Schedule E. I got for three years.

Last year shows as follows:

Rental Income : 20,000

Rental Expense 20,600

Depreciation 6000

Rental Loss 6000

Last three year the fi...

I made some upgrades to my property including adding a couple bathrooms. My scheduled reassessment isn't until 2024.Am I supposed to update the city before then or do I just wait until my scheduled year?

I am getting prepared for taxes and I'm reviewing many of my expenses for a property in the last year.Do I need to categorize my home depot and Lowes expenses based on whether the item was purchased was used for a rep...

Hi all, I own a duplex in Queens and our family both live and rent the property. My family is planning to move out of the neighborhood and rent out the entire building. 

I'm unsure whether the house will become an ...

Hello,1. If I do a 1031 exchange on the rental property I buy will I be able depreciate for another 27.9 years?2. If I sell my property and I dis 1031 exchange properties before will I have to pay depreciation on all ...

I'm building a house intended to be sold for profit. The house is still under construction at the end of the year. If I'm $250k worth of expenses into the project, do I write those expenses in this tax year? Or do I m...

I am looking to stop doing my own taxes and need to find a great Tax Advisor ASAP.  Most property is in AK so curious what or who is out there in AK.  Not looking for just any CPA or Tax Advisor. One who specializes (...

2018 was my first year of owning properties.  I bought two turnkey properties and received a 1099 for the rental income they generated.  I entered this info into Turbo Tax.  I was expecting some tax benefits.  Am I mi...

First off, I know this is a very specific question to my circumstances and I already have an appointment with a CPA to ask this and many other questions but I wanted to get a feel from anyone in the BP community who m...