A syndication investment sold in December. The Sch K-1 was not marked "Final" because the sponsor held some money back. My CPA says the capital gain can not be offset by the passive losses because "the passive Activit...

I have a 3 unit investment property in PA I am looking to sell and 1031 into a 6 unit property. The 3 unit is in mine and my wifes name and we want to buy the 6 unit in an LLC. I was told I can't buy in an LLC if the ...

This may be obvious, but I couldn't confirm in my NOLO deduction guide so asking here: I know I can write off the advertising costs associated with advertising my rental property once I own them, but can I deduct the ...

I would imagine I have to depreciate it... but the bill is separated into materials and labor.Depreciate the materials but expense the labor?Thank you,Arnie

Just seeking for second opinion on this Tax situation:  I am a fulltime Investor and I according to the IRS Sec 469c I qualify for the "Active" status, BUT my wife has a fulltime job with, w2 salary. We own an S Corp ...

I purchased a buy and hold propery 5 years ago for cash in my name only. Last year I got married and put this property into a LLC with my wife, and in our trust.I'm looking to 1031 this property now but wanted to know...

This is a hypothetical question, but what would the taxing entities forgive property tax payments if a person were to claim force majeure?  There are commercial tenants refusing to pay rent for this reason...

Hi All,
Quick tax question here. I bought a house 18 months ago for $132k. I'm now selling it at $275k. I'm expecting about $100k in profit. This will create a substantial tax debt. I've been talking to my CPA about ...

Hi All,Looking to form a partnership to complete a few deals within the coming year. I already have an S. Corp formed and the partner would like tp form a new one for our joint ventures. What are some tax, legal, and ...

My wife owns a property that we've been renting out for the past 5 years. We're hoping to sell it in the next couple of months and 1031 into a larger property. To qualify for a larger property we'll need to use my inc...