Kevin Kendall
Scedule E, Scedule C or 1065 partnership
My wife a I are buying our first rental property and I am trying to figure out how to file our taxes. We will transfer the property to an llc. We live an the property is in co which is a marital property state and the...
Zak Klobucar
Tax Deduction General Questions
Just wanted to get some general information on tax deductions...nothing in depth, want to make sure I'm not completely off with my analysis.
When buying a property, there are a lot of items that can be deducted at t...
Martha Daisley
Husband and Wife LLC
hello allMy husband and I are closing on a property this week. We want to close in an LLC we just created. My question is, when i go to create the EIN number, the IRS wants to automatically make us a partnership. My a...
Brian Zaug
Rental losses against personal income
Happy Friday! Cheers!So my wife and I are both teachers in NY. We grossed $251,000 last year on our w2s and we file jointly. We purchased 2 rentals properties (2 duplexes) last year and with the work/renovations ...
Account Closed
need help:which form report commercial loan deductible interest?
Hi, My 7 property are under the same LLC (single-member LLC, 100% ownership). Therefore, I will report the LLC under my personal tax return. I have a commerical portfolio loan of 7 rental properties. One single loa...
Kate Lavery
Like-Kind exchange combined with Sec 121 exclusion - reporting questions
I converted my primary residence into a rental property three years ago. Last year, I completed a 1031 exchange, where I exchanged that rental property for two new residential rental properties. The overall gain on th...
Derek Gendig
Indianapolis Property Management - Looking for new Leasing Agents
Good morning. If this forum is posted in the wrong category, please let me know and I will remove and place it accordingly.Indianapolis Property Management is growing and looking for new leasing agents. You must hav...
Jeremy Zindel
Deduct charitable contributions on a Schedule E (or C)?
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...
Rikako W.
looking for real estate agent in Lehigh Valley, PA
Hi All, Does anyone have recommendation for real estate agent in Lehigh Valley, Pennsylvania? We are looking to buy 2-4 unit multi family houses in Bethlehem, Allentown, or Easton. It should be someone who understand...
Dametric Shaw
3 Days before closing
I have .5 acre of land that I purchased and placed a renovated double wide 2176sf 4/3 MH on for sale. It appraised at 170K. We also had our foundation engineered certified (FHA required) Had a scheduled closing with a...