Shawn H.
SMLLC Tax election with CPA
I created a Single member LLC at the end of last year. I called my CPA to ask about any consequences transferring from husband/wife to SMLLC (myself as the sole member). He mentioned that I would have to choose partne...
Justin Gomberg
I live in one state, invest in another, and have tax confusion!
I understand questions like this allow for a broad range of answers. I will try my best to phrase the questions around my particular situation in order to receive more acute answers pertaining to my situation.
I cu...
Isaac J Mork
Multifamily strategy and tax strategies
Wondering if the strategy is to do interest only loans on commercial multifamily buildings? Principal payments aren’t going to be tax deductible. Or are you just happy your tenants paid like 90k of principal and all y...
Pat Lulewicz
JV Agreement and Income/Expense Sharing, specifically Depreciation
Before the keyboard warriors jump in, please understand that I am in between Tax Advisors/Preparers so this is as much of a short-term need to get an answer, as well as a prelim interview Q as I source my new Advisor/...
Joe DeLuca
First Property, Year 1 tax question
Hi all,
I’ll be closing on my first property within the first weeI of November, an owner occupied triplex.
Assuming it takes me a month or two to get ready and tenanted, I may get a months worth of rental income.
...
Michael Plaks
Tax reform Q&A Thread 1 - Pass-through and 20% deduction
Colleagues and friends, The original GOP reform thread started by @Brandon Hall is well over 200 posts by now. This is one of the follow-up threads specifically for discussion of pass-through entities (Sch C / Sch E s...
Frank S.
Depreciation Method Error - SL vs 200DB in 2017 Sch. E.
Hi there, While finalizing my 2018 taxes, I found an error on my 2017 Schedule E, Depreciation calcs.In 2016, my accountant used the straight line depreciation method for "Appliances". The following year, I used the ...
Mario Morales
"I pay Zero Taxes"
I don't understand how investors say I dont pay taxes, is that for the advanced investor with many properties or assets? I have 3 buidings and from what I gather, I want to show on my schedule E that my buildings are ...
Michael Bangsal
Is cash flow subject to tax?
Hi Bigger pockets community,Quick question. Do you have to report your cash flow on rental properties?Is this income taxed?Appreciate your input in advance!
Craig Bellon
Trying to purchase 3rd home and Schedule E question
I'd like to purchase a third home as my primary residence. I have two other properties, (A) and (B), already rented out. Property (A) rented out in 2014 and property (B) was rented out in August of 2016. On my 2014...