I received a letter in the mail from the Department of Revenue in Kentucky prompting me to register online for tax accounts for my business (I started an LLC in 2016 in KY for the purpose of asset protection for real ...

Good morning,I close on a house tomorrow but the mortgage is in my personal name but the financials come and go from the LLC (monthly rent, closing, all expenses, book keeping). Will that income reflect into me at the...

Hi community,

I just completed my second wholesale deal, so after getting my check I started thinking about the taxes for the upcoming year.

How does the filing of taxes work for wholesaling real estate...

Hello BP people!  Can someone educate me on what taxes are due after you sale a property that you have bought, fixed, and sold at a profit...assuming it takes about 6 months?  My question is specifically regarding cap...

If you own a duplex , do you get taxed for each unit you have, since you technically have 2 different residents with different electric and water bill. I’ve have been asking but know can give me an exact answer .

Hey all.  Question.  If i am renting a portion of my house to a separate party (say a basement) part of the year,  what sort of tax benefits can I expect?  If report the extra income as income, can i deduct a portion ...

I'm under contract to purchase an apartment building in Ohio. I have the option to purchase the real estate or to form an LLC, transfer the property into it and purchase the newly formed LLC that owns the real estate....

I have a 50/50 partner in an LLC and we are rehabbing a home with an upstairs and downstairs unit. We have been renting the garage to a guy for storage and have $1250 in income for 2019, and have put about $30,000 in...

Hello,
I sold 2 properties at a loss in 2023, and one property for a small gain in 2023. When looking at my tax return from my CPA, the losses and gains show up on Form 4797 (Part I for the losses and the gain in Par...

I have a multifamily home with 3 units. I live in one unit and the other 2 are rentals that had been rented out prior to 2023. In 2023 I did not rent the units out or advertise them. I do intend to rent the units out ...