If you found that you had been under reporting rents on your taxes for the last several years, what would you do to make it right and not end up in jail and try to avoid an audit at all costs.

Quick question I have a 2 family home. I rent my home to my farther at low rent price . I really don't make a profit , do I need to report that income even though it's a family member?

Dumb question...I'm a newbie, please forgive...If I get 1100 a month in rent but I pay 900 in mortgage payments.  Do I report my rental income as 2400 a year?  or 13,200?

Hey everyone,

I just recently purchased my first house and I will close in about a month. The house is a 4bed 2 1/2 bath. Me and 3 other friends will be moving into the house.

Now my questions is, the rent that my ...

This question does not apply to me as I do not under-report my income.

But say you are applying for a loan or mortgage and after the 4506 the bank has reason to believe you are not reporting correctly or your income ...

Hypothetical scenerio: Lend someone $20K which they use to purchase/rehab/sell property. Deal is I get 20% of their profit. I am not listed on property deed. They clear $10K, so I now have $2,000 income.

If I hav...

Hi Everyone!What are your experience with the different types of income and expense report published by NAA, ALN, IREM? Does anyone use the submarket data to analyze your deals? I was always told use OE is roughly 50%...

I completed a 1031 exchange in 2017 and received some cash boot from the exchange. My accountant can't figure out if, in addition to Form 8824, we also need to file Form 4797 for this.  The main area of concern is how...

Hi friends, I'm looking at Cozy and had a group question about the 1099 they report to the IRS after you hit 20k in received rents.   Is this an extra step or process at tax time?  Benefit /or hassle..Thanks for your ...

What type of schedule or where do you show wholesaling income on income tax documents?