Under Sec 469: A taxpayer qualifies as a real estate professional if (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or bus...

So a piece of property in terms of capital or ordinary treatment, relies heavily on the items intended use in the taxpayer's hand.It can turn an otherwise capital gain into an ordinary one. It may even disallow previo...

Say if I entered into escrow on a property, went through entitlements, and put in money to develop the project, and upon successful achievement of entitlements sold the property for a higher price than what I was in c...

How do you know if IRS tags you as a dealer. Every information out there is only talking about the differences between a dealer and investor. No one is really talking about the actual process. How do you know your cur...

I run a family owned general contractor business (custom homes). However, I am not a registered principal of the company (s-Corp). My mom and dad are the two registered principals as they started the company 30+ years...

Hi BP Team,Hoping there is a tax professional out there that can address my question.  I recently realized a significant 1231 loss.  I understand there is a 5 year carry over on this so if i realize any gains those ga...

I own a Real Estate C Corp that Flips properties.   I also own a construction/ design company that gets paid from the C-corp through a 1099 each year when I do construction or design services for the C Corp. 
Averagi...

Hello all, I am just starting out in the rehab market. After reading through page after page of IRS documents I still feel that I am missing something. If we purchase a house cash and I rehab using my Contractors lice...

Hi all, 
Lately, I have been trying to do my best to learn the different tax laws and am confused on a few different things. Recently, my accountant told me that if I hold a property for over a year in a LLC that doe...

I started another LLC in 2017 with a focus on wholesaling and flipping homes. We held nothing in this company and sold everything no longer than 5 months. Our CPA is saying we will be classified as a dealer/trader a...