thanks so much. that was really helpful. I just have one other point of clarification. I did not accept your fee yet, as i thought that might have ended the session, but i certainly will do it. does my acceptance create an end of our session? I have never used this before.
So here is the other question. My tax accountant says that if I file a "c" with no "profit" as the "profit" will all be on "e" that it will be a tip off to the IRS
. Similarly, if i file for any home office expense, that will also be a tip off and that will trigger an audit. I see his point as the "C" expenses do appear to be "pass through". In 2008 for instance, i had one rental property (creating income
on e) and two alternate properties that i was "developing", looking at, researching, getting ready to buy. Ultimately, I did buy in 2009.
Also, can you address my other question on my first set of questions, which was "on schedule c, i must identify my business in a category on line A, which is a code. The code I think that i would put is 531390, which is in the real estate category: Other activities related to real estate. I am leasing some properties and developing others.
Ok, so i think that is it and i will definitely pay your fee. thanks for your help. Is there every a way i could initiate another session and get back to you? thanks. thayer