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Investment real estate properties LLC was formed with 2
Investment real estate properties LLC was formed with 2 members and was filed in 1065. One member is individual and other member is single member LLC. Investment real estate properties LLC received Re… read more
emc011075
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I have a rental property that we put into an LLC last year.
I have a rental property that we put into an LLC last year. The LLC holds the title of the property and my husband and I transferred our portions to our individual revocable trusts. Unfortunately, we … read more
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good morning, wasn't expecting to have a chat to get my question answered :) … read more
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How to report rental income if a husband and wife owning rental properties in Illinois formed an LLC in Illinois in 2005 but didn't put the properties in the name of the LLC (considered a disregarded … read more
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I RECEIVED A K1 MARKED FINAL FROM AN LLC. I HAVE A NEGATIVE
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Scenario: I'm in the 31% tax bracket and the commercial
Scenario: I'm in the 31% tax bracket and the commercial building that I hold in a single person LLC is now providing significant income pass through via form 1065 to my personal return. I have bought … read more
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My wife and I own a rental proprty directly, which we
My wife and I own a rental proprty directly, which we manage, and which had a profit last year. We bought another rental property last year in an LLC, with both of us as partners, which we manage as w… read more
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Relating to my last question, I am completing the 8825,
Relating to my last question, I am completing the 8825, 1065, K-1s for an LLC whose members are 3 trusts (mine and 2 brothers). The LLC started operating in Dec 2015 (before then it was still in our f… read more
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I am finishing up my 2014 taxes (had an extension). At the
Hello, I am finishing up my 2014 taxes (had an extension). At the end of 2013, I created an LLC (call is Real Estate LLC) for the sole purpose of purchasing a commercial real estate property and leasi… read more
emc011075
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Form 8825 (1065): Limited partnership XYZ holds fractional
Form 8825 (1065): Limited partnership XYZ holds fractional shares in other LPs. K-1s were received for the underlying LPs (each is for a rental property). After entering the K-1 data on Line 20 of 882… read more
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an individual has $1,000,000 in various residential rental
an individual has $1,000,000 in various residential rental real estate holdings, the holdings are being depreciated over 27.5 per years. the real estate holdings are 10 years old, so depreciation has … read more
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My wife and I have some income property in a llc. Are we required
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Our partnership recd a 1099-misc for the proceeds recd for
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We have a 6 member Partnership LLC that buys homes and renovates
We have a 6 member Partnership LLC that buys homes and renovates them for resale. When completing the 1065 return how do we treat the homes, are they inventory or investment property or some other cat… read more
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hi, If I buy a real estate using a LLC ( having as members
hi, If I buy a real estate using a LLC ( having as members my family members) and I sell later the ownership of the participation in the LLC to a Foreight Corporation....what are the implications ? is… read more
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I know this is gonna be pretty easy for you ..... but for me
I know this is gonna be pretty easy for you ..... but for me Im not sure where it all gets filled out. I'm trying to help my kid and although I dont think Florida state will be complicated but I'm hav… read more
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I am preparing a 1065 - Among 6 of the members , I need help
I am preparing a 1065 - Among 6 of the members , I need help with 2 of the members -2 couples have their ownership and MR & Mrs as tenants by the entirety. I know that each spouse of both couples will… read more
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I am a cpa but my experience is more corporate/financial statement
I am a cpa but my experience is more corporate/financial statement prep. I am trying to prepare a tax return for a friend of mine. He buys apartment buildings, land, houses, etc. and then rents them o… read more
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