Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
My husband organized an LLC (in SC) in late 2016 to purchase
My husband organized an LLC (in SC) in late 2016 to purchase and operate a new vacation home on the SC coast. We spent a lot of money planning the home and purchasing supplies and furnishings for it, … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
Can a Single Member LLC filing on Sch C pay rent to an LLC
Can a Single Member LLC filing on Sch C pay rent to an LLC (the same member) for use for use of a building owned by the single-member? If so, can you show the rent expense on Schedule C and the income… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
Sold a home last year. invested $20,000 in improvement over
Sold a home last year. invested $20,000 in improvement over 10 years in this home and the selling price was $5000 less than the purchase price. Is there a tax deduction to compensate or is this consid… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,636 satisfied customers
I bought a primary home in Tucson, AZ in November of 2011.
I bought a primary home in Tucson, AZ in November of 2011. My company closed the local office and transferred me to Dallas, TX. I rented out my home since my transfer in July 2012. Now my job is trans… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
I OWN HOUSE IN NEVADA. I LIVE IN ALASKA. CAN I DIDUCT DEPRECIATION
I OWN HOUSE IN NEVADA. I LIVE IN ALASKA. CAN I DIDUCT DEPRECIATION ON MY HOUSE IN NEVADA THAT IS BEING RENTED OUT/… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
I have a vacation home in AZ that I 't use a lot. Was
Hello. I have a vacation home in AZ that I don't use a lot. Was wondering if it would be beneficial for me to rent it out. I would then be able to claim all the upgrades as a deduction. Does this make… read more
Tax-Scholar
Tax-Scholar
Manager
Bachelor's Degree
89 satisfied customers
My client has an llc which he uses rental properties. he
my client has an llc which he uses for several rental properties. he loaned one of the properties $500000 at 8%. the property pays $10000/mo rent to the llc. the owner than issues a check to himself f… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
If I do a 1031 tax deferred exchange of a residential rental
If I do a 1031 tax deferred exchange of a residential rental property I own what are the implications of moving into the new property as my primary residence? Is there a way I can rent to myself? I wo… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
My wife and I own several multifamily rental properties. This
My wife and I own several multifamily rental properties. This year we refinanced two of the properties, which are held in a California LLC that we set up a few years ago, taking $1,000,000 cash out. W… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
I moved overseas 3 years ago. I leased my texas home out at
I moved overseas 3 years ago. I leased my texas home out at that time and it has been a lease property till now. we are headed back to the states soon and plan to move back into that property for a sh… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
My rental condo is being sold (closing) 8 months after the
My rental condo is being sold (closing) 8 months after the last renter moved out. Do I have to convert it to "investment property" during those months when it was offered for sale and not rented?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,604 satisfied customers
I have had a house for sale since 2007, due to a job transfer,
I have had a house for sale since 2007, due to a job transfer, that I have not been able to dump. I had a lease-purchase that fell through and had it just rented out once in order to help pay the mort… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,813 satisfied customers
I was a student who owned a property in VA but moved out to
I was a student who owned a property in VA but moved out to AZ (rented) in 2007, since then I have had friends staying and paying rent which essentially covered my mortgage/tax/insurance. at the time … read more
DanielleCPA
DanielleCPA
Certified Public Accountant
Bachelor's Degree
629 satisfied customers
We have a home in Washington State that we have up for sale
We have a home in Washington State that we have up for sale it rented March of 2010. We have lived in az since May of 2009 around june 15 we got a call from a family that was interested in leasing the… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have a house that I began renting out jan of 2009. how do
I have a house that I began renting out jan of 2009. how do I go about Depreciating that asset.(if you can call it that) I am 400 dollar upside down on rent recieved to morgage payment.… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
I purchased a second home in 2007, and for the last 2 years
I purchased a second home in 2007, and for the last 2 years my sons have been living there while going to school, and we have used it for vacations. I purchased the house for $820k and the current mar… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
I want to know the tax implications of turning our ...
I want to know the tax implications of turning our primary residence into a rental property in Arizona. We don''t want to sell since the market is so poor, but have been transferred out of state, so w… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I am renting out a piece of property in AZ. I have had to ...
I am renting out a piece of property in AZ. I have used the property < 2 weeks per year but only had a few months rental income. Therefore, I have had to declare a loss the last 2 years. Are there … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x