Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
Lev, As to a previous question in which you indicated the
Lev,As a follow up to a previous question in which you indicated the individual owner of a commercial rental property could transfer it to a Corporation, can it also be transferred to a newly formed m… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
A dentist is a 50% stockholder in an 'S' Corporation & owns
A dentist is a 50% stockholder in an 'S' Corporation & owns a commercial rental property personally. He rents the property to the 'S' Corporation (the dental practice). He files Schedule E each year w… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
Is there any tax consequence to transfer RE from one LLC to
Hi, is there any tax consequence to transfer RE from one LLC to another LLC. Both LLC have the same members with the same percentage ownership in each LLC … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,747 satisfied customers
I am 50% partner in an LLC, taxed as partnership (form
I am 50% partner in an LLC, taxed as partnership (form 1065). The other 50% partner is my friend. This LLC's only assets were 2 single family houses, which we rented out. In 2016 we have sold both of … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Info: 4 of us want to buy a duplex family home under our
Info: 4 of us want to buy a duplex family home under our names an credits in 2016. We will take out mortgage in our names. All our scores are 700+. We want to make income from the property and live in… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
I have two rental properties in South Dakota, I live in California.
I have two rental properties in South Dakota, I live in California. I am preparing the final tax return for the LLC that held the properties until December 29th 2014. In showing disposition of the pro… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
Lev: A multimember (4 members/two married couples) LLC was
Lev: A multimember (4 members/two married couples) LLC was formed in 2013 but its one owner-member bought a condo in his own personal name (NOT in LLC name). There is no mortgage interest as there was… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
Hi, Im a florida landlord, and I own residential rental
Hi, I'm a florida landlord, and I own residential rental properties through an LLC. It is myself and another managing member that are on file with the Department of State. We were able to depreciate t… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
If a multimember (4 members/two married couples) LLC is formed
If a multimember (4 members/two married couples) LLC is formed and its one member buys a condo in his own name (NOT in LLC name) and rents the condo out, should rental income and expenses go on LLC's … read more
Expert
Expert
I will preface my question, with yes I should have done my
I will preface my question, with yes I should have done my homework. That is why I am here I guess. In 2012 I decided to purchase several single family homes (two for rental and one for resale) along … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
My brothers and I inherited a home from my mother 3 years ago.
My brothers and I inherited a home from my mother 3 years ago. It was a rental property for her and we have continued to keep it a rental property. We currently deduct the mortgage interest from the f… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
Hello, In Sept 2012 my husband and I purchased a Condo with
Hello, In Sept 2012 my husband and I purchased a Condo with 5 other couples. We created an LLC and 2 couples have 1/4 share and 4 couples have 1/8 share. It was rented one time between Sept-Dec ($550)… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
I have another one for you... How do I structure an LLC
I have another one for you... How do I structure an LLC to optimize for tax? It needs to be 'member managed' and I will share in the investment decisions with my friend. Is there anything I should kno… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
I have a general question about LLCs. I would like to place
I have a general question about LLCs. I would like to place my real estate investment properties in to an LLC which would have an additional member other than myself. In additon, I would have another … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,466 satisfied customers
The rental property located in Oklahoma became too much travel
The rental property located in Oklahoma became too much travel from home in Michigan. In March I signed a Quit Claim Deed to my Brother who lives in Ok. How do I report this? It was depreciable on MAC… read more
socrateaser
socrateaser
1,457 satisfied customers
A Multi Member LLC start up company with two members, taxed
A Multi Member LLC start up company with two members, taxed as a partnership, had no "business income" in 2010 but did have ordinary and ncessary expenses of roughly $10k. In addition, they did tradin… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I am a partner in an LLC - the bank repossessed some equipment
I am a partner in an LLC - the bank repossessed some equipment to satisfy a $35,000 note. How is this treated on the 1065? Also I sold our lease for $100k how is it reported or taxed? Can I spread thi… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
Last year (2004 tax year) we had rental income that was ...
Last year (2004 tax year) we had rental income that was reported on our personal taxes. In 2005 we formed a LLC and transfered ownership of the rental property to the LLC. How do we address that on ou… read more
Jon Andrews
Jon Andrews
CPA
3,038 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