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I sold two separate rentals in 2017. I think both will be a
I sold two separate rentals in 2017. I think both will be a loss after recapture. Is this a capital gain or loss and what forms do I need to file with the IRS. If it is a loss do I need capital gains … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
CERTIFIED FINANCIAL PLANNER ®, Professional
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If my ex husband and I sold a rental home in TX last year
If my ex husband and I sold a rental home in TX last year and the money was transferred into his bank account in 2017- does he pay taxes when he receives the money from the sale or when?… read more
emc011075
emc011075
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My client received a Form 1099-A for 2017 for a rental
My client received a Form 1099-A for 2017 for a rental property that was reporting income and expenses on a Schedule E on their 1040. The property was surrendered before the end of 2017 to the lender.… read more
emc011075
emc011075
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I received a 1099c for a rental property in 2017. I have net
I received a 1099c for a rental property in 2017. I have net long term capital loss carryover (Sch D) that vastly exceed that amount. Can I offset that gain from the 1099c with the carrryover? How? … read more
Lev
Lev
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Bachelor's Degree Equivalent
30,494 satisfied customers
100% of a rental property was reported by taxpayer for 12
100% of a rental property was reported by taxpayer for 12 years. A relative on title for estate planning received 50% of sale proceeds. How is this correctly reported? … read more
Lev
Lev
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Bachelor's Degree Equivalent
30,494 satisfied customers
Have a second home that was a rental from 2007 through 2011,
Second opinion] Have a second home that was a rental from 2007 through 2011, From 2012 through October 2017 was a second home only. How is the sale of this property reported or allocated?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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The question is about how to report a 2017 short sale of a
The question is about how to report a 2017 short sale of a single family rental property on my personal tax return. I rented the house the first few months of 2017 before the sale. Over the years, I a… read more
PDtax
PDtax
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Master's Degree
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I'm trying to fill out a 4797 form for the sale of rental
I'm trying to fill out a 4797 form for the sale of rental property last year … read more
Lev
Lev
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Bachelor's Degree Equivalent
30,494 satisfied customers
I have a complex trust that held residential real property
I have a complex trust that held residential real property and a personal residence. the rental property was sold and reported on the 2016 trust return. Their were no transactions or income to report … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I owned a rental condo that was purchased in 1987 for
I owned a rental condo that was purchased in 1987 for $59,900. I sold it for $30,000 2017 and agreed to do owner financing. He made 2 payments prior to the end of 2017. I received a 1099-S showing my … read more
Lev
Lev
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Bachelor's Degree Equivalent
30,494 satisfied customers
My husband and I own an investment property in Penobscot
My husband and I own an investment property in Penobscot County. Newport Maine and It burned in Oct 1 2017.Tenants evacuated. We received an insurance full payout due to extensive damage. What are the… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Bought townhouse in 2005 as investment property. Property
Bought townhouse in 2005 as investment property. Property remained empty and unoccupied until Feb 2013. Beginning 2013 through 2016 property was rented and reported as rental. Did not rent in 2017 and… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I sold a 2nd home in 2017 but it was a rental property from
Hi Pearl, i sold a 2nd home in 2017 but it was a rental property from 2003 to and including 2009. Can i report this as the sale of a rental property in 2017? I have depreciation on it from the cost ba… read more
Lev
Lev
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Bachelor's Degree Equivalent
30,494 satisfied customers
How do I report rental property sold for income tax in 2017?
How do I report rental property sold for income tax in 2017? I bought if for 50k and sold if for 50 k.… read more
Lev
Lev
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Bachelor's Degree Equivalent
30,494 satisfied customers
Robin, question. about the 1040NR: This same scenario we
Robin, another followup question. about the 1040NR: This same scenario we just talked about. Now, what taxes/forms does the buyer who bought the LLC files/pays? We talked about the seller. Now the buy… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
When a partner contributes depreciated rental property to a
Hi, when a partner contributes depreciated rental property to a partnership, does the partner report anything on partner's individual tax return? Such as a transfer or disposition on Form 4797? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
A single member LLC which was formed to rent residential
Barbara, A single member LLC which was formed to rent residential properties sells one of the properties in 2017. The LLC has unallowed losses per Part 1 of its 2016 Form 8582. Are the portion of the … read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,152 satisfied customers
I filed a chapter 7 and surrendered rental property. I need
I filed a chapter 7 and surrendered rental property. I need to know what I declare as the sale price of the property. Do I declare what I still owed on the loan or $0 since I didn't get anything in th… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
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