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I have a client who has an LLC which is a partnership. The
For LaneHi Lane,I have a client who has an LLC which is a partnership. The only thing this LLC does is own a commercial building. This commercial building is rented out to a business he owns which is … read more
Carter McBride
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I have a taxpayer that essentially sells space in a
I have a taxpayer that essentially sells space in a co-working office space. Should all the revenue received from such activity be reported as rental income on Form 8825 (Rental RE Income & Expenses),… read more
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JD, MBA, CFP, CRPS
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I have a client that is a doctor. His medical practice pays
I have a client that is a doctor. His medical practice pays rent for the office space he uses. He sublets the space and collects rent from other doctors. Should the rental income be reported as other … read more
Lev
Lev
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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.
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LLC 1065 tax return-Storage facility sells one of the
quot;LLC 1065 tax return-Storage facility sells one of the storage buildings including land and parking lot. It comes to a $28,000 loss. The business rents out storage units. First, does there need to… read more
Dr. Fiona Chen
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Me and my partner are real estate dealers (we buy and sell
Me and my partner are real estate dealers (we buy and sell residential properties). Almost 90% of the time, we end up doing major improvements to the home before selling it. For tax purposes we file a… 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
Lev
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My friend is a gh income earner considering the acquisition
My friend is a high income earner considering the acquisition of a commercial building with nominal cash flows. The building needs to be cleaned up and tenants obtained. In the interim if he holds is … read more
Jax Tax
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I have a general partnership that owns a 1% interest in 13
I have a general partnership that owns a 1% interest in 13 separate rental partnerships that are regulated by HUD. I know the income or loss from the 13 partnerships is reported on the bottom of Form … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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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
PDtax
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If I have an LLC with two partners and It only has rental income.
If I have an LLC with two partners and It only has rental income. This is the first year filing. Do I put Zero income on the 1065 and fill in the Schedule K and attach a 8825, and give the partners a … read more
Lev
Lev
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I maange an LLC of rental property, we fill 1065 partnership. On what
I maange an LLC of rental property, we fill 1065 partnership. On what form in the 1065 package do I put the Admin expenses for the LLC, I brought a computer for 1600. just for the LLC rental business.… read more
emc011075
emc011075
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I have 3 buildings (3 addresses) of rental properties to
I have 3 buildings (3 addresses) of rental properties to claim. The pickup truck is registered under company name, I use it for snow shovel, trash removal, repairs and maintenance for all 3 places. I … read more
emc011075
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Our partnership recd a 1099-misc for the proceeds recd for
Our partnership rec'd a 1099-misc for the proceeds rec'd for both a temp and perm right of way. How are the funds reported on the partnership k1s… read more
Lev
Lev
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Hi Robin, In case if there is a LLC is for rental services.
Hi Robin, In case if there is a LLC is for rental services. The LLC has two buildings, each building has about 20 apartments. When I file the tax return, I understand I need to use form 8825 to list a… read more
Robin D.
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I live in Md. I have an inherited 2 rental properties with
I live in Md. I have an inherited 2 rental properties with my 4 sisters and brother. I have treated it as a partnership for 2 years. This year we sold one property in November at 425,000. BotXXXXX XXX… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I own a duplex that I have under an LLC partnership with my
I own a duplex that I have under an LLC partnership with my wife. I do all the repairs for the place. I am having problems with 1065 Form using HR Block Business. The numbers do not sound right when I… read more
jgordosea
jgordosea
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Bachelor's Degree
2,885 satisfied customers
I am completing Form 8825 for condo rentals. I have meals as
I am completing Form 8825 for condo rentals. I have meals as an expense. Where do I put this and how much am I allowed for 2010? 1/2 the total meals? . According to Scedule E I can take 51 cents per m… read more
RD
RD
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