Rental Real Estate Archives - Page 2 of 2 - John R. Dundon II, Enrolled Agent
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Rental Real Estate Tag

As part of the IRS's continuing efforts to require greater disclosure of tax positions and strategies on returns, it recently released new, mandatory disclosure rules for grouping passive activities. Rev. Proc. 2010-13 for the first time mandates that passive-activity groupings and regrouping, as required under...

Question: Tax payer produced Form 1099-S from the sale of property she owned jointly with her brother. The Form 1099-S had the full amount reported to her and the brother did not receive a Form 1099-S. What should be done? Answer: The IRS explains in the...

If you actively in an ongoing capacity buy property to fix up and resell even if you are doing it aside from your regular voacation you are"flipping" real estate and as such not eligible to treat those properties as capital assets. If you are holding...

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