Investors & Landlords Tax Forum Q&A

I own a two family house and plan to convert to condos. What are the tax rules if I sell my unit, move to the rental, live there for two years and then sell it?

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Can i report minor children's(college age UGMA account) long term gains on my tax return and offset those gains with losses from my portfolio??

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Can I submit a single summary 1099 Div entry for several holdings in a brokerage account or do I have to enter data for each holding?

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Depreciation year sold

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Must I report a deposit made in 2018 for a week's rental of my vacation home in 2019 on my 2018 return, or can I report it on my 2019 return?

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5 Replies 2323 Views

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How do I enter tax free dividends, what form?

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EMPLOYEE STOCK OWNERSHIP PLAN (ESOP). Sold all shares upon termination. How report 1099B gain if paid over 10 years?

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7 Replies

1738 Views

If insurance pays under Coverage D-ALE/Loss of Use for lost rental income after a hurricane, how is that handled on my taxes?

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Where do I file a 1099-s for land sold? I have read all your questions and answers

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My ex & I sold a rental property at a technical loss, but got back 21k cash. I gave him 6k to pay back the remainder of a 10k loan from his mother. How do I claim this?

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Can my adult son to live in my 2nd home (has no mortgage) and pay "rent" to cover insurance and property taxes without claiming the "rent" as income? What can I deduct?

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2944 Views

I have DeLuxe but I may have misunderstood the product. I have dividends, capital gains, capital losses. Will I be prompted to upgrade?

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1 Reply

347 Views

My husband and I rent an apartment as our "home". Are we able to claim the School Property Tax Credit based on our rent?

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2017 error: Rental property incorrectly shows $22,044 in revenue; should be $20,400. Net loss would have been $1644 more. Worth fixing on our CA and federal returns?

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304 Views

For a rental property S corp owned with siblings, the K-1 has a number in Box 17 with code X, which is for "Unadjusted Basis." Where do I enter this in Turbo Tax?

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I live in mass and sold 19k on eBay not as a business. Some stuff was never used and some of it was used, do I have to report it as income? Why?

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I have a personal loss carry forward from stock sales. This year I have created an LLC which has generated profits. Can my loss carry forward offset my LLC gains?

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609 Views

Can I get a separate appraisal for loss of value to landscaping and claim that loss on a rental property damaged during Hurricane Florence?

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3 Replies 457 Views

3 Replies

457 Views

Co. merged, I rec'd cash, but no stocks. 1099-B has "Loss not allowed(X), not reported(Z); Loss of $1K+ (Proceed(1d) vs Cost). Do I report as loss? How?

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5 Replies 2029 Views

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2029 Views

If I can't determine FMV of private stock I inherited in 1996, how do I determine what to pay in taxes?

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I began renting my home on July 1st 2016. On schedule E box 9,12,16, put amounts for the time rented? Or the whole year?

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