Dear experts,
I have a rental house in AZ, I have a few questions would appreciate advices.
1. Do I need to apply for TPT licensee if I have loss in rental income after expenses?
2. I am not aware of this TPT tax and forgot to pay this for last two years. what do I need to do?
3. when applying for TPT license, it asks to fill in this question: "What is your estimated tax liability for your first twelve months of business?" Does this mean the the actually rental income tax I owe (which is 0) ? or the TPT tax I owe (which is based on gross rental income)?
TIA
Dave
