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Investors & landlords
Then you probably need to file a Partnership return, which is a completely separate tax return, using separate software (actually, I recommend a tax professional for at least the first year).
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes/">https://turbotax.intuit.com/small-business-taxes/...>
For your personal return, you will say you disposed of the rental property and converted each "asset" to personal use.
Partnerships can be complicated, so I do recommend a tax professional for AT LEAST the first year to set things up correctly.
<a rel="nofollow" target="_blank" href="https://irs.treasury.gov/rpo/rpo.jsf">https://irs.treasury.gov/rpo/rpo.jsf</a>
<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/small-business-taxes/">https://turbotax.intuit.com/small-business-taxes/...>
For your personal return, you will say you disposed of the rental property and converted each "asset" to personal use.
Partnerships can be complicated, so I do recommend a tax professional for AT LEAST the first year to set things up correctly.
<a rel="nofollow" target="_blank" href="https://irs.treasury.gov/rpo/rpo.jsf">https://irs.treasury.gov/rpo/rpo.jsf</a>
‎June 6, 2019
3:34 AM