Thanks for your answer to clarify.The Ordinary Business Income Line 1 of Schedule K gets it from 1065Line 2 Net Rental Income gets the same gain again from Form...
Hi not sure how to use the above post.If you can please guide me where to put in Rehab cost for basis adjustment I will be good ..I put the property taxes in th...
Thanks for your reply.I am not sure where I enter this: The rehab is a basis adjustmentAlso where will the property taxes I paid on closing statement will be en...
Thanks for very quick and point by point reply. I still need one point to be clarified: when you say cost basisof that property I really do not change the cost ...