Investors & Landlords Tax Forum Q&A

Investors & landlords

How to figure capital gains on sale of mlp's in a roll over ira

How is it that you have capital gains from a MLP's in an IRA and leave or move such assets to another IRA. the cost basis out weighs the sale price, so I dont see where I would have capital gains. I did not take a distribution, straight roll over les... read more

If federal determines I do not have to report income for a room rental, do I need to for the State of Iowa? I did not see a spot in TurboTax to put it under.

Turbo tax said my room rental did not meet the criteria for Income On my federal portion. I did not see a place while doing my state portion.

I have loss in Realized profit or (loss) on Futures - 12/31/2024 like 6922

So how much i can show in loss

How to report an investment loss

I invested in a company that went under. I don't have a 1099-B . How do I report the loss?

I pay my rent to my parents, am I eligible for the CA renter's credit?

How to Handle Depreciation Change

I have owned a 2-unit rental property for 15 years. The first 10 years I lived in the building and was depreciating half of the purchase price over 27.5 years (because half was investment property). After 10 years I moved out and began renting the wh... read more

I was given a gift of wheat that was given pretax. I then sold it. How do I manually report this on form 8949?

How do I manually post sales into form 8949?

Question on Primary residence with 1 room rental (Schedule E) and Business (Schedule C) from same home

Hi,I have a question on how to Calculate and provide Mortgage Interest and Property Tax on my primary residence with 1 room for rental (Schedule E) and also running a Day Care business from the same home (Schedule C). Here is more information about m... read more

Complicated rental situation

For 2024, there are a variety of complications to my rental income, and I don't know how to handle them in TurboTax Premier. Here are all of the variables. - I lived in my home in Pennsylvania from January 1, 2024 - September 7, 2024. (251 days)- I h... read more

Capital Improvements

Would the value of the following items be considered improvements that can be added to the basis of a rental property:Wood shutters on all the windows;Floor-to-ceiling walk-in-closet wardrobe;Ceiling fans;Retractable awning; Wall mounted bathroom cab... read more

Can't delete "I have at risk losses carrying over from 2023" under Special Situations in Schedule C info

Trying to undersand a 465d carryover from 2023. Not sure it's valid but can't eliminate it from the above section.

Does NC have Hurricane Proof Improvements tax credits; ie Fortified Roof upgrade?

What are adjustment codes on capital gains worksheet?

1099-K Issue

This is for a rental property that is sent up in TurboTax as a Schedule E. In prior years when I had a property manager collect rent, I was getting a 1099-MISC from them to record rental income. In 2024, I decided to manage the property myself and am... read more

"Check This Entry" It is asking me to enter "Date Acquired" for a stock market option, but wont accept the date when I type it in. It just refreshes the page.

In the review portion it is asking me to "Check this entry" It wants me to enter the "Date Acquired" of an stock market option. When I enter the information, it just refreshes the page and asks for the same information. I am not sure what is happenin... read more