Investors & Landlords Tax Forum Q&A

Investors & landlords

All About Rental Real Estate & Vacation Rentals

You’re in great company if you’re thinking about joining the rapidly expanding group of real estate investors. Whether you want the adventure of becoming a full-time landlord or simply looking to make a little extra cash by renting out a room - or yo... read more

If I buy a stock three times and sell it three times all within a one month window at a loss on each sale should not the gain loss be zero?

On Aug 29 of 2024 I placed three purchases for an ETF I will call XYZ and sold all of the shares at a loss on Sept 9. So I have three wash sales. I am now filing taxes with an extension filed on the 2024 tax year. I now find that my broker has create... read more

Which TurboTax version should I get for TPT tax on rental property?

I have a rental property in AZ for short term rentals. This requires me to have a TPT license (Transaction Privilege Tax) with AZ. They take taxes monthly for my rentals. My question is, do I have to get Self-Employed version of TurboTax or can I use... read more

What are my tax considerations for a LP stock that is part of my IRA portfolio?

I purchased 50 shares of ET Energy Transfer LP stock in 2024 in my IRA account. Per my recent discussion with my broker, dividends from an LP are taxable in the year received, even in an IRA account. Is this correct?

Failure to Report 1099-B Section Realized Gain/Loss

Hello All- I opened a tax loss harvesting account with Fidelity in 2021, but for a variety of reasons, did not fully understand the annual tax reporting requirements. I never reported the amounts below on Form 8949 and/or Schedule D, Part I (short te... read more

Section 465 and 469 can be check marked if crypto & stock trading account was under business name?

K1- which states to file?

I invested in a real estate fund last year and just got my K1. It included K1's for Alabama, Illinois, Indiana, and Kansas. Some of the states have 0 or losses. Which states should I file? also, I filed a federal extension because they are delayed to... read more

AIRBNB Vacation Rental In Another State Do I have to File Income Tax Return In That State

I own an airbnb / vacation rental in another state, I don't have any other income from that state other than the airbnb vacation rental. Do I need to file an income tax return for the state the air bnb / vacation rental is located in?

I have a 1099-Div and need to enter long term capital gain into form 8949 but TT wont let me generate the form. any advice?

Deferred interest

Is it possible to issue a family member a secured loan with deferred interest payable when the house is sold? Or because there wasn’t any payments being received would it be looked at as a gift? If it is possible, how would it be recorded for taxes?

Statement A of the K-1

Here is the error I am getting: Sch K-1 Wks -S Corporations Box 17 Code V has been selected but no Section 199A income has been entered on Statement A. I can not find the Statement A to enter the income it is asking for, although the error on my K-1 ... read more

I transferred a rental property to an LLC mid-year. How do I explain that on my 1040 Schedule S and Form 4562?

K-1 rental same ownership as K-1 business, triggering other rental losses

Both companies have the same ownership

RSU sale-to-cover and ESPP losses: Are they wash sales? If so, recoverable?

My company performed a sale-to-cover when some RSUs vested. It took a few days to settle, and there was a ST loss of $1000 on the sale. Seven days later, an ISO same-day sale of the same stock was made (reports as compensation since it's disqualified... read more

Schdule K-1 Box 17 - Codes V and AJ

Help! I have several numbers listed for Box 17 Codes V and AJ. See Below. Did I enter these correctly? Section 199A Items Box 17 - Code V:Ordinary Income (LOSS) 72W-2 Wages 9,588Unadjusted Basis 48,038 Box 17 - Code AJ:Aggregate Business Activity Gro... read more