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By Gary Bode CPA, on September 20th, 2014% The tax reporting rules for rental property cancelled debt sometimes confuses landlords. Preparing Schedule E isn’t enough when you have a rental property foreclosure. I offer a free consult on rental property issues, including Form 982. (910) 399-2705.
Schedule E CPAs work with rental property cancelled debt and Form 982 daily. And, of course, . . . → Read More: Schedule E CPA offers tips on rental property foreclosures | rental property cancelled debt | Insolvency and Discharge of qualified real property business indebtedness exclusions on Form 982 |IRS Form 1099-A and Form 1099-C
By Gary Bode CPA, on August 23rd, 2014% Gary Bode, CPA: I keep current on Form 8825 and Schedule E issues because I have rental property in my extended family. (910) 399-2705
Form 8825 CPAs worry about IRS red flags on rental property issues. Form 8825, Rental Real Estate Income and Expenses of a Partnership or an S Corporation, is the S . . . → Read More: IRS Form 8825 CPA tax accountant advises on Rental Property IRS Red Flags
By Gary Bode CPA, on August 20th, 2014% Depreciation recapture increases your gain, or decreases your loss, on a rental property sale. You get dinged whether you deducted deprecation expense or not. Sometimes IRS Form 3115 let’s you break even. For a free consult call (910) 399-2705.
Rental real estate CPAs deal with rental property sales and depreciation recapture on IRS Form . . . → Read More: Rental Real Estate CPA tax accountant discusses depreciation recapture on rental property sales | depreciation allowed or allowable | Form 3115, Application for Change in Accounting Method |
By Gary Bode CPA, on June 14th, 2014% The most common error I see when amending a Schedule E landlord’s tax return is not deducting previously disallowed rental losses when the rental property gets sold. I offer a free phone consult on any rental real estate tax issues. (910) 399-2705.
In 2014, rental real estate CPAs still see plenty of rental property . . . → Read More: Rental Real Estate CPA discusses previously disallowed rental losses for active participation upon rental property short sale, foreclosure or abandonment | IRS Schedule E and Publication 527
By Gary Bode CPA, on December 28th, 2013% I’m seeing more S Corporation IRS Form 1099-C(s), Cancellation of Debt. (910) 399-2705.
As an S Corporation CPA and cancelled debt sub-specialist, I’m seeing more S Corporation Form 1099-C(s), Cancellation of Debt, probably as delayed fallout from the Recession. The tax treatment of S Corporation cancelled debt isn’t covered well in the IRS Form . . . → Read More: S Corporation CPA discusses S Corporation Debt on Form 1120-S | Form 1099-C, Cancellation of Debt
By Gary Bode CPA, on September 30th, 2012% Gary Bode, CPA: real estate can be impaired and written down under some circumstances. (910) 399-2705.
Real estate CPAs saw more real estate related impairments and write downs during the recession. Hopefully that will change for the 2013 tax season.
“Management should be aware of indications when real estate costs may not be recoverable.” . . . → Read More: Real Estate CPA discusses Impairments and Write Downs | FASB ASC 360
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