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 Gary Bode, CPA is a Master's Degreed, nation wide accountant offering tax and business services. Member of AICPA and NCACPA. Our virtual office provides excellent service to long distance and international clients. Call (910) 399-2705 for a free phone consult. |
I’m a rental real estate CPA with lots of experience with Form 8825. The Form 8825 instructions cover only a few rental property tax issues. For a free consult please call (910) 399-2705. Your Form 8825 CPA probably reads the Form 8825 instructions every year. I do, at least. But I also look for . . . → Read More: Form 8825 CPA discusses the Form 8825 instructions | Form 1120S and Form 1065 | rental real estate issues Schedule E instructions don’t completely cover the landlord’s rental property tax reporting obligations. If you don’t have a local rental property CPA, consider calling me for a fee consult at (910) 399-2705. As a rental property CPA I re-read the IRS Schedule E instructions every year. However I mostly keep up with rental real . . . → Read More: Rental Property CPA tax accountant augments the Schedule E instructions | landlord tax issues Lots of Form 1099-A misconceptions exist. I’ve tried to offer tips that should be in the taxpayer’s Form 1099-A instructions. For a free rental property consult call (910) 399-2705. I’m a Form 1099-A CPA tax accountant because two of my specialties are rental real estate and cancelled debt. Form 1099-A doesn’t report cancelled debt, . . . → Read More: IRS Tax Form 1099-A CPA accountant discusses rental property foreclosures | Form 1099-A instructions | Landlord tax issues The Form 1120S instructions ignore S Corporation cancelled debt - go figure. If you don’t have a local Form 1120S CPA knowlegable in cancelled debt, consider calling me for a free consult. (910) 399-2705. IRS Form 1120S CPA tax accountants see rental property cancelled debt too. Rental real estate foreclosures and short sales aren’t . . . → Read More: IRS Form 1120S CPA tax accountant discusses rental property cancelled debt for S Corporations | Form 1120S instructions for line 11 of Schedule B | Form 8825 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 S Corporation cancelled debt is more than just line 11 of Form 1120S Schedule B. For a free phone consult call (910) 399-2705. As September 15th approaches, I’ve received several calls from S Corporation officers and CPAs asking about using Form 982, Reduction of Tax Attributes, with Form 1120S, U.S Income Tax Return for . . . → Read More: S Corporation CPA tax accountant discusses use of Form 982 with Form 1120S | Schedule B line 11 of Form 1120S page two | Form 1120S cancelled debt 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 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 | I’ll offer some tips for rental property depreciation over the life cycle of the building. Call for a free consult. (910) 399-2705. Schedule E CPAs routinely deal with rental real estate property depreciation. Sometimes I see landlord tax returns where the depreciation was incorrectly: Setup in the year of purchase on Schedule E, Supplemental . . . → Read More: Schedule E CPA tax accountant comments on Rental Real Estate Property Depreciation | Form 4562 Depreciation and Amortization Lots of tax consequences arise with the sale of a rental real estate property. I offer a free consult to landlords on rental property issues. (910) 399-2705. Rental real estate CPA tax accountants sometimes get calls from landlords once they look at the Form 4797 instructions when selling a rental property. The IRS estimates . . . → Read More: Rental Real Estate CPA tax accountant discusses IRS tax Form 4797, Sales of Business Property | rental property short sales, foreclosures, deed in lieu of foreclosure, abandonments, etc. | landlord tax issues |
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