Home     Law Advice     Insurance Advice     Community    
Tax Law : Federal, State and Local Income Taxes, Sales Taxes, etc. For Estate, Gift and Inheritance Taxes, Please Post Under Will, Trusts & Estate Planning
Go Back   FreeAdvice Legal Forum > TAX LAW > Tax Law
Reload this Page Real Estate Professional

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 02-06-2006, 09:13 AM
Junior Member
  
Join Date: Dec 2005
Location: Las Vegas, NV
Posts: 15

Real Estate Professional

Can a Landlord that takes care of everything from advertising, managing, repairs and other duties related to a rental property be considered as a Real Estate Professional by the tax Code?
  #2  
Old 02-06-2006, 09:47 AM
Senior Member
  
Join Date: Jun 2000
Location: Somnambulist University
Posts: 39,530
US Law Only - WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).

Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
  #3  
Old 02-06-2006, 10:03 AM
Senior Member
  
Join Date: Aug 2003
Posts: 1,848
No. A real estate professional is someone who buys and sells real estate to make a living.

And why would you want to voluntarily pay self-employment taxes on rental income anyway, especially if you don't have to?

Snipes
__________________
This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
  #4  
Old 02-06-2006, 04:42 PM
Senior Member
  
Join Date: May 2004
Posts: 41,365
Quote:
Originally Posted by JETX
US Law Only - WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE
Since we are dealing with mostly federal law on this particular forum, its not a big deal if someone doesn't tell us their state.
  #5  
Old 02-06-2006, 06:53 PM
Senior Member
  
Join Date: Jun 2000
Location: Somnambulist University
Posts: 39,530
Quote:
Originally Posted by LdiJ
Since we are dealing with mostly federal law on this particular forum, its not a big deal if someone doesn't tell us their state.
Okay, so with that.... we need to make a disclaimer on the forum saying:
"WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE, UNLESS your question solely involves an issue of US Federal law!!"

And expect people to be able to determine that fact BEFORE they post, right??
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).

Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
  #6  
Old 02-06-2006, 07:34 PM
Senior Member
  
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by JETX
Okay, so with that.... we need to make a disclaimer on the forum saying:
"WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE, UNLESS your question solely involves an issue of US Federal law!!"

And expect people to be able to determine that fact BEFORE they post, right??

**A: i agree and the tax code for each state may be different with respect to the subject question.
  #7  
Old 02-06-2006, 11:21 PM
Senior Member
  
Join Date: Aug 2003
Posts: 1,848
According to the location listed in the profile, which appears in the post, the OP lives in Nevada, which has no state income tax.

Snipes
__________________
This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
  #8  
Old 02-06-2006, 11:53 PM
Senior Member
  
Join Date: Jun 2000
Location: Somnambulist University
Posts: 39,530
Quote:
Originally Posted by Snipes5
According to the location listed in the profile, which appears in the post, the OP lives in Nevada, which has no state income tax.
I don't know how many times we have to explain to newbies.... a Posters location does NOT show up when posting replies...... and we sure as hell shouldn't have to go looking for it anyway!!!
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).

Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
  #9  
Old 02-07-2006, 08:21 AM
Senior Member
  
Join Date: Aug 2003
Posts: 1,848
With all due respect, if you look at the first post in this thread, it says in the top right corner, "Location: Las Vegas, NV".

Trust me, I don't have time to go hunting around for posters' info either!

Snipes
__________________
This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
  #10  
Old 02-07-2006, 08:32 AM
Senior Member
  
Join Date: Jun 2000
Location: Somnambulist University
Posts: 39,530
Quote:
Originally Posted by Snipes5
With all due respect, if you look at the first post in this thread, it says in the top right corner, "Location: Las Vegas, NV".

Trust me, I don't have time to go hunting around for posters' info either!

Snipes
This is getting ridiculous!!
The forum rules clearly say "WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE".
The poster did NOT do that.
When making a response to a post, the 'location' doesn't show up.
And finally, I don't care what the poster puts down for their location (if they do!). The ONLY relevant issue is what state venue applies to the problem or violation. And that is NOT necessarily the same as the claimed 'location'.

Jeeze, it is bad enough when people don't follow the rules.... and even worse when some idiot argues that they don't have to!!
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).

Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
  #11  
Old 02-07-2006, 08:41 AM
Senior Member
  
Join Date: Aug 2005
Location: St. Odo of Cluny Parish
Posts: 29,043
Quote:
Originally Posted by anelmida
Can a Landlord that takes care of everything from advertising, managing, repairs and other duties related to a rental property be considered as a Real Estate Professional by the tax Code?
[url]http://www.irs.gov/businesses/small/article/0,,id=146828,00.html[/url]
__________________
There are two rules for success:

(1) Never tell everything you know.
  #12  
Old 02-07-2006, 10:09 AM
Senior Member
  
Join Date: Aug 2003
Posts: 1,848
I didn't say they didn't have to follow the rules, though I suppose if we all refused to answer if someone doesn't follow the rules, they would either leave or start doing what they are supposed to.

Unfortunately, some people just can't read.

Snipes
__________________
This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
  #13  
Old 02-07-2006, 10:21 AM
Senior Member
  
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by Snipes5
I didn't say they didn't have to follow the rules, though I suppose if we all refused to answer if someone doesn't follow the rules, they would either leave or start doing what they are supposed to.

Unfortunately, some people just can't read.

Snipes

**A: or don't want to......
  #14  
Old 02-07-2006, 10:21 AM
Senior Member
  
Join Date: Jun 2000
Location: Somnambulist University
Posts: 39,530
Quote:
Originally Posted by Snipes5
I didn't say they didn't have to follow the rules, though I suppose if we all refused to answer if someone doesn't follow the rules, they would either leave or start doing what they are supposed to.
No one said that 'we' refused to answer. The appropriate reply when someone doesn't indicate their state is.... to provide them with 'the rule':
US Law Only - WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE

Seems pretty simple to most of us.....
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).

Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
  #15  
Old 02-07-2006, 10:46 AM
Senior Member
  
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
sound simple to me. Ignore the post and you get a bump from the writer.
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 09:35 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.