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Updated over 9 years ago on . Most recent reply

User Stats

23
Posts
7
Votes
Terry Mewhinney
  • Plumbing Contractor
  • Grants Pass, OR
7
Votes |
23
Posts

Profit/loss statement and taxes for property

Terry Mewhinney
  • Plumbing Contractor
  • Grants Pass, OR
Posted

There is a seven plex I am looking at, I asked the owners for profit/loss statement, and taxes for the last two years. They are having a hard time coming up with the last two years taxes, they say they are lumped in with other real estate they own. They also give me profit/loss statements on standard paper, it looks like they could put any numbers on the statement they want. So, my question is, can the property be lumped into other owned property and they can't really single this property out to show the taxes, or do they have to file separately, for each property.  I will wait and see what the answer is for this question before I ask the next. Thanks everyone.

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