Do I need a CPA based in California to sell a rental at a loss

[Randy Klafehn]

I purchased a home back in 2004 and it became a rental about 10 years ago. Uanfortonally, it has been underwater for the last 8 years, now that is finally breaking even it's the right to sell it. I live in New Jersey and plan to buy 2 single or multi income properties in the next year (not in California). 

At this point I would like to start a long term relationship with a CPA or Tax prepairer. I had one in 2013 this is retired that setup everything and have been doing it myself. Nothing substantial has changed over the years. 

1) Due to depreciation and loss carryovers do I need a CPA base in California?

2) Do I need a CPA or is a Tax pre-preparer that deal with real-estate good enough. 

Any advice would be appreciated.

Randy

Randy

[Bill Hampton]

Randy, I recommend finding an accountant who specializes in real estate taxation over one that is located California. 

Are you comfortable working with your CPA remotely? If so, there are 20+ accountants on this site that specialize in real estate taxation. 

Check the forums, reach out to a few and see who you connect with.

Good luck and let me know if you have any questions.