Passive K-1 LP investor looking for a new CPA

Passive K-1 LP investor looking for a new CPA

Rental Property Investor · Ann Arbor, MI · Member since 2019 · 71 posts · 67 votes

Any CPA's out there looking for a new client, even if you're busy?(I'm patient and will need an extension anyway due to my K-1s) I have been trying to find a new CPA for my 2021 taxes and so far the only ones who have real estate specialties that I have been able to get a hold of are those who assist active investors who structure the deals as a GP or RE investing is their main source of income. So filing isn't the main source of their income, it's a more broad approach. I just want a CPA or EA who can prepare & file my taxes. 

I'm a passive LP investor who works overseas as a civilian defense contractor so I take full advantage of the FEIE(form 2555). I am invested in half a dozen states into private multifamily & commercial NNN syndication deals, so I'll have a handful of K-1 forms for 2021 needed to be filed in 6-7 different states to preserve my state income tax loss carry forwards. Is anyone interested? If so, please DM me. Thanks.

-Evan


P.S. If you can handle my real estate forms but are turned off by form 2555 or haven't dealt with it before, just an FYI it is a very basic form and I have all the information you need to complete it. 

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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    4y

    @Evan Loader

    You definitely want a more experienced CPA when it comes to K-1's / Passive investments.

    I have seen issues where new accountant's will not properly carry over passive loss carryforwards.
    I have also seen issues where accountants will file state returns where not required. Some complex K-1 packages will include a federal K-1 plus 10 state K-1's but in reality, there is only sourced income in maybe 5 states. The other 5 are informational / resident filings.

    Best of luck to you in your search.

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