Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

50
Posts
11
Votes
Ellen A.
11
Votes |
50
Posts

3 investment properties 1040 form

Ellen A.
Posted

I have 4 homes. 3 investment properties and a primary residence. 


 I have used the same tax preparer For more than 20 years.  I'm new to real estate investing. I just started in 2018. My tax lady has said that she has owned investment property before and has  Instructed me on how to track expenses.

 She completed my taxes with a 1040 form.

Is that when everyone else uses? Sometimes I get stuck in loyalties and using the same person over and over not realizing that there are better options if I just switch.

I'm considering getting another tax preparer to review my documents. of course this would cost me more money.  And maybe now is not the time but in the future.
thoughts?

Most Popular Reply

User Stats

3,885
Posts
3,536
Votes
Evan Polaski
#5 Multi-Family and Apartment Investing Contributor
  • Cincinnati, OH
3,536
Votes |
3,885
Posts
Evan Polaski
#5 Multi-Family and Apartment Investing Contributor
  • Cincinnati, OH
Replied

@Ellen A. depending on the bookkeeping/tax prep software being used, that line very well could automatically show up, but with rentals it should be 0.  However, sometimes certain expenses could end up on that line if it does not have any net effect, since a schedule E has specific lines in it, and sometimes things need to be consolidated from bookkeeping to schedule E to fit the form.

  • Evan Polaski
  • [email protected]
  • 513-638-9799
  • Loading replies...