All Forum Posts by: Anna N.

@Chris Seveney, I am also interested in getting started in the note investing business. 

Could you share where else to get more education?

@Steven Hamilton II

Thank you again for the taking to time to answer my question and your feedback! :)

@Michael Plaks

Thank you Michael!  That's a great analogy and makes sense of the situation :)

@Steven Hamilton II

Hi Steven, thank you for responding! I've read a few of your posts :)

Can you clarify what is meant by "The average person would not qualify as a business."? Does this mean it is unlikely that HML activities from an individual qualify for using a schedule C (under sole proprietorship)? I would love some clarity/advice on which direction I could go on this. Thank you.

@Steven Hamilton II

Hi all, I am also just catching up on this thread. I spoke with a local accountant and was informed that HML is not considered "business of lending" because individuals aren't comparable to the banks.

I was asking about setting the business up as a sole proprietor. I am also currently a W2 employee. I actively lend (HML) on about a dozen properties and hoping for some additional insight as to what determines "business of lending" on this scale. Has anyone filed taxes as a sole proprietor based on HML activities? It sounds like the responses on this thread says it can be done. What would the code be on line B of schedule C for this type of business set up?

Hi all, I am also just catching up on this thread. I spoke with a local accountant and was informed that HML is not considered "business of lending" as a sole proprietor. And that individuals can't be comparable to the banks. I also actively lend (HML) on about a dozen properties and hoping for some additional insight as to what determines "business of lending" on this scale. Has anyone filed taxes as a sole proprietor based on HML activities?

Hi, how can I tell if I need to file a 990-T form on a multi-family syndication investment based on the K-1 form sent to me? Part III #1 line has zero ordinary income and #2 line has negative net rental real estate income.  No other income listed for part III.  This is the first year K-1 for this syndication.  However, the information for Box 20, code V lists a high dollar amount and that is what I've been told is the line for UBTI.