Quote:
Originally posted by pbs911
I would seriously suggest plopping down a grand and getting advise from an attorney.
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Talk to a CPA :P (Then again, try finding one
this week.)
You'd probably set up an S corp, which is a flow through entity. Rental income is a passive activity unless you're in it full time. If your AGI is over $150K all the losses you produce will be eliminated. Check out pub 8283 (I think - if I have to loko it up I'll charge you
on Passive Activties.
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Rosewood 1983 911 SC Targa | Black 1990 944 S2 | White 1980 BMW R65 | Past: Crystal 1986 944 na
Guards Red is for the Unoriginal