Real Estate Audit Assistance – Killer IRS Help
Real Estate Audit Guidelines – What To Do And How To Come
Out On Top!
If you are involved in
real estate transactions and you received an notice or letter from the IRS, we can help you. The IRS has just notified you that you are currently in a real estate audit, what do you do? Whether you operate a business or are a personal investor, the rules for reporting real estate transactions can be tricky. Let the professionals here at Joe Mastriano P.C. represent you. You don’t want to face the IRS alone.
Rules for Computing Gains and Losses
There are specific rules concerning passive and non-passive activity. Specific rules concerning at-risk, long and short term gains, inherited property, and like-kind exchanges. There are specific rules concerning property converted from personal to business use. There are also specific rules on property repossessed by the seller. The truth of the matter is, different rules apply to each case differently. Make sure you know how to handle your real estate audit by contacting us today at (713)774-4467, so we can speak about your particular issue. We can structure a plan that will benefit you the most.Did you account for the expenses on the closing statement properly?Did you write off any real estate transactions as bad debts?Involved in installment sales or involuntary conversions?Will this qualify as a capital loss?Will I be able to exclude any gain from the sale of my main home?We can help you protect yourself from the IRS charging you additional taxes from not applying the correct rules to your real estate transactions. Surviving a real estate audit can be very difficult without proper professional help. We want to be your professional IRS audit advisers.
We can assist you in many areas involving any type of real estate transactions. Some of them include…
Owning and Operating Real Estate AssetsPassive Activity RulesProperty Held as Inventory Versus for RetailRehabilitation Tax CreditReal Estate LeasesReal Estate PartnershipsReal Estate LLC’sReal Estate Corporations1031 Like-Kind ExchangesRental PropertySale of ResidenceBusiness or Rental Use of HomeForeclosures
Whether or not you are being audited by the IRS examination division, we strongly urge you to contact us regarding any real estate tax issues. Don’t let your audit escalate to a criminal investigation matter!