24 rent houses!!!!

[SueBaby]

Never had this problem before !
The question he had for me was does he have to tie his rent house deeds to his personal house? I said no but thinking later was that right---just shocked in seeing all those houses I have to deal with.

[Burke]

The question he had for me was does he have to tie his rent house deeds to his personal house?

Tie his deeds to his house? What is he talking about exactly. Don't understand the question.

[SueBaby]

Tie his deeds to his house? What is he talking about exactly. Don't understand the question.

I did not either just heard tie all deeds to his personal home????? I guess just ONE deed he meant? I am too.

I thought it meant something or heard something that was suspose to be important ? which I am just looking at a big shoe box and Wal-Mart bag here in a really big mess! I don't know if I am going to finish this til time to start the season again! thanks for letting me vent one more time.)

[Burke]

Haven't got a clue unless he is talking about using mortgage money obtained on his personal home to purchase/improve rental properties. That would not involve the deeds. Rental properties are treated all separately on Sche E or under one umbrella (say an LLC which owns them all for example). Completely separate from his personal home as far as ownership, and different tax rules.

[SueBaby]

Haven't got a clue unless he is talking about using mortgage money obtained on his personal home to purchase/improve rental properties. That would not involve the deeds. Rental properties are treated all separately on Sche E or under one umbrella (say an LLC which owns them all for example). Completely separate from his personal home as far as ownership, and different tax rules.

Yes, you are right and the tax client make me very confused and thinking off track in August plus his mess I did not have a clear head. thank you and have a good day.