Several errors occurred in the sale of the home I bought that I believe the real-estate dual agent should have caught, but didn’t. The most major was that the home was sold to me as a much younger home than what official records dictate–that was a primary consideration for why I bought the home. All of this is in writing. I may not have legal grounds to prove fraud, but a notable material misrepresentation is present and documented. How might I be able to make a claim against the agent’s Errors and Omissions Insurance for the misrepresentation? Thanks for whatever help you can give me.
How Can I Make A Claim On A Real Estate Agents Errors And Omissions Insurance?
How Do You Know If You Can Claim Real Estate Professional?
I don’t want to get audited by the IRS but I hear that Real Estate Professional – non passive activity is a big issue – can you tell me what the IRS will question and look for if I claim Real Estate Professional, do they require anything when you are audited? Please advise. Any help will be great!
If I Claim To Be A Real Estate Professional For Tax Purposes, Is My Income Subject To Fica?
I qualify as a real estate professional for tax purposes. I own and manage over 25 rental properties. I have not claimed that status in the past. I have recently married and my husband has retirement and investment income in excess of the maximum income amount allowed under the passive activity rules. If I make a profit from my investments, am I subject to FICA taxes on that income? Is there a downside to claiming real estate professional status?
