GPL Tax Return

Our system generates Schedule E automatically to help you to file Tax Return.

• Schedule E Reference

• 1099-Misc from Housing Authority if applicable

• Also we use 1099 Misc eFiling system to generate 1099 Misc as needed.

• For QBI qualification, please refer to the document below.

QBI Qualified Business Income

• In the most cases, you are not qualified QBI since you are not involved with the property management.

• You can read the following literature to fully understand the qualification.

Tax Cost Segregation 

• For rental properties, we do necessary repairs and maintenance only. The costs are fully deductible in the same tax year in the categories: Repairs, Supply and Maintenance.

• However in some circumstances, we have to do a complete renovation if the property is not repairable. In this case, the costs will be reported in the Improvement category.

• The improvement costs can't be deducted fully within the same year. You have to consider to use Tax Cost Segregation strategy below.