Replies to post #29848 on LEE KRAMER'S ROOM: With Views

[hap0206]

I doubt it -- Real Estate is generally done in Limited Partnerships -- "pass through" entities -- As he has many (50+ ??) properties, his return would show only the net numbers from K-1s and 1099s -- maybe a bunch of losses as the tax laws allow depreciation, even as the properties appreciate -- he doesn't show the returns because so many numbers would be taken out of context --

I would guess that the IRS has more than one agent assigned full time in keeping track of his reported income/loss --

hap