Posted on 01/17/2023 9:34:08 AM PST by Dr. Franklin
The dam has burst...
Remember. Alinsky democrats always accuse others of their own conduct. It’s one of the rules for radicals. Pretty stale and worn out at this point.
The rental income would not show on Biden’s tax returns.
The family probably setup a real estate company the “owns” the homes and leases them out.
Typical money laundering operation. See the movie “Scarface” for “Montana Realty”
RULE 7: “A tactic that drags on too long becomes a drag.”
Biden has become a drag.
Did the filings include his multiple S-corps and/or C-corps?
A thoroughly corrupt body politic and press in America has dragged on too long now, despite their ever increasing grip on control.
If true, there would have to be a K-1 from that partnership.
I cannot find the information again or the link but this is what I remember:
Sniffy Joe’s 2017 form E had around 10K in ‘rentals’.
2018 form E had 0.
This is when he was getting 50K monthly in rent from Hunter.
Yes, but it is separate from Biden's personal tax return and, perhaps, not reportable.
“If true, there would have to be a K-1 from that partnership.”
Yep, my brother and sister and I had a General Partnership active for real estate for over 25 years. K-1 every year.
We have a second newer one open now for an office building we own in a Trust, we sold it and are carrying the mortgage for the buyer. Very common, but they show up in either the regular tax return or in a Trust return if held in a trust.
and they lambast Trump for taking advantage of tax laws to manage taxes.
“Yes, but it is separate from Biden’s personal tax return and, perhaps, not reportable.”
K-1s are required to be reported, either in the tax return or a Trust tax return.
OK. So 600,000.00 in rental income is not “family income”. Where IS IT INCOME?
Why have not seen that income elsewhere in Biden’s “businesses”?
Could be held in a Trust, which means a Trust tax return.
There’s more combined tax knowledge here on FR than the entire IRS.
A couple of things to note about the tax returns.
1st is the income on Sch E pg 1 is for residential rental property in Wilmington DE. Of note is that no depreciation is being taken on this property which is a bit unusual. For a rental income of 50,000 a competent preparer would have taken depreciation on the property. That does not compute.
2nd is that a search of the Entities listed on pg 2 reveals they were created in 2017, however additional information is not available from the Secretary of State’s office with the payment of additional fees.
3rd is a search of Maryland CPA’s on the Maryland State Board of Accountancy does not show the preparer however the firm does appear. All ID numbers have been redacted SSN’s of the individuals, EIN’s of the Corporations, PTIN and EIN of the preparer.
If you are interested dig further see what else is there that this cursory look missed.
Others will also tell you:
K-1 flows through to the personal tax as it is the profit statement from an S-Corp treated as personal income.
C-Corp profits could appear as dividends or increase to equity if reinvested.
It very well could be on his personal taxes.
What makes you think the Real Estate company is in Joe Biden's name?
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