A friend said her tax advisor told her she would need a Fed Tax ID number for her 2009 taxes if she wants to claim expenses on her rental property. She said the law used to apply to a higher income level but that level has been lowered and now includes many more landlords. We recently purchased an REO, fixed it up and have it rented so this information is very important to me to find out. This is supposed to be something new going into affect June 1, 2009. Does anyone know anything about this or can you direct me to where I might find information? So far I have been unsuccessful finding info on the Internet.
Thanks so much...
dpie