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Updated over 5 years ago,

Kyle Affronti's profile image
Kyle Affronti's profile image
Kyle Affronti
  • from Johnson City, NY
  • Member since Jun 22, 2015
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User Stats

33
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10
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Kyle Affronti's profile image
Kyle Affronti's profile image
Kyle Affronti
  • from Johnson City, NY
  • Member since Jun 22, 2015
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Kyle Affronti
  • Johnson City, NY
10
Votes |
33
Posts
Tax, SDIRAs & Cost Segregation

IRS 1274 Due Upfront on Hard Money Loan

Kyle Affronti
  • Johnson City, NY
Posted

I have a friend who has been in talks with a hard money lender. On a $400,000 Hard Money Loan.

He already received a PPI of $12,000 and now he stated now that my friend needs to pay 6% of the loan which is a 1274 Tax payment.

I've never heard of this.

What is a 1274 and why if it's a tax payment is it due Upfront?

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