All Forum Posts by: Brandi T.

 Thanks for the reply!  

I'm figuring a year end tax payment - we sold a rental property for a gain (held more than one year) and will have K-1 losses from two syndications that we are LP.  

Turbotax is allowing the losses from the K-1 to offset the gain from selling the rental...based on Section 469(g)(1)(A) 

Can someone confirm that seems right?  I had expected to pay tax on the gain and the suspended losses would continue to grow until the syndications were sold.

@Theresa Harris  Texas doesn’t have income tax - that’s one reason property tax is higher.

@Karla Simmons no way to know yet...see my post above about the assessments (come out in April) vs the max amount the taxing authority can increase their revenues (tax bills come out in October).  I also invest in Williamson County, Texas (outside of Austin, explosive growth) - definitely anticipating a hefty increase.  Most people investing here are hoping for appreciation gains because cash flow is VERY hard to come by!

@Mukul Patil...see @Greg Powers reply.  That's how it works in Williamson County/Texas.  I've attached some documents if you want to research more but there is a max amount that the revenue can be raised by the taxing authority each year so your tax bill will go up but it's not a straight forward calculation of the same percentage that the assessment goes up.

https://www.tml.org/DocumentCe...

https://www.texaspolicy.com/legepropertytaxreform/#:~:text=In%202019%2C%20the%20Texas%20Legislature,decide%20on%20big%20tax%20increases.

@Carson T.

https://communityimpact.com/austin/cedar-park-leander/business/2021/08/24/california-knife-manufacturer-moving-headquarters-to-leander/

Are they good tenants?  If so, I would probably not increase it the full amount.  I would go somewhere around half and try to get the other half next renewal.  I live in Cedar Park so understand what's going on with the market here....

They are very easy to do online with Williamson County - they have an express protest - comes back in about 24 hours.  More than likely you don't have much of a protest because the values have literally skyrocketed here!  Did they send the comp sheet?

do you mind sharing updates?  I'm interested also.