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All Forum Posts by: Jay Patadia

Jay Patadia has started 1 posts and replied 23 times.

Post: Looking to Hire a CPA

Jay PatadiaPosted
  • Investor / CPA
  • Somerset, NJ
  • Posts 24
  • Votes 13

CPA can practice taxes in all states of the USA. Key here is to look for CPA with real estate tax planning experience.

Post: Commercial Lender and REO Broker in North West Indiana (NWI)

Jay PatadiaPosted
  • Investor / CPA
  • Somerset, NJ
  • Posts 24
  • Votes 13

All,

I am out of state investor holding few SFH in NWI and planning to buy few multi families. I would like to get connected with commercial mortgage lender and REO broker located in NWI. I am in that are next week and would like to meet lenders and REO brokers.

Can anybody recommend?

Post: 203K Duplex Sale & Cap Gains

Jay PatadiaPosted
  • Investor / CPA
  • Somerset, NJ
  • Posts 24
  • Votes 13

IRS require to own the home and used it as your main home during at least 2 of the last 5 years before the date of sale to exclude capital gain up to $ 250k filing single or $ 500k filing married jointly.

Under medical reason or change in job circumstances, you can at least exclude partial capital gain of $ 11.5k ish as mentioned by Natalie.