All Forum Posts by: Ryan Fox

@Juan Lizarazo- Quickbooks.  I was using Stessa before but it didn't allow you to account for other income and expenses, like salary, groceries, ect.  You can add your own categories in QB so you can account for all that stuff.  This is probably not the way you're "supposed" to used QB but I didn't want to get two softwares - one for business and one for personal.  

@Eden Elhar- I think I know an immigration attorney who could help if you'd like a referral.

@Issa Santos- I found 8 lawsuits they've been in, but I don't know of the details.  They're in GA, FL, and TX.  Of course just being sued isn't proof of anything.

Appreciate all the responses.  I'll check with my accountant to be sure.  

@Michael Plaks- Yes, that is how I calculated the gain.

So I wouldn't owe depreciation recapture?

I'm asking this question because I'm getting different answers from different CPAs as to how much I would save.  I'd like to sell one of my rentals and put the proceeds into stocks instead, but if the tax hit is too high, I'd do a 1031 exchange.  

The gain on the sale of the rental property would be about $58k after expenses.  For this year, I currently have about $131k in short-term capital losses outside of real estate.  I have no other short-term gains to offset those losses. 

Since I bought the property in 2019, I've written off about $13k in depreciation.  How much would I save doing the 1031?  TIA!

@Jonathan Cisneros- Sent you a DM.

@Jonathan Cisneros- What part of LA?  I may know some people.

@Matthew Slaughter- Right on.  I'm just trying to make sure you'd be likely to win the eviction if you had to do that.  In hindsight, @Kevin Sobilo's suggestion is a much more diplomatic way to do it that could resolve the issue without going to court.  

*Same disclaimer as above.

@Matthew Slaughter- Yes, that sounds like a good plan.  Does your lease say anything about ensuring the quiet enjoyment of the other tenants in the building?  If so, I would specifically cite that paragraph.  In most leases, the "quiet enjoyment" paragraph is one that explains the landlord's obligation to provide quiet enjoyment.  It's not phrased as an obligation of tenants to provide quiet enjoyment to one another. 

Even if your lease isn't phrased this way, it would be a good idea to send the police report to the tenant and explain your position that it's a violation of the lease.

*This does not create an attorney-client relationship.  This is not intended as legal advice and is for informational purposes only.