And the refinance is not a taxable event.

And if you convert it to a rental you’ll be facing a $200k taxable gain. 

The loss created by section 179 is limited to your total net taxable income amount from all "active" business income you have, plus any W-2 income. 

HI @Jimmy RojasYou have to show 2 years of taxable income to the IRS.

Did you have taxable income that could’ve been reduced utilizing tax strategies?

Meaning you get 4-5X the depreciation to defer your income from being taxable.

The current real estate environment that we've been in for the past several years hasn't presented any opportunities for deals like this.Because of the above bullet point, my real estate folio is kicking off a ton of profit each year which is fully taxable at ordinary income rates for me with federal plus state that means 42%From day one we've always self-managed everything, and built a great team of sub’s and handymen in every area, so that I’ve never had to do any labor.

Disallowed losses under wash sale rules increase the cost basis of replacement securities, potentially reducing future taxable gains.This post does not create a CPA-Client relationship.

Private funding from a relative may provide flexible terms and reduced financial risk, but formal agreements are necessary, and interest paid is deductible for you but taxable for them.Traditional investment property loans offer stability and tax benefits like deductible interest and property taxes but require larger down payments.

My questions are;Do I have to take expenses as a deduction in a year in which they occurred even if I do not get income until the following year  I have other rental property, but my taxable income on them after expenses is only gonna be about $5000 So is there anyway to roll over expenses to the next year since I cannot deduct the remaining 15,000 and expenses against my W-2 income?