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20 March 2024 | 24 replies
I e had people living in my basement in my third floor in my carriage house.
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19 March 2024 | 22 replies
You can also not deduct "sweat equity" on your Schedule E.
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19 March 2024 | 5 replies
NOL from a negative AGI would not be stuck on the property.However if you only had negative rental income from a schedule E then the answers would look more like this.How/ where do I utilize that prior loss?
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19 March 2024 | 0 replies
Here are a few incentives as noted by the IRS:168(k) - Special Allowance for Certain Property (Bonus Depreciation)179 - Election to Expense Certain Depreciable Business Assets Other incentives included in the tax code, however, may reduce the need for a taxpayer to perform a cost segregation study because they give preferential treatment for certain qualifying 1250 property such as 168(e)(6) - Qualified Improvement PropertyHave you utilized either of these incentives as part of your cost segregation study?
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19 March 2024 | 5 replies
Even if you live in a Home or one of the Units you can still set the address or other units up on your "Schedule E" and claim the standard deductions.To be totally compliant I would tell you to refinance and transition the property into an Investment property and close it in an LLC.
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19 March 2024 | 15 replies
I have just sent e-mails to both of them.
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19 March 2024 | 46 replies
Our PG&E bill is 102% higher this year than last!
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18 March 2024 | 2 replies
Quote from @James E Fraley Jr: Recommendations for property maintenance and general contractors in the central Ohio area?
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20 March 2024 | 193 replies
Again, what is your s-p-e-c-i-f-i-c reason for doing this?
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19 March 2024 | 12 replies
But you better make sure all your ducks are in a row, all your facts, all your documentation, everything supports that your original intention from planning, acquisition, renovation, when and how you started marketing it for sale, etc, your history of other investments - your proformas, your e-mail correspondence, etc, all pointed towards that this was an investment / business use property and not a flip.