Hey BP,I'm having a hard time visualizing the taxable capital gains on the backside of owning a property.Here's an example to help simplify my question:What gets taxed when you sell a property?

I hold my RE outside of my 401K, and have the full 27.5 years of depreciation to help shield my taxable income.

This is actually a complicated question and you should talk to an accountant, but in short, you generally will have a profit on each house that is taxable as you go.  

you won't pay tax on your cashflow but rather your taxable (net profit) cashflow.

If someone transfers the ownership of an LLC that holds property from one spouse to the other spouse is that a taxable event?

Is there a way to take cash out but distribute it to partners over time to reduce taxesCash distributions are typically not taxable unless they end up exceeding the basis in their shares of the entity.

Does the sale of part of your residence count as regular taxable income, or can it be taxed at a lower rate than my regular income? 

Thus, I would have my $10K + few interest (which I believe the interest is taxable) back, and the LLC would have $10K debt + fee from plastiq, on its business credit card.Would this strategy work?

I did however read somewhere that any income from renting out your rooms is taxable and must be recorded.

@Mary Schlabach2020 Tax year was a unique tax year - Certain unemployment income was considered non-taxable as a last minute change.A lot of taxpayers also changed to married filing separate to take advantage of stimulus payments eligible for one spouse.However, getting the tax return done at the last minute if you just have W-2 and a rental is taking too long.best of luck in your search for a replacement.