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11 September 2024 | 4 replies
It will be nice to connect with other Newbie investors in the area and exchange plans and ideas.
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12 September 2024 | 10 replies
Under IRS rules (see IRS Publication 925 on Passive Activity and At-Risk Rules), when you sell a rental property, all suspended passive losses from that property and the rest of your portfolio become deductible in the year of the sale, provided you fully dispose of the activity and it is not exchanged for another property (like in a 1031 exchange).If you have $100K in losses from your entire portfolio, those should be applied to the capital gain from the sale of the property—not just the $50K from the specific property being sold.
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11 September 2024 | 7 replies
Question 1) does the depreciation recapture follow thru the 1032 exchange where you still keep track 50k worth of recapture?
11 September 2024 | 9 replies
Since each taxing municipality has different mill rates (property tax rates) a 1031 exchange into a state or municipality within a state where the mill rate is lower can help.
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11 September 2024 | 6 replies
I think the best bet would be to surface it to all the local investor groups here.
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9 September 2024 | 14 replies
Just focusing on the tax issue for you: 1031 Exchange in 2025: If the leaks keep coming, selling and doing a 1031 exchange into a more reliable multifamily could be your best move.
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12 September 2024 | 6 replies
Best bet is to establish a heloc if you intend to borrow funds short term.
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10 September 2024 | 10 replies
I would try and do a 1031 exchange.
10 September 2024 | 7 replies
If the property is bleeding money every year from repairs, maintenance, or turn over you'll never get ahead.You can tap equity with a HELOC (challenging right now), cash-out refinance into a new loan (much higher rates), 1031 exchange, or sell (tax hit) but the numbers and property condition need to guide this decision.