Your PALs would be suspended upon your contribution of the property.

We have a buyer for the property and now it has been discovered that the corporation paperwork was submitted to the state as a charitable contribution even though we are listed as a not for profit organization and have been listed this way for well over 40 years.

Any recommendations on a CPA who is familiar with taxes regarding hawaii real estate investments in addition to S-corp, LLCs, and backdoor roth contributions (i.e. properly filing form 8606)?  

Thanks for contributing to the BP community. 

For real estate investors, it’s a golden opportunity to adapt to market needs, contribute to solving the housing crisis, and achieve solid returns.

I have been made aware of some issues, including problems related to IRA money movement and incomplete deals, which have contributed to the delay in issuing refunds.I want to assure you that your refund has been approved, and steps are being taken to expedite the process.

@Tina Artigliere@Alicia ProkosFor these Quest Solo 401k plan account holders, what is essential is to find a new Solo 401k plan provider who offers a Solo 401k plan with the service and features that the account holder needs such as Solo 401k loans, alternative investments, Roth and Mega Backdoor Roth Solo 401k contributions, 5500-EZ & 1099-R preparation and filing, etc.The process entails restating the Quest Solo 401k plan where the Quest Solo 401k plan documents are replaced with the Solo 401k plan documents of the new Solo 401k provider. 

So we have "profits" from (a) appreciation of market value (b) cash-flow on rents (c) mortgage paydown via tenants contribution's toward purchase price (hey, what else do you call it when you paid 25% down and tenants paid the other 75% of the purchase price?

I think it should appraise for at least 600k and think 650k is reasonable.It’s fully renovated and fully leased for $5,200/month.I’ve reached out to banks to see if I could use cross collateral to be my equity contribution but at least so far they’ve also wanted 10% cash.I’d like to avoid coming out of pocket with cash.I was wondering if you had creative ideas on how I might be able to get this financed 💗

I am unconvinced that the new administration will meaningfully address the deficit and US credit will continue to erode gradually, contributing to rising rates.