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Results (10,000+)
Melanie Baldridge “active income” and “passive income"
20 December 2024 | 0 replies
There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.
Frank Alfano New to BiggerPockets: Seeking Tips on Private Lending - Finding Multifamily Property
22 December 2024 | 12 replies
My PMLs are people with self-directed IRA who are perfectly fine with 5-year term while earning double-digit returns passively tax-free in their SDIRA. 
Brock Bernall New Real Estate Investor
20 December 2024 | 7 replies
A turnkey property is already renovated and ready to rent, so you don’t have to worry about repairs and can start earning right away.
Cathy Fitzwilliam BRRRR in San Diego for new investor
21 December 2024 | 11 replies
And Chula Vista or Escondido are great areas for first-timers who want to stay near SD but reduce entry costs.Network at local meetups like “Beers and Deals” - The connections you’ll make there can open up off-market opportunities.Where did you end up starting starting - SD, or did you end up in nearby markets to get your first win?
Kent Fang ching Guidance on OOS markets to get into
24 December 2024 | 44 replies
The state’s housing is also ranked as the fourth most affordable in the country.Alabama currently has the second-lowest average property tax rate in the country at 0.4%, which helps investors keep more of the money they earn.
Account Closed When to take profits out of Rental?
21 December 2024 | 18 replies
Earning an extra 3% on $2k that you’re likely holding for less than a year.
Rud Sev High level of taxes for syndication
20 December 2024 | 20 replies
Upon sale, gains are taxed as long-term capital gains, calculated as the sale proceeds minus your adjusted basis (initial investment reduced by any return of capital).
Shawn Nofziger Real Estate License? Yea and nah?
20 December 2024 | 19 replies
Most sellers will laugh when you ask them to reduce the price by 3% because you're not using a buyer's agent.....You can buy and sell your own  properties without a license anyway...  
Cory M. No W-2, Looking for Loan Options
21 December 2024 | 14 replies
Great if you want to add rentals or non owner occupied properties to your portfolio but not so great if you wanted that winter log home in big bear CA or Mammoth lakes, CA.The good news is you're from TN so you have no earned income tax from the state on wages only interest and dividends in certain cases so thats a pro right?
Tinia James Made no profit this year should I still file taxes?
20 December 2024 | 9 replies
Reporting these expenses on your personal tax return (likely Schedule C for a sole proprietor) could result in a net loss that might offset other taxable income, reducing your overall tax liability.