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4 August 2020 | 20 replies
@Tamiel KenneyeQRP is simply another name for a Solo 401(k) plan.This thread is specifically about an existing Roth IRA, which cannot be rolled over to a Solo 401(k).That said, for certain investors who have qualifying self-employment, the Solo 401(k) can provide advantages in terms of higher contribution limits, strong Roth features in addition to tax-deferred savings, and the elimination of taxation on UDFI generated from debt-financed real estate.
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18 February 2019 | 4 replies
@Steve KirschYou may need to file a non-resident state tax return if you have an investment property located outside of your resident state.States try to avoid double-taxation by providing you a credit for taxes paid to another state.However, rental properties may calculate a tax loss which does not require a tax being paid to the other state.
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14 February 2019 | 7 replies
Be ready to smile and pay the tax at that point.As an aside, why don't you 1031 into some adjacent property and then farm it all using the proceeds and scale to help your parents out?
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19 February 2019 | 14 replies
You could sit tight in your current prop for 8 more months, use the Sec 121 exemption on the sale of that prop (B), and sell A via 1031 exchange to defer taxation and keep all your capital working for you.
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21 February 2019 | 7 replies
Assuming you and your wife lived in the house for at least 2 years before vacating and renting you won't have to pay any capital gains tax at sale.
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23 February 2019 | 12 replies
This allows you to defer taxation until whenever you sell the next property, which could be 1031 exchanged again.
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9 April 2019 | 7 replies
Taxation as it relates to partnership's can be very complex.
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20 November 2018 | 1 reply
If you are looking to expand your real estate investments going forward - you should look for a CPA that focuses on real estate taxation(Most clients are real estate investors).It can also help if the CPA is an investor himself(not required but helpful).You also want the CPA to know the tax laws in the state that you live in and the state that you plan to invest your real estate in.
27 November 2018 | 3 replies
If you get a mortgage on the house, you will have access the cash and there is no tax at all.
24 November 2018 | 4 replies
It is never good to hold under C-corp because of the double taxation.