I am in the same boat I have a flip that I thought would sell for $459k I am now down to $419 and will have to drop until it sells.

If a Cost Segregation Study had not been performed on this $3,000,000 RV & Boat Storage Building located in Fort Pierce, Florida that was purchased in 2020, it would have had first year depreciation of approximately $10,225.

We have supplemented our income with plenty of add on packages, local partnerships (jet ski/boat rentals, breweries, restaurants, etc)

We were in the same boat as far as job time!

I too am in the same boat.

It's 2023 and I'm in the same boat as I was a year ago when I first discovered the program (haven't made my move yet).

While I dream all day of vacation property, you hit the nail on the head - buy a boat, and explore all the islands.

If what I wrote is not clear to you or if some of my assumptions are wrong, then stop your DIY attempt and hire a tax professional.I am in the same boat but I see it the other way around; I should use Form 8949 vs 4797 for almost this exact scenario: owned home almost 2 years, then rented 14 months, then sold.I moved after not quite 2 years due to military orders and qualify for a partial exclusion.I received 1099-S which p523 states "You received a Form 1099-S.

And good luck if you're in the same boat as me!

I'm in a similar boat.