But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).  

We need to learn more about how taxes work as foreign nationals investing in the USA, and what entities are best for tax/legal purposes. 

When dissolving your two-member LLC and selling a property, deferring capital gains taxes individually can be complex.

If the OP doesn't pay the taxes then the property will go to tax sale again and he will be wiped out.

And, Turbo tax Business software is $163.

Curious why any tax pro would argue with that.If filing state tax returns did not take any time or money, then there is no harm in filing them.

RE is generally taxed at the most favorable tax rates.

In my opinion, since the tax code is open to interpretation, I interpret as much of my costs as repairs unless something obviously falls into the definition of asset.

The SEC claims Fossum misappropriated hundreds of thousands of dollars from the funds by living rent-free in a fund-owned home and having the funds pay for extensive international travel and his federal taxes.

What are the tax ramifications of deducting interest on the two units we rent out on a first lien HELOC if we are parking paychecks and using that line of credit for personal expenses (groceries, gas, maintenance items, vacations, etc.)?