Stinson McElhinney
Trying to analyse selling of home for purchase of investment property
22 February 2023 | 5 replies
A much better deal because you can allocate the money whenever and however you want.
Ryan Metcalf
Uses of Loan Proceeds from 1031 Exchange
1 November 2021 | 4 replies
Usually the only way this will work is if the allocation to the actual real estate is greater than your net sale and the down payment on the real estate portion eats up your entire proceeds.
Guevara M.
Should I be taking a depreciation on my rental?
22 September 2012 | 30 replies
Only the capital gain allocated to periods of qualified use are eligible for the $250K/$500K Section 121 exclusion.Whether the property was originally acquired in a 1031 exchange or simply purchased for investment rental use does not matter for this new tax rule.Here is an example under the new rules.
Jacob Sontag
Evaluating My First Duplex Deal Analysis House Hacking
11 September 2015 | 3 replies
If your lender is telling you that your monthly payment will be $1,450, then he is only allocating less than $200 for taxes and insurance, which seems EXTREMELY low.
Steven Chen
Made 800k in stocks in 2020; real estate strategies to lower tax?
16 May 2020 | 25 replies
It depends on what is allocated to building.Also, if hes doing this within a fund he invests in.
Bob Crummer
4plex guidance please!
16 May 2019 | 6 replies
He has been helping teach me and is willing to take a chance with me...I have allocated 5k for closing costs, with a small buffer for other fees.
Aqil Dharamsey
Third party fire adjust
6 January 2017 | 3 replies
I got a call from a local fire adjustment company who is saying they can help me with the claim and can get me more money to make sure I don't have to cut corners when repairing the damage because of limited funds allocated by the insurance company.
Craig Garrow
Offering up a Partnership with a good client of mine - thoughts?
21 June 2018 | 3 replies
Just something to think about.Generally speaking when I look at a deal that I am going to partner on, I allocate (very roughly) 33% of the deal to finding the deal, 33% to funding the deal and 33% to "working the deal"....And I adjust those up or down depending on the circumstances.
Michael M.
Capital gains on real estate sale - Buying in same year? (Bronx)
13 March 2018 | 6 replies
Because you have lived in that property for 2 out of the previous 5 years you can sell and take the amount of gain allocated to the primary residence portion tax free up to the $500K exclusion limit (if you're married).2.
Joe DeLuca
First Property, Year 1 tax question
1 November 2018 | 4 replies
All expenses are allocated between them.For your personal part - you will probably stay with the standard deduction and essentially throw away 1/3 of the triplex expenses, because the new doubled-up standard deduction is likely to be greater than itemized.For the rental part - all income and expenses are reported in a separate place of the tax return, Schedule E.