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25 September 2024 | 10 replies
I cannot recall rate we pay - but essentially answer is you still pay.Also the 250k/500k primary deduction is prorated as well depending on how long rental vs primary.
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27 September 2024 | 11 replies
After that it’s best to transfer the property to an Ohio tax deduction qualifying entity.
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23 September 2024 | 10 replies
What’s also true is that you can deduct expenses and even depreciation on this same % and subtract the first $1000 before calculating the UBIT.
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27 September 2024 | 18 replies
Well, I think I can deduct a lot more things in the US.And in Canada I say that everything has already been declared in the US.
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24 September 2024 | 11 replies
S Corp status comes with a deduction and then the VIE will bring on the deeper deduction, as long as you have the structure in place
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24 September 2024 | 8 replies
I am having a hard time finding insurance underwriting for the three-family that I am purchasing:https://www.redfin.com/PA/Pittsburgh/7209-Penn-Ave-15208/hom...The only policy I could get a binder on was from Tapco in North Carolina with a $10K deductible for $5500.
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23 September 2024 | 1 reply
Will I lose depreciation deductions if I use Roth IRA fund?
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27 September 2024 | 44 replies
which entity claimed the operating deductions and which entity claimed the depreciation?
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24 September 2024 | 1 reply
You have no ability to make improvements to increase the value (and benefit as the owner); you can't deduct mortgage interest on your taxes as you don't hold the mortgage; and you can't own it while the value rises over time.
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24 September 2024 | 8 replies
On a related note, and I am running it by my CPA as well, but was just curious if anybody had issues deducting interest paid on seller finance deal?