
16 October 2021 | 0 replies
If I claim my parent's as my dependent since I will basically take care of their every need would I still qualify?

25 October 2021 | 6 replies
The long-term (10k/mo passive) can be pretty overwhelming and seem unrealistic as your sit and contemplate where to spend your 55k.

25 October 2021 | 2 replies
The ones Ive seen that claim to be free ask you to sign up for a trial membership which will then begin to charge you if you dont cancel.

25 October 2021 | 6 replies
Thank you for response, as this is our first foray into being being a landlord and we rehab'd property to high standard we may be unrealistic in expectations, I guess pride of ownership comes into play.

25 October 2021 | 4 replies
When I sell 2027, Should I pay capital gain tax for entire 500,000 or pay partial capital gain tax (500,000 - 200,000= 300,000) for only when the home is being used rental (2022 Feb - 2027) Your primary residence will qualify for $250k ($500k if Married) gain exclusion if all following requirements are met: You owned a home and used it as your main home during at least 2 of the last 5 years before the date of the sale.You did not claim any exclusion during the last 2 years.You did not acquire the house with a Like-Kind exchange during the last five years.

27 October 2021 | 3 replies
If I’m unable to get a tenant moved in before the end of the year, do I still claim depreciation on this house?

26 October 2021 | 0 replies
If your income is less than $150,000 per year, you are allowed to claim up to $25,000 in passive losses.

11 December 2021 | 43 replies
As long as your claimed income on your taxes matches what you are receiving, this is no issue.The current administration is taking a very aggressive stance on tax enforcement.

3 January 2022 | 3 replies
Also I heard from a friend in construction that non-insurance claims would go faster in a really bad scenario compared to homes waiting on insurance - conjecture so who knows.

8 November 2021 | 6 replies
The taxpayers claimed that the exchange of the homes was a like-kind exchange under 1031 because the properties were expected to appreciate in value and thus were held for investment.