Understand legal requirements like tax numbers, residence permits and use of a notary.

If she sells the property before that date, she would not qualify for the full exclusion unless she meets certain exceptions such as unforeseen circumstances like job loss, health issues, or other qualifying reasons outlined in IRS Publication 523.Regarding prorating the exclusion, unfortunately, there's no provision in the tax code for prorating the exclusion based on partial years of ownership or residence.

Hello,Can I include rental loss in my tax filing for last 3 months of 2023?

Does anyone have any experience using oil and gas tax deductions (Intangible Drilling Costs: 100% tax deductible during the first year and tangible Drilling Costs: 100% tax deductible) to reduce tax liability against Roth conversions ?   

If you're penciling it on, on your buy that's a bit optimistic and you'll have to likely understand your house value would then appreciate re-creating a re-finance loan with a new & higher tax basis and insurance which would likely not make it as affordable as you are penciling in.My best advice is to look to buy a value-add, something on the MLS for longer days or off-market.

I know that TD and Better do have HELOCS for investment properties, but I believe they are based on your tax returns/income.

Essentially almost every market in Pittsburgh is a C-market on that scale.Cashflow is a good way to go, but it depends on the financing options the investor has coming in and if you know how to calculate the true numbers prior to jumping into a deal.

The owner gets to defer taxes on the second half of his capital gains. 

I was forced to cash out my 401k in payments to minimize tax penalties, using it to complete house projects and pay off some debt.

We have substantial closing costs on the sale, primarily transfer tax and realtors' commissions.