@Tyler Speelman, A 1031 exchange solves the tax issue. 

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

This is a great place to learn and to connect with people so take advantage of all the great resources.

Maybe that is why the old owner didn't pay their taxes?

And she’s the one that released the latest tax rates and year to year comparisons in September of 2024.

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

Flipping homes in San Diego has been an incredible journey, and over the years, we’ve learned a lot about what works—and what doesn’t—in this market.

Tax credit 45L for a 90 unit or 112 unit project? 

Hi All, any input on renovating a house and possible tax exemptions under an LLC?