After a 1031 exchange, my replacement properties are now generating taxable income.  

Thanks to all of you who so willingly share your knowledge here, Dan Dietz Since all of that depreciation expense while you own the property reduces your taxable income, when you "recapture" it, it will be taxed at regular income tax rates.

Pay for housing varies per staffing agencies as some work to drive down you taxable income and jack up the per diems for their staff as its tax free.I'd start there

If the LLC did not have any taxable activity(Income or expenses) you will not have to file a return for that partnership.By the way, I'm near Gurnee.

Thank you guys.I really appreciate it, I think I confused myself too much by reading about rental property deductions and cost basis...On an average flip (mostly cosmetic) is there a rule of thumb percentage for how much taxable income would be left after deductions on a flip?

The IRS does not recognize the LLC as a taxable entity.

Of course, the interest you pay to them is taxable to them.

John Kerr @John Kerr ,Your taxable amount of gain will depend upon whether or not you lived in it before leasing it to tenants.

It would still be taxable income, but would not be considered an IRA distribution.

The UBIT applies only to the debt financed fraction of the net taxable income.Unfortunately, depreciation decreases your basis faster than a loan pays down the debt.