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15 July 2019 | 11 replies
Can I say that is not their business, and claim that I received prior written consent for those subtenants to live there?
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18 September 2012 | 1 reply
Not sure how the LTV will affect your qualifying, but they won't use any rental income received for the second property (if OO loan that is supposed to be where you live) towards qualifying for the new OO loan for the 3rd, and they will use the entire payment against you on the DTI -- check out the "buy and bail" rules.Not sure I am explaining that too clearly, but others here can probably say it better than me.
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21 September 2012 | 18 replies
In exchange for the condemned property, the owner receives a reasonable amount of money or property called a condemnation award.If a taxpayer receives a condemnation award of money or unlike property and purchases qualifying replacement property within a specified period of time, they may elect to postpone all or part of the gain realized on the condemnation.
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1 November 2012 | 6 replies
i'm taking the class at a local community college. so i'm hoping that text book would be more in depth.
19 September 2012 | 4 replies
I refused until I received the full amount from him.
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29 March 2013 | 9 replies
I just put up ours less than 24 hrs ago and received 3 leads.
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18 January 2014 | 13 replies
We both will just keep paying more in debt service, but receiving TWICE more in income.
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23 October 2012 | 11 replies
Again, I did not notice this until it was too late.So... the buyers were 3 payments past due and had not reimbursed me for the last homeowner's insurance I had paid (because I received a cancellation notice).
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22 September 2018 | 15 replies
., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
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21 September 2012 | 3 replies
Steve is correct but let's understand that the an installment sale includes the principal of your basis in the property and the profit from the sale is recongnized as it is received, you're no worse off than if you had a cash sale.