In one of the email from her last year, she said "We will be able to use the FIRPTA withholding tax on your 2023 US return against any possible tax payable so you will either receive most or all the withholding tax back on the 2023 US return"However my selling agent told me that I need to pay tax for 20% capital gain, so I am unsure if I will actually get most of the withholding back, or I will need to pay a significant amount to IRS.purchase price about 12 yrs ago was $80k + costs.

It has been difficult to find a good CPA with knowledge in PR tax law and Federal and State tax law.

The new rules will go into effect this Spring (2024) and include measures such as registration of vacant housing, inspection requirements to transfer property and the requirement that out of state investors have a "local agent in charge", a representative on the ground in Cleveland to be held accountable for the condition of the property. 

I am currently waiting to hear from my real estate agent but I think a new construction home around 1400 - 1600 sq ft should sell somewhere between 300 and 350k, there was a recent comp that was 1600 sq ft that sold for 335k.I am still working on figuring out costs to build the house but I think/ am hoping for somewhere around 235-260k. 

Flipping is a self-employed job with high risk and high transaction costs.By the time taxes and agents are done with you, the juice is rarely worth the squeeze.   

I wish my NY agents were licensed in TN. 

Hi all,I am residential real estate agent currently in the process of purchasing a property management company (mainly the contracts held).

You can file amended Federal and State returns to claim the missing deduction. 

As a Real Estate Agent I was working with a client on the same street.

I'm an active agent/investor and can actually run the entire project, purchase, and sale.