Bruno Nunes
Purchasing Sheriff Sale Foreclosures
I’ve been trying to purchase real estate through the County Sheriff Sale process for about a year now as an additional method to flipping/wholesaling properties. I’ve successfully flipped 1 property and wholesaled ano...
Evelyn Guo
K1 loss tax report for non-resident state (NC)
Hi, I am using Turbo tax to file K1 form, the NC state tax is filed as non-resident alien. I had a passive loss form the syndication, I am not sure whether I should input 0 or the actual loss number in D-400 Schedule ...
Emily Chen
Columbus city tax
I live in California but own a rental in Columbus OH, do I need to report my total federal taxable income? Or will I only need to report my Columbus rental income on my Columbus city tax?
Angel Nieves
Best way to withdrawal 401k
Hello, I want to withdrawal from my 401k to have ready for an investment opportunity.Has anyone taken a withdrawal from their 401k retirement account during this covid pandemic? Per the Care act- an individual can now...
Rebecca Cramer
Room Tax and Tax refund...want to do vacation home # 2!
Hi everyone! So we just bought our first vacation rental in January and went live on airbnb in March and we are doing so well we think we can use the money we made over the spring and high season this summer for a dow...
Peter Forrest
This is a mess: Series LLC, Short-sale, Section 8 grrr
I got a new Series LLC (Delaware), and I am closing on a short sale on Nov 6th, and the property will go into the LLC as its own series. I plan to put section tenants 8 in the house. The short-sale property is curren...
Seidy Lasker
Do nonresident rental losses affect resident state?
Do nonresident rental losses affect resident state income? Also, if had a rental loss as a part year resident of 2 states, would you receive the benefit of the losses where the rental is located to reduce other income...
Valerie Treese
Individual state vs. single federal K-1
Can anyone share proof that a federal K-1 can sometimes result in lost tax benefits? I was recently told that unless an investor is in the top income bracket(s), they will not fully realize the tax benefits of a K-1 w...
Johan Specht
Transfer property title from LLC to personal name, Taxes?
Hi, I opened an LLC and bought 1 house under its name 3 years ago, the house came with the tenant included. I don't need the LLC any more and would like to close it and transfer the house title to my personal name (th...
Alan Langer
Real estate Deal with Tax lien
Hi,
I found a distressed seller who wants to get rid of his property.
His house appraised around 500k but the market value is more towards 440k
He owes the bank 410k and there is a 15k Tax lien on the house. The hous...