Catharina Wachtel
House Flipping with TN Visa
Hi everyone
My husband and I are both foreigners. I am German living currently in Mexico and my husband is Mexican living and working in the US with a TN visa. We both would like to get into real estate, we are just ...
Mila F.
De Minimis Safe Harbor - before property placed in service?
I stumbled over this thread from a few years back on DMSH election for costs incurred prior to placing a property in service. It was a heated debate with no consensus: https://www.biggerpockets.com/...What's the in...
Jeremy Bourgeois
Single Family Cosmetic Fix & Flip
Investment Info:
Single-family residence fix & flip investment in Killingly CT.
Purchase price: $180,000
Cash invested: $20,000
Sale price: $210,000
I vividly remember that my return on th...
Brandon Shewbridge
OK Tax Gurus - Here's One For You
ScenarioA 401K loan was for partial funding on a personal hard money loan. The loan was defaulted on and the result was a total loss. The 401K loan was converted to a distribution when switching jobs so prepayment pe...
Robert P.
Tax Implications with buying house?
I just purchased a 2 family home which is being rented out. Are there any NEGATIVE things, tax wise, that come from purchasing a home? I know I can write off expenses, etc to help me out....but anything with a negativ...
Eric Williams
Capitalization Exception - Materials and Supplies
Per Indopco, capitalization is the norm, while deductions are the exception.In other words, instead of asking do I have to capitalize this, ask, what Code section provides an exception to capitalization.One such metho...
Adam Taylor
Selling vs. Keeping as a Rental
Deciding whether to sell or rent out your home hinges on financial factors like immediate cash needs versus long-term income goals, alongside market conditions in your area—favorable for selling if it's a seller's mar...
John W.
Commercial Property LLC tax return
Hi I'm new the forum and would appreciate some help. My wife and I purchased a commercial property under an LLC in Nov 2015. We do not run a business out of it and have not rented it out yet. In 2015 we paid some prop...
Derek Coleman
need help asap
I'm just starting out
I formed a LLC
I found a home and I was securing financing for the property
The mortgage broker said that the interest would be 6.55, no-money down and I would have to co-sign for the LLC after ...
James Presley
assigning of contract
assigning of contact to reo's, can this be done and if so what is the best way to go about doing this?