Russell Ferance
sale of rental property
I have owned my rental property for 22 years and recently sold it. I'm doing my taxes and realize that I need to calculate my depreciation over those 22 years. However I don't have my tax records that go back that fa...
Jay Bandi
tax planning/REPS/cost-seg/bonus-dep questions
Hi all, I need some advice as i am getting conflicting info from my CPA/agent/cost-seg companyI have 2 w2 jobs and 4 1099 jobs (all in same line of work). I will work close to 800-900hrs in 2021 in all that work combi...
Nick Pries
Wholesale Cold Calls
Hi, I have been using prop stream, driving for dollars and other lists. I need advice on that distribution of words when they answer the phone. People have been hanging up right away.
Ryan Pyle
Accounting for asset disposal - do I have to recapture depreciation?
When accounting for the disposal of an asset, I'm not sure what to do with the accumulated depreciation and book value of the asset. For example, I replaced the carpet in one of my apartment units. The asset was on th...
Nick Burkhardt
Bought my first Multi! Now what?
BP Community, we did it! My fiancé and I just closed on our first 3-unit multi in Southern Maine and are so excited to finally be off the sidelines, out of my parents basement, and in the game!The property is currentl...
Matt Kvalheim
Can R/E Losses on a property be used to offset Profits from another property?
Hi,I’m having a tax discussion with my accountant, and I just want to double check that he’s got it right, so I thought I would reach out to the BP community!If I own 3 SFHs as rentals and two of them produce profits ...
Pete B.
Live in then rent down payment strategy
We have used the strategy of buying with owner occupant financing, living in the property for over a year then moving into a new home, and renting out the prior home. I like it because it gives you a higher probabilit...
Allan Guerra
Workaholcizm vs being a great dad
I currently have an apartment where the rent from the tenant is lower than the mortgage. I will soon have $22K to invest in real estate, but I would like to accumulate more capital to invest in a duplex or triplex. I ...
Sahil Rohra
Depreciation and Passive Accumulated Losses
Hi,Had a quick question to confirm I am understanding how passive activity losses and depreciation (and depreciation recapture works). Please see below hypothetical example. Assuming I bought the below property and so...
Pesi S.
Is Depreciation Really A Benefit to Rental Investor Or a Trap
Hello,Depreciation is touted as one of the big benefits of buying investment real estate (rentals) . I am not able to understand the benefit of taking depreciation on a rental property. On one hand IRS rules force you...