can depreciation from a rental property be used against paycheck income?
My wife is a realtor (sole proprietor ) and has $0 income so far. I'm a full time employee. We usually file taxes jointly. Can we apply any of her deductions to our combined income? Or will her "business expenses" onl...
Sorry for the delay. It took me a bit to retype this. Some of the price fields are blank and also where I put "house we purchased", that actually originally read the address or you could put the street name house. Exa...
Investment Info:
Other other investment in Omaha.
Purchase price: $3,480,000
Cash invested: $30,000
Sale price: $4,380,000
Assignment of 147 SF and 21 MF Lots from one developer to a large produc...
hello BP, question about doing my taxes this year.. I bought a duplex and took out a 20,000 loan to fix it up.. I would like to buy another property this year and need every penny of income to help show the bank to qu...
Looking to see how much in taxes I would pay to sell house.Paid=$123kSelling=$180kOwe=$89kLocated in NCOwned house 16 years but have not lived in home in over 6 years.Got ruff estimate on how much in taxes I will have...
I am single and own a house free and clear and it's worth about $500k. Under current laws I can only exempt $250k from capital gains. I could get married and file jointly and the exemption would be $500k which is enou...
We have 2 W2s( Me+ Spouse).Have a primary residence SFH and 2 rentals.I have around $40K of rental income after all the deductions/depreciation.This time I used a CPA and I am a sure he tried his best to get all deduc...
Would love some thoughts and help with my situation,
My wife and I make decent W2 income as our main source of money but we have two properties. 1 that is a rental, I have a property management company handling it,...
Hello! I am considering co-purchasing a home with my mother and want to know if the current inheritance property tax law that was voted in this year in California (saying if you inherit property, you inherit the prope...