Brian Dudash
How to estimate income tax for rentals?
Does anyone have any good resources, tips, or ideas on how to roughly calculate/estimate income tax on rental properties?I'm in the process of hopefully buying a rental very soon and while I have everything estimated ...
Scott Hurst
recapture of depreciation in an IRA
I've been told that the IRS requires you to depreciate a residential rental even if it is in an IRA but you do not get to take the deduction. And, I'm told that you recapture the depreciation at 25% when you sell the ...
Isaac Isaacson
1031 Experts - What is Boot and what isn't? Appraisals, Inspection, Surveys, Insurance, RE Tax, Etc?
In the middle of my first 1031. Of course my 1031 exchanger referred to their attorneys when I asked these questions. Yes, I will of course ask my tax professional as well. I am just curious to hear what other 1031...
Richard Haug
Shifting into self directed Roth IRA
HelloI just thought of a possible way to shift funds out of my 403b retirement fund and wondering if it's valid.I work for a university and have a 403b. Recently reached the age of 59 1/2 so I can take funds out witho...
Sean Wilt
Do I pay Sales and Occupancy Tax on cleaning fees?
I know I will have gross revenue from rentals for income tax purposes which would include cleaning fees collected. For income tax purposes, I know I can deduct the actual cleaning costs so that portion of revenue bec...
Lane Kawaoka
Cosh out Refi Strategy for 1031 exchange
I have a 450k property that has 150k of equity after sales commissions. I want to use this to buy 2-4 rentals at 70k a piece. Could I buy 2 rentals cash (140k total) with a 1031 exchange and then doing a cash out...
Patrick Thomas Mc Manus
What tax percentage should I factor into my equation?
Good morning dear BP members,
I am analyzing the below rental property deal in Florida:
Purchase Price : $ 50,000 (including closing, cleanup & rehab costs)
Amount Invested : $ 10,0...
Bob E.
My Experience with UBIT in my SDIRA
People talk about UBIT like a kid talks about a big scary monster under the bed. Here is my experience as something to reference. Ready..., Fire..., Aim...I keept hearing about UBIT at seminars "Be careful, you co...
Wilder Fuentes
It's time to put this topic to rest!
Howdy BP Community,This question has been circling in my mind, and it's time to get answers.I recently read an article in a professional publication for realtors that indicated that when one sells a secondary home, th...
Account Closed
cash flow tax free?
i have a simple question about cash flow from rental properties and taxes. is cash flow considered income? Will i have to claim my cash flow as income and be taxed on it? 'm just a little confused about this.