Suhaib Rehman
File amendment to claim passive activity loss in investment property being a Realtor
Good day Everyone,I am a professional in tech, my wife is a realtorI bought the house last year and incurred a net loss. When I filed taxes using turbo tax, I filed Schedule E but there was no form 8582 which is to d...
Christian Rojmar
Completed deal with some hickups along the way
That was a ride! Acquired a SFH in Overland Park, KS in July of this year and did a decent sized rehab – gutted interior, added HVAC, and added a bedroom. With COVID in full effect, much of the m...
Jamie K.
Things to take care of before closing on the first deal
Hey BP community! I am currently 2 weeks away from closing on my first sfh in Joliet,IL. Any recommendations on things that I could be taking care of in the mean time? I'm super excited to get started but I have some ...
Ken T.
Depreciation with Turnkey Properties
I was looking for a post on this topic but couldn't find one. I was informed recently by a real estate CPA that in order to depreciate (as a tax write-off) with turnkey properties that you need to demonstrate material...
Tim Smith
How do high wage earners benefit from real estate related tax deductions?
Longtime lurker, first post. Thanks to the BiggerPockets community for all the invaluable advice -- it's helped me personally and professionally for many years.
Here's my question: This year my wages at my non-real...
Andrew Angell
I have some questions about running STR as active vs. passive.
We are under contract on a property that we'll be operating as a STR and managing it ourselves.We have paper losses on our books from a syndication that generated bonus depreciation last year. We also have an S-corp ...
Meghan Riley
Buying home improvement materials in bulk??
Does anyone have a secret to buying materials?? We buy as we go...sometimes using the same materials for multiple projects! I am looking for a good online retailer, or advice on how to buy home improvement materials i...
Frank Peterson
SDIRA LLC House flipping
So as manager of the LLC am I allowed to hire the labor to rehab the property? (house). Or is that considered being the contractor? Also am I allowed to purchase building materials for the project with funds from the ...
Andrew B.
OOS Investing: Due Diligence with Rehab & Contractors
Hi BP! I'm a new BRRRR investor looking to get my system in order for an impending purchase. All steps of BRRRR are important, but I can see a mismanaged rehab making or breaking a deal. I am looking for advice on ...
Ilya Z.
How do I (re)negotiate prices with GC to exclude materials?
We're in the middle of our rehab project. The GC, who's doing some of the work with his crew and outsourcing the rest, gave us labor+material prices for individual parts of the project (roof, kitchen, baths, deck etc)...