I suppose I could ask my cpa but Ill see what you guys think on this first so he doesnt bill me for consultation fees...situation: my partner and I wish to finance a property. due to the deplorable lending market, its...
I am purchasing duplex with Annual Property Tax $600 higher than a similar duplex in the same area. The houses have the same SEV and same taxable value (Info from MLS list). Other houses with the same taxable value al...
Hello. My wife and I are physicians that like in CT and work in NY. We plan on purchasing our first out of state LTR. I am enrolled in Public Service Loan Forgiveness (PSLF) program and need to pay 10% of my taxable i...
I’m considering buying an STR property with a land contract (also known as an executory contract or contract for deed) with 0% interest payments … meaning each payment would be pure principal pay down. No interest exp...
Can I deduct passive RE losses from nonbusiness income?? I was not aware of this. Is this true??? See section in bold/underlined belowBelow is an article from the Washington PostTax change in coronavirus package ove...
I keep hearing/reading about people that are not paying taxes on their rental income because they can offset it with deductions. I can't come up with enough to cover the income. What am I missing. I am deducting:
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Hello everyone, my name is Kyle and I've recently decided to begin investing in real estate. After finding myself on BiggerPockets almost daily reading through posts, I've decided to join!Long-story short, I've create...
Hoping someone with syndication and tax knowledge can answer my question. My first LP multi-family syndication deal sold for a profit in 2022. When I sum up the tax losses claimed during the first 2 years of the deal ...
Hello fellow posters. I have an unplanned capital gain over several decades due to a property interest I inherited. I also have the opportunity to be assigned a debt owed to a professional services company. It is like...
As we go into 2019, figured I'd share a tax related planning tip that I personally feel will be important for business owners and RE professionals moving forward. For complete details, please reach out to a tax prof...