Chris C.
Tax Write-off for rented room
Hi All, I recently rented out a room in my house for 3 months. What all can I write off?Also, he ended up not mowing the lawn (which he was supposed to), and the city came out and did it. I did have my friend mow th...
Derone Patterson
Taxes & rental income
Just purchased a duplex as an owner occupier with me living in the basement and renting out the top two floors. Just got my taxes done and I'm confused on how I go about getting my rental income reported to the IRS
Michael Ndjondo makadi
Can trip expenses to go buy a first house be tax deductible?
Good evening to all.I am just getting started in my RE investment journey and after long thoughts I have finally decided to invest in Wichita, KS even if I live in San Diego. I have lived there for a couple of years a...
Nick Clayville
Capital Gains Tax and HELOC
I am looking to sell a rental property and have a mortgage and a HELOC (Home Equity Line of Credit) against it currently. If I were to sell is the profit (taxable amount) considered the sale price minus mortgage + HEL...
Jason Merchey
Taxation of Cash Flow/Equity Gain in MF Syndications
How are 1) cash flows and 2) any equity gains upon disposition treated in multifamily syndications? I've never been through one round-trip.My understanding is this: the cash flow distributions are not taxed because of...
Malachi P.
Feedback on Rental Listing
I listed my first rental unit in July or August and received hundreds of inquiries within the first few days, about 20 applications by the first week, and I got a signer 2 weeks in. Unfortunately, we then had an issue...
Clay W.
Determining Property Cost versus Land Basis
Would appreciate clarification on best determining my dwelling versus land value for depreciation:- Purchased first duplex - Early April 2018 - $369,000 - California- New Tax Assessment received assumes $143,541...
Eric Doud
sale of rental turned primary residence
My parents built a house in the late 80s in the San Diego area and rented the house for 15 years. Then in 2002 they remodeled the house and made it there primary residence and lived there for 10 years. At that time th...
Mark Forest
Other deductions
Where do you all put deductions that cannot be attributed to any specific house? Things like inspections for houses you did not buy, periodicals about real estate, tax prep, education seminars and classes for real es...
Adinata Thayib
Roth 401(k) to Roth IRA roll over
Hi!I have tens of thousand in my company's 401(k) Roth, and I plan to move to another company this year. I just recently knew that Roth IRA has much more benefits:- Withdraw the principal anytime tax-free- Withdraw th...