Daniel Miller
Questions about trust conversion (on death of trustor)
I am beneficiary on my father's living trust. We are in California.He just passed away today, so I'm beginning the process of transferring assets from his trust to my accounts (which is what the trust says I should d...
Catherine Ashley
tax we have to pay for outside state rental invest
We are looking for outside state investment , does anyone know what we have to pay for the tax if it is outside state invest for Orange County CA?
Kevin Burns
Changing the legal description of a property
I saw a duplex that I'm interested in. What I want to do is change the legal description of the property to condo or single family so I can do a lease option on both sides of the property. Does anyone have any knowled...
Christina Jordan
Unpermitted changes in an office condo
We are under contract to purchase an office suite and after reviewing the as built layout drawings the building department has on file, we see that there have been some significant changes done that don't appear to ha...
Shain Cannon
"original purchase date"
Using turbo tax, first time filing SFR. Its asking for the original purchase price and date. I have refinanced the property 2 time. Do I use the actual initial purchase date and price, or just the most current mortgag...
Michael Turner
STR Material participation requirements for married filling jointly
New to the forums, and I haven't been able to find the answer to this question yet (I apologize if its been answered already). My wife and I own a STR property via an LLC in which we are the sole owners. The LLC is in...
Roman Rytov
1031 with three properties and two owners
Never did 1031 but based on what I read it may not be an option for my situation. I owe two duplexes in my name and my wife another one. Can we sell the three on 1031 and exchange it for a single larger property? Prob...
Timothy Fortin
Bonus Depreciation For STR Question
I really need some help understanding the bonus depreciation tax laws. I have an STR that was placed into service in 2022. Being a unwise, junior investor, I just claimed straight line depreciation for 2022 and 2023...
David Humphrey
Tricky Question about Bankruptcy Discharge on Property
Hello Everyone!I am seeking some advice from the collective knowledge of BiggerPockets!Here's the situation. I found a commercial property that I want. Amazing deal. I spoke to the owner directly today. He used th...
John Malone
Are you aware of the new Corporate Transparency Act Coming in 2024 (every LLC)
What's all the Hype with the new law? Well this will apply to your RE LLCs…
A new law was passed back in 2020 which has not been on the radar for most business owners. Let's start with the fact that the U.S. Treasury...