Cheryl C.
Is there an IRS Form for aggregrating RE Professional activities?
Is there a specific IRS Form or place on a form where you elect to "aggregate" RE Professional activities? I have about 20 properties and want them aggregated as one activity for the purpose of meeting RE Professiona...
Ron Brady
Capital gains tax on LLC-owned inherited properties?
My wife and I understand that we could give our home to an adult child when we pass away and that our adult child would pay no capital gains taxes on it.
But, we have multiple rental properties owned by our LLC and w...
Henry Camacho
LLC as an S Corp.
Hello BP Community
I have a question and hope to get as many answers and opinions as possible.
Has anyone registered an LLC but elected to be treated as an S corporation? I have read about this in many sites and a...
Buddy Holmes
Combining Rentals for IRS Professional Standing
I understand from other discussions here on BP, that the IRS may have very stringent requirements for REI's claiming Professional Status to enable RE losses in excess of $25,000 per year against non passive income.One...
Timothy W.
Armed Black Panthers at Polling Places
Surprise.....Black Panthers standing in front of polling places and armed with a night stick - and here it is on video.
http://www.foxnews.com/video/index.html?playerId...
Henry Camacho
LLC as an S Corp
Hello BP Community
I have a question and hope to get as many answers and opinions as possible.
Has anyone registered an LLC but elected to be treated as an S corporation? I have read about this in many sites and a...
Lance Lvovsky
Ultimate Guide on Opportunity Zone Tax Incentives!
Last Friday, the Treasury released their Proposed Regulations [REG-115420-18] on Opportunity Zones - possibly the best tax shelter created, ever! At Marcum, we are hard at work putting together insights as we peruse t...
Manny Vasquez
Are YOU on the fence about buying? Read this!
If you are sitting on the "fence" waiting to purchase a property because you don't know which candidate will get elected or which "political party" will be more favorable to your purchasing decision, consider the grap...
Cam Jimmy
BRRRR Tax question - Stepping up basis
When you complete a BRRRR, can you elect to have all of your expenses of the renovations be added to the basis of the house?For example - you buy a house for $100,000, and put $50,000 into it (Including repairs, maint...
Maris Sacornvasi
Real Estate Professional Status - Partnership LLC
Hello BP,
I would like to hear a second opinion here regarding Real Estate Professional Status (REPS).
Background: I have a full time W2 job. My wife does not work. My wife and I formed a partnership LLC back in 201...