Kyle Spiewak
Health Care Tax on Rental Income
Read this today and thought it was interesting and worth sharing. It is from the Journal of Accountancy. If I am reading it right it is saying that there we will a 3.8% tax on rental income. Please give your feed b...
Joseph Barbaretta
Early tax question -- Do I deduct my expenses if...
So, I'm in the middle of flipping a house. Its taking longer to get it on market than I'd like. It probably won't close until after the new year. So, if all my expenses happen this year and I sell the house next ye...
Kairaba Burson
capital gains tax!!
im new and learning the ropes. i see a lot of people rehabbing and prefer it. are they getting hit with capital gains taxes or is there a way to lesson the impact of them? in a 15% bracket do you just get use to ex: 2...
Account Closed
Taxing a flip as a rental by leasing the unit prior to sell?
At what point is it determined, in the eyes of the IRS, how to tax a flip? For example, if we buy a property with or without the intent of renting it out, and after rehab we place a tenant in the unit, can we sell it ...
Desiree L.
STR Loophole- Huge return for me
I have to give a shout out to Bigger Pockets! I am a regular listener to the Bigger Pockets podcasts when I am doing chores around my house and my STR property. A few months ago, I was listening to a podcast (I thin...
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...
Amol Kulkarni
Property Management, Passive Activity Loss Limitation and Depreciation
Hi all,I've been reading about the Passive Activity rules that prevent passive losses (eg Depreciation) from being offset against ordinary income. Unless of course, the taxpayer shows material involvement and claims t...
Marcus Kennedy
Should I rent or sell?
Hey Biggerpocket experts....I was hoping you all could give me a little advice as to what you would do in my situation. I'll try and fill you in as much as I can and then you can either answer or ask more questions to...
Rich Weese
3.8% tax on future real estate sales!!!!
There is a provision for a 3.8% tax on real estate sold beginning in a couple years as part of health care bill! I did try to verify with snopes. It was confusing and only discussed in terms of owner occupied sale. Di...
Chad Dickenson
Am I Missing Anything?
Hi BP Family!
We are close to purchasing a Fix N' Flip property with the numbers below. The "All-In Cost" works well with our ARV but I am wanting to make sure I am not missing anything that could make the costs go u...