Melanie Baldridge
If you want to be a real estate pro, you need to understand the TERMS:
Here are a few definitions that you absolutely must know.
Bookmark this thread and use it as your cheat sheet for 2024.
Okay, let’s dive in:
Here are the terms that I’ll define in this thread:
-DEPRECIATION
-BO...
William C.
Tax Question: Are Seller Title Insurance Costs Tax Deductible?
I am potentially selling an investment property in Florida. The county the home is located in is negotiable on who pays for the title search and insurance costs. Some realtors have stated it is a county where the "sel...
Doreen M ODonovan
Warning: Turbo Tax Bug
I am using Turbo Tax Home & Business and found a bug that is verified by other users on the forum. It is not entering home interest on schedule A unless you go to the Tax & Int Wks form and check "No" for the ...
Devon Shaw
The Type of Insurance You Need as a Landlord
Insurance.I get it.Real estate is filled with lots of exciting stuff, but insurance generally isn’t considered one of them. Insurance ranks right up there with property taxes... just another expense to throw on the pi...
Chetan Vihite
Buying vehicle under LLC section 179
Hello Fellow investors, newbie question here. I am planning to purchase a vehicle that weights over 6k, my question is:do I have to buy it under my llc to take advantage of section 179? or I can buy in my personal nam...
David Balogun
Are rehab cost tax deductible for the LLC im using?
I wanted to know do rehabbers get to write off all the expenses for a property? Does it matter if it's a fix and hold as oppose to fix and flip?
Joshua Myers
IRA Withdrawal and Cost Segregation Question
Alright, I have a question that I can't find information on anywhere. What better place than BiggerPockets to find an answer. So here goes!For 2022 my taxable income is going to be just under 240k which includes; 90k ...
Nathan H.
Complicated Capital Loss/Gain Question for all of the tax wizzes on here
Hello BP!I'm trying to file 2022 (I know, I'm late) and I have a question on flexibility in deciding when I can use capital losses. I want to take advantage of the 0% LTCG rate up to 90k-ish MFJ + standard deduction, ...
Rodney Wright
Taxes for a soon to be own property
I'm purchasing my first property in a few days. The process has been long and tedious. It started in 2018 visiting a property out of state. Can I claim the mileage, hotel stays and meals from 2018 eventhough the p...
Puja Devi
Tax strategies on first rental property
Hi all - wanted your input on the following. I closed on my first OOS rental property 12/31/2021 (signed paperwork with notary) but the funds didn't settle until the new year. So on the CD, closing date is still 12/31...