Hi
I own and lived in my principal residence for over 20 years and a significant capital gains.
1 If I sell my principal residence I pay no tax on the first $250k of capital gains (filing single), but if I have ad...

When you write up your profit and loss statement, how do you break down the mortgage? Is the interest, taxes and interest the only loss? I'm assuming principal is not written in the loss category even though it goes a...

I was looking over the schedule C form, and I dont quite see how one claims the 20% pass through, QBI.  Any of you tax experts out there have guidance? @Brandon Hall @Natalie Kolodij

I own outright a SFR that appraised for $250,000. I want to purchase a house listed at $230,000 (to become my primary residence). Would there be negative tax implications to offer a property swap in this situation ass...

Unfortunately, the tax code can be a burden for those who don’t understand it. But the good news is that if you find a great CPA to work with, they can utilize tax optimization strategies that help save you money. Ins...

Hoping you can help me. An investor (LLC - three members) bought some farmland behind us for twice the value of the surrounding land. No structures are located on the property - just "abandoned farmland" according t...

My husband and I own rental property together, we are both on the deed. My husband qualifies as a real estate professional for tax purposes. We want to use that to offset my income, as I am the higher earner (I have a...

Selling an investment property can result in significant capital gains taxes. To minimize this tax burden, consider the following strategies:1. Utilize a 1031 Exchange: Under IRS Code Section 1031, you can defer capit...

Let’s say the roof on your rental property gets damaged from a storm and you claim a casualty loss. At the end of the year, you have a net operating loss after depreciation and operating expenses. Can the causality lo...

Good day experts. I am trying to understand the tax laws and determine my tax liability for  rental property that I have sold. The uniqueness of this transaction is in the fact that the property suffered a fire, and I...