Daniel Judge
Running into tax issue stemming from budding partnership
I was recently approached by a fellow investor who is looking to partner on a deal where he puts in all the money and I earn equity and cash flow by putting in sweat equity (running the property as a short term rental...
Peggy Beauregard
Depreciation to some partners & not to others in same property.
A syndicator has told me they can give a better return to IRA investors as they don't need depreciation and her accountant does this type K-1 schedule. This would mean the people investing from their personal savings ...
Patrick Shep
Land Value for Depreciation
if you’re figuring out the land value for depreciation purposes, can I use the Fair market value for the land? The county assessment taxes it at 59k which is WAY too high. A plot of land has sold for $8500, $10k and 2...
Julio Gonzalez
What is Considered a Quality Cost Segregation Study?
As most of you know, as part of the IRA, the IRS was allocated significant funds to hire new employees. With that comes an increased audit risk. One of the things that IRS auditors look for when auditing a cost segreg...
Gaurav Mehta
Property Tax deduction on investment property
Had a question about deduction of property taxes on investment property.So the limit of property tax deduction on personal home is $10K.Is the deduction of property tax on investment property counted separate?Meaning,...
Eric Yu
Used HELOC from Main house to buy first rental property.
Hello BP community!I recently used HELOC from my residence to purchase a rental house. Seller accept offer at 10/20, but it looks closing date will after 1/1/2019. Obviously, HELOC interest start from Nov., there are...
Jack Bradham
Sell a Condo purchase home Rental unit & Primary Residence
Here is the deal, I am selling a unit I have had for 20 years and lets say it goes for 350k. I have a property I would like to buy for 610k that has a single family home and a rental unit in the back. The rental unit ...
LEONID ORLOV
Tax strategy for multiple properties owner ..
I own 6 multi-family properties (3-4 units each) all are positive cash flow, I am wondering what is the better approach ?
1. To allocate income/expense to each property on Sch E (as I have done so far) or
2. To decla...
April A.
1031 Exchange
The time is finally here. I am ready to sell my primary residence, a duplex and purchase 5 or more units. I am considering doing a 1031 Exchange but I was wondering if all of my equity has to be used towards the new p...
Larry Hucks
Question on 1031 exchange
Hello BP familyI am currently putting an investment property on the market with the idea of doing a 1031 exchange. I would like to by an SFR and "house hack" - live in one room and rent out the others. But, I was read...