Greetings BP'ers...As part of a 1031 exchange, I have purchased a handful of short term rental properties in the last few mos.  I have about 1 week left on my initial 45 day period to put properties under contract to ...

I have never purchased a home before so I am wondering if the conventional mortgage preapproval process is similar to an IRS audit. For the preapproval, what if bank statements and tax returns don't match? Do they che...

Hey, just checking in with my fellow real estate investors! If your Accountant has not done an Engineering-based Cost Segregation study on your investment property rentals, you may want to look into having one done. I...

Has anyone used a service like diycostseg.com? This is a much more affordable option for doing a cost seg study, but it seems to use a lot of assumptions. I'm curious if it actually works and if it holds up against fu...

Hello Bigger Pockets Community! I want some varying opinions about the tax deduction for services work completed on a rental property of mine. I had some subcontractor work for a rental of mine and failed to send a 10...

I'd like to know if anyone (especially any EA or CPA) might have experience here.  I'm finding that property managers are good about sending invoices detailing expenses and revenue for the property.  However, for serv...

hello, im doing my research on the 1031 exchange...

my #'s: i purchased a 3 family for $215K and owe $209K...i put $30K into it and have it under agreement for $300K

when the atty sets up the 1031 and we close on th...

More tax news out of Washington. The administration announced doubling the size of the IRS over ten years. This reverses the trend during the last administration of reducing IRS staff and scaling back the number of au...

Carl Fischer had reminded me of an article I wrote two years ago.  The gist:  Wholesale deals in retirement accounts will get crushed by the IRS once they get around to auditing them.The Mazzei Roth IRA Case – An End ...

After 3 years, IRS has figured out that I owe they some money. They send me a tax bill claiming that I owe them $500 from 3 years ago. IRS is claiming that I made and didn't declare capital gains in 2010.

I a...