Account Closed
Taxes on exchange properties sold at a loss?
What happens when you 1031 exchange into a property, and then that property is sold at a loss? Does the IRS try to recover the taxes that would have been collected if the exchange had not occured?
Marlie Evans
Bonus Depreciation, safe harbors and Partial asset disposition
Now using the de minimis/routine maintenance safe harbors instead of bonus depreciation for appliances, carpet and the like. I don't understand why my taxes go up a few bucks when I change move an item (a kitchen appl...
Lori Nebel
60 years old with a lot of equity in a few properties
I am 60 years old. I am looking for ways to use My equity to create a greater cash flow. I have 3 rental properties right now. Two of those and my own personal residence have quite a bit of equity and numb and I want ...
Account Closed
First rental, now what??
BP'ersFor my first post I have a very confusing yet exciting question for you guys. I have just secured my first rental property. By just, I mean the last 5 months. I'm breaking even on the bills (mostly because I am ...
Paul Stern
How to handle rebate for an asset received a year later
I had a new hvac system installed in 2014. I depreciated a portion of the asset according to MACRS. Now, in 2015 I received a rebate for the HVAC system. Any thoughts on how to handle this in my books and tax wise? Th...
Mark Berardi
Can I use accelerated depreciation on 1 property to offset capital gains on another
In 2022, I sold a multi-unit property in TN. Also in 2022, I bought a rental property in Ohio. Can I use accelerated depreciation on the new Ohio property to offset the capital gains on the sale of the TN property?
Ashvin Dewan
Commercial loan refinancing with cash out
Hello all. I am relatively new here, but thought i'd give this a try. I have searched the forums and could not find the answer to my question directly...Basically I wanted to investigate the feasibility of a commercia...
Stephen Kupferschmid
Depreciation vs. Deduction. Did I miss out?
In December 2017, I purchased what I wanted to be my first rental property. Bought and paid for it with $30k. I have done all of the repairs myself, and intended on having it available for rent in the summer of 2018...
Mike Mampieri
RE Professional Qualification Question
Good morning,I am new to RE investing, an made an uneducated decision trying to offset some income taxes. My CPA informed me that my AGI exceeds the $100/150k threshold to have pass through passive income losses offse...
Vincent Harper
Lending for business owners?
I started a business as soon as I got out of college 3 years ago. Year 1 we took a loss. Year 2 we broke even. Year 3 we did very well netting over 40k According to my tax returns my business hasn’t been the most prof...