Chris C.
1031 exchange residential land to investment property
I purchased a piece of residential land on 2021-01-27 to build on and eventually be a rental property. I'd like to sell it and purchase a built property and have that be the rental property. I will sell the land for m...
Account Closed
Loss carry-forward and Household income
Hi everyone,I'm doing some excel modeling to analyse properties and I have a couple of questions regarding losses carried-forward. Until today, I thought that a passive tax loss for a given year could be "stored" to o...
Paul Rumolo
How much to put away for taxes
Hello all, I am a newbie and about to close on a couple of properties here within the next month. Had a question in regards to how much tax money should I be putting aside each month from my monthly net income. Any fe...
Margie Pierce
Tax rate for cash flow
I am someone who currently works on a W-2 basis and plans to transition to living off of my cash flow but in the next couple of years. I am interested to hear about peoples first hand experience with earning $100,000 ...
Andy Vasquez
Primary Turning Into Rental
Hi All,New to the game here. Really appreiate this community and everyone's never ending help.I have been living in my current home for 3 years. I am renting out starting June 24. Is it safe to assume that the loan in...
Dustin Beam
Pulling out initial down payment...taxed?
Hello beautiful people of BP,So, I'm no CPA, but it would seem that if I do not apply my original down payment on a property towards the new purchase, it would not be taxable as it wasn't actually a gain. So if I orig...
Austin Paulenske
Tax Write Off Questions
Hey guys,This will be the first year I am writing off an investment property on my taxes and I'm having a hard time determining what my Assessed Value Ratio % and my Marginal Tax Rate are for tax season this year. Is ...
Daniel Dietz
Does it ever make sense to go from ROTH to Traditional?
Hello All, I have been having good results with investing in buy-n-hold rentals using my ROTH SDIRA, SOLO401K and regular 'cash' investing. To me they each have their place when looking at goals; a combination of some...
Zechariah Moore
First rental/live in Quad potentially. Texas. What do ya'll think
Hi allCurrent Situation:29500-510k/assets (420k taxable brokerage - 55k roth - 14k hsa - 10k + liquid ish)75k annual incomeCurrent rent 1000+200 utilitesI've never taken an FHA or anything - I did sell my house over 2...
Peter K.
Must 1031 Like Kind Exchange = Sale Price or Greater to Qualify?
Using basic numbers, assuming I sell a property for $10M and after cost basis is accounted for and mortgage is paid off, I have a net taxable gain to me of $3M.I'd like to purchase a rental lake house property for $1M...