Kyle Nacci
How does the 2 out of 5 year rule work when 1 co-owner has been living in the house?
My ex-wife and I co-own a duplex in Providence. We're both on the deed but just I am on the mortgage. I haven't lived in the house since we separated at the beginning of 2022, and she has continued living in it, manag...
Elex Price
Tax on Sale of Primary Home?
I close on the sale on my Primary Residence this week. My question is will I be tax on the sale and if so what's the rate? I lived at this residence for about 4 year. I did some research and came across Topic 701 on I...
Josiah Collins
Home Office Deduction
Hello BP!I tried searching old posts on this topic and couldn't find a question similar enough to mine. I currently own one rental unit that I manage myself and I'm wondering if I should be able to do a home office de...
Jered Sturm
Tricky Tax question on sale of primary residence.
So I will begin by saying I have already spoke with my CPA regarding this. I am here for second opinions from other wise investors and CPAs. I purchased a home 9 months ago to live in with my wife. Shortly after I bou...
David Beadles
What to do with Primary Residence?
Hi everyone,Our purchase offer was accepted for a new primary residence and we need to decide what to do with our current 4BR/3BA home. We did some remodeling and are sitting on at least $200k of gain if we sold today...
Beau Blinder
First Time Using Rental Agents in Boston as a Landlord
Hey guys,I've been wrapping up the work my place needed and have been testing the waters with getting it rented. Thus far, I've been posting on craigslist, but quickly found that my time was being wasted by a lot of t...
Jacob G.
Dod frank regarding second mortgages
If i give a second mortgage on a property to a home-owner, Do I have to comply with Dod Frank just like the guy who gave the first mortgage?
Gloria Dulan-Wilson
DEALING WITH REALTORS AND FINANCIAL QUALIFICATIONS
I recently signed up as a PRO - ll/2/16 - And have been identifying properties that I want to BRRRR - BUY, REHAB, RENT, REFI AND REPEAT - Per Brandon Turner's formula. So far my sources have been via the MLS - but I ...
Anthony Angotti
1997 Taxpayer Relief Act
Hello,
I have a question about the sale of a property and the principal residence exclusion principle of the TaxpayerRelief Act of 1997. How does this apply to someone living in a four unit or less property and has b...
Jon Klaus
Home sale tax exclusion
When selling a primary residence that conforms to the rules of the home sale tax exclusion, does simple subdivision work?
The home is on a small acreage, say 3 acres. Owner completes a simple sub-division into thre...