Henrietta Lee
Tax pre-payment for rental sold
Hi, I sold a rental property that was rented for 16 years in CA this year. The net capital gain was $480,000. Depreciation taken was $100,000. Escrow already withheld CA State tax. I'm retired in FL with $25,000 socia...
Shawn Melvin
Capital Gains on sale of property in Texas 2015
Selling my investment property and looking at a profit of around $300k, wanting to re invest in SFR but what kind of taxes would I be looking at(depending on income bracket) and any ways to avoid?
Brad Rondeau
Tax on my rental when I sell
Hello, My property is in Laguna Niguel CA. I purchased a 3 bdrm condo for $365,000 in Dec 2009 with 20% down. I now have a 4% loan but pay $280 in HOA fees monthly. I did about $16,000 in improvements - paint, carpet,...
Jose Contreras
Partnerships in flips
Hello everyoneI would love to get an opinion on our situation from everyone. My wife and I buy and hold long term properties. So far rents are great and we would like to purchase more properties, however we are limite...
Mark Stone
Eventual loss of depreciation and mortgage interest
Hey Everyone,I was brainstorming about shielding rental income from taxes and had a few questions. Thanks in advance for any help you can provide.Last year I bought a triplex with little money down, and took out an ow...
Salvador Mariscal
Rent property long term or sell for small profit?
Hello everyone,
I'm new to real estate and recently purchased my first property in Coachella, CA for 335K with the intention of renting it out long term. After investing an additional 50K on upgrades, the house was a...
Martin Andersson
Depreciation calculation after 1031-exchange
In 2016 I did a 1031 exchange and I'm trying to figure out the depreciation for the replacement property.This is the information I found when doing some research:http://www.1031.us/PDF/Depreciationof1031.pdfLet’s say ...
Daniel James
Colorado DR 1083
Hey guys,I am a new AZ resident selling a property in Colorado that qualifies for section 121 exclusion of the IRS code. The property was our primary residence from March 2010 to June of 2013. After that date, it was ...
Sachin Amin
Tax benefits from Qualified opportunity zones
Hello tax expertsAny recommendations on how to avail tax benefits on capital gains, was researching and found out QOZs (qualified opportunity zones) there is a new tax law which allows capital gains to be invested in ...
Kevin D Key
Cash out Refinance of Rental Property to give to Son
I am a retired 63-year-old military veteran considering giving a rental property to my only son, a 22-year-old senior in college. The rental home in San Antonio, TX is completely paid for and has a market value of abo...