Arianne L.
International lending - tax and legal implications
Hello BP community! I have relatives who have expressed interest in becoming private lenders for our real estate business. The complicated thing is, they are based in different countries. Australia, New Zealand, Saudi...
Rob Grove
Background check/market rent/tax implications
Ill try to make a long story short. I inherited my dad's place I sold him two years ago. Owes 88k still. Listed it for 94900 and got an accepted offer. I have a will but the title company says it needs to go through p...
Calvin Kwon
Cost Sharing an Apartment (Tax Implications?)
I have a spare room in a 2BD/2BA apartment. I rent the apartment unit and I am looking to rent out the extra room. I was going to use the two rooms for myself, but decided to rent out the spare room. What are the tax ...
Wei Xie
Tax reform's implication on mortgage interest
I noticed today's WSJ article on the Senate's bill includes a comment"Debt-reliant businesses would lose, too, under a provision that limits interest deductions to 30% of income."The original link is https://www.wsj.c...
Jason Patidar
Rental Property Renovation and Tax Implications
Keep getting conflicting advice. Here is the situation. Bought a single family home in 2016. Bought it as an investment property with the intent to fix up and rent. Renovation took longer than expected (don't they...
Tom Patel
Tax Implication for Sale of Condo
Need clarification about sale of Condo for tax implication. The law says if you owned and lived in the place for two of the five years before the sale, then up to $250,000 of profit is tax-free. If you are married and...
Kevin Duke
Tax implications on a home sale
Here's a situation I've come across. How would you handle this?
- A married couple owns a home on Long Island, NY. They haven't lived together for 20 years- He is an out of state resident residing in Massachusetts,...
David R.
Tax Implications after adding 3 units.
Hello everyone. Looking for a little guidance on my property in Los Angeles.My long time CPA has passed away and we are looking for some guidance. We finished construction of 3 additional units on a property with a du...
Wyatt A Brady
Balancing tax implications with potential income
Hey guys-Im still new to posting on BP, hope no one minds if I share some personal numbers, but I could really use some calmer heads on this before I go crazy.I was all set to start visiting a property, and I started ...
Frank Visaggio
House hacking primary residence tax implications
We bought a rambler where we got a permit to build a 2nd kitchen on the first floor/basement.
We are plant to rent it to a family member for a below market rate but even if we rented it for a market rate the rent ...