Michael Zagorsky
Tax deductible expenses for Irma evac where I visited rental prop
About a month ago, we had to evacuate to visit family due to hurricane Irma. We have a rental property in the area that we inspected and did some work on while we were there too as a bonus to the trip. I wonder from...
Erik Nizenkoff
Tax Basis for deprecation, but some costs paid in 2nd year?
Hi, I purchased a commercial property at the end of December 2017. I wasn't billed for some of my lawyer's fees and inspection fees until 2018, around $20k. It is my understanding that I can add these to the basis ...
Justin Luedeke
Can I pay for Investment Club fees with SDIRA
In the process of setting up a Self-Directed IRA and wondered if anyone has used the proceeds from the account to pay for the annual costs of an investment club (i.e. Motley Fool, Oxford Club, etc)?Thanks!
Joseph Schommer
Tip a Real Estate Agent?
Hi BP! I have been working with a RE agent for the last 6 months trying to put an off market-deal that I found together. We got to the point of contracts being agreed to and we signed, but just before seller signed ...
Giovanni Cortes
HELP!!! I just found out that my 12 unit condo building has lien
Posted less than a minute ago
A 12 unit condo buidling i own has City of CS liens over $6,000,000, the liens are on the Hoa, not on the individual units. This is about 2x as much as the entire buidling is worth.
...
Robert Finn
Capital Gains/Loss from 2 different sales in the same year
Would anyone know of the tax implications from "Flipping" a new construction home for a profit, that just closed. Then selling a different rental property that you've owned for over two years, at a loss in the same ye...
Shant Kallibjian
IRS Tax Filing Question - Newbie Here
Hi FolksI have an IRS tax filing question. I purchased my first two rental properties in January 2021 and, am working with my tax preparer for the first time and rental schedules. Both properties are professionally ma...
Pierre Eade
Switch over to LLC or Personal Name - $4000
I have a duplex that I bought when I was first starting out that I purchased in my own name. Now I do everything in an LLC. I am going to refinance this property with cash out and have the option of putting it into an...
Anand Narayanan
1031 Exchange reimbursement of previously paid EMD/DD
Hello Experts - Hoping you can help me with this please. I have a 1031 exchange and identified 2 replacement properties. One of the properties I got into a contract with the builder prior to setting up the 1031 exchan...
Kathy Moser
Form LLC so I can write off upfront costs?
Hi All,I'm going to need to do a bunch of legal and inspection work prior to buying a multi home project. It could run up to $10,000. I was wondering if it makes sense to form an LLC now so that I can pay all these ...