Ricky B.
Asking for help regarding 1031/121 Exchange
Here is my scenario:- I sell my duplex which I owned for 7 years - I lived in the 2/3 portion and use the remaining 1/3 for rental all 7 years- Selling price 1 mil.- Am I correct that I can 1031 the 1/3 rental portion...
Manny Rivero
Tax Advantages to being an owner occupant in a duplex
Hey everyone, I'm assisting a friend in the purchase of a duplex. He wants to live in one side and rent out the other to help with the monthly housing expense. What are the tax advantages of being an owner occupant in...
Sam T.
Tax benefits of renting half of my primary residence
If I were to buy a 2 bed condo to live in and rent out the other room, would I get the tax benefits of it being a rental? Specifically, would I get to claim depreciation, write off the HOA fee, etc.?
Patricia Galea
Can I 1031 exchange a duplex if I live in 1 unit (my tenant lives in the other)?
I built an ADU in LA and live in the front house. The former garage is now a single apartment and has been rented out to my tenant since 2021. the ADU is legal - was built with all the permits and has a CoO - and has...
Henley H.
Able to live in a new 1031 property?
I have a single property with two homes on it- I live in one and the other has consistently been rented for the past 6 years. Their have been occasions when both houses were rented and I did not live in either. If I ...
Jake Wa
So any idea what these new Trump taxes are going to do?
Hi guys,So I live in NJ and apparently people are rushing to prepay some taxes. I share a rental property with a friend and we're at a loss as to what we should do here. Any advice?Thanks
Jason V.
Section 121 gains exclusion reported on what IRS forms if home was rental for 2 yrs??
It's my understanding that if there's a "partial exclusion", I'd use a Form 8949 with Code H...And if it's "fully excluded" and there's no 1099-S issued (which I indeed received no 1099-S), then I'd simply not mention...
Rory Compton
Seller Financing and Taxes for the Seller
I’m curious how the taxes work for the seller. If they are owner occupiers then they won’t have capital gains anyways. So in that case it is really just the income stream they can maintain.
But, if they are tired lan...
Brandon Sturgill
Section 8 and Income Requirements
How do you address perspective tenants with a voucher that covers rent, but don't meet the income requirement for the property...in this scenario the rent is $1,200/mo. and the voucher is for $1,050. The individual ma...
Jeffery Drayton
Section 8 late rent fees
I have selected a section tenant to live in my SFH in illinois “not Chicago”. I will be receiving $1362 total a month. The tenant is responsible for paying $414 & section will pay the remaining $948.My question is...