I bought a property in 2015 and sold it as is with no improvements, no repairs, or depreciation charge taken. What are the tax implications with the sale? I'm probably going to get hit with a short term capital gains ...

Introduction and background on questions:

Currently we are a 2 man operation that is a 50/50 partnership. We will not have any additional partners in the future and we are not interested in selling part ownership of...

Hi,My wife and I have been working on a plan to turn investment properties into assisted living homes in Colorado. She has been in this type of industry for a while as well as knows people that have turned properties ...

I'm looking for some advise on purchasing private health insurance. I am currently working for a company but am going to venture out on my own to do more real estate. Can anyone recommend any good health insurance pro...

Hi All,My CPA is advising that I have my LLC be taxed as an SCorp because I'm an active participant in my fix and flips.  To clarify, I have a multiple member LLC (me and my husband).  In that LLC, I make some private...

Don´t know if this the correct forum here, but I want to know how high can I get a tax depreciation for this year (2010) when I buy an house this month for only $5k for a fix and flip in May 2011?
Thanks.

-Uwe

I searched for detailed information regarding this before posting, but was hoping for some more distinct answers. I have 8 units right now in Kansas under one LLC and have a W-2 job. I also have several friends (some ...

Hello,

Im closing on a property today that I intend to flip for a profit. I bought the house via forclosure for $115k, will put about $20k into it and will list it for $225k. Im curious what is the best way to approa...

Hello all,I am currently searching for my first multi-family investment property. I've been using the basic Google mortgage calculator, but I want to know if there are any other tools I can use to get a more detailed ...

It's my understanding from reading here on BP that flipping is taxed as income, not capital gains; as such, would the money from a flip I bought and started last year but which is still owned count as a loss for la...