Marcia Langley
Inherited IRA - new tax law
Does anyone have knowledge or experience with this? is one way to handle it to w/d 1/10 per year...?...if 1 cannot predict one's income and tax brackets? and when one pulls it out, then best tp put in roth ira? or sel...
Tyler Jahnke
Well, That FLIPPING sucks! Taxes and expenses?!
Hello BiggerPockets!A few things:1. I have no experience flipping a home, but see myself doing it within a couple years.2. I'm always looking to soak up as much knowledge as possible.SO...You found a property, you fix...
Will B.
Taxation of Unrecaptured Section 1250 Gains
Hello!Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciatio...
George P.
Help me understand ... primary converted to rental, sale
Originally purchased as Primary residence for 160k; lived in it for 7 years w/o making any improvements.2011 - property converted to rental property. FMV at the time is 210k.2017 - sale of rental for 220k. Cost of sal...
N/A N/A
Capital Gains
I have been doing my research for the past few months and I have been trying to investigate all aspects of "the flip." One question I have is- How much do most of you generally pay, percentage-wise on captial gains. I...
Jerome Ramirez Guerrero
Is your monthly rent income tax at the federal level ?
Hello everyone,
For those of you already in the game and receiving monthly Payment(s) from your property(ies) What is the tax percentage on that cash flow?
Thank you!
Azita S.
Early 401K Cash out
Is cashing out a 401K to invest in RE a terrible idea?According to an online early cash out calculator, I'd be paying a hefty fine and taxes on the balance, receiving less than half the current balance. I've been con...
Marshall Secord
Taxes involved when flipping property
Hi BP, I quit my full time job and closed on a property a couple months ago in Philly. I’m doing most of the renovations myself and I’m starting to sift through the potential taxes incurred once I sell. I’m a bit conf...
Lane Kawaoka
Capitol gains on sale
1) I bought a home in 9/2009 and lived in it for one year. Then I rented it out until current. If I sold it today and made a 100k profit/gain do I pay 80k of the taxes on the gain? If I move back in for 1 more ye...
Tyson Hosey
Withholding Taxes When Using Rental Income
I know this topic has been covered in the forums a few times over, but I can't find the posts on it and I'm really concerned about this, so I'm going to start a new thread.I've done all the calculations for setting as...