John P.
New GOP Tax implications on Investment properties
I am in the process of closing on a Multifamily, 3 Unit residential unit in Chicago. The Bank is underwriting this as an investment property and the deed will be dropped into an LLC. Does anyone have clarity on how ...
Dan Robinson
Tax implications of moving property into LLC
So it's pretty clear (to me at least) that I should be moving properties titled in my name into an LLC based on the recently passed tax bill. They have been in my name for several years now. Are there an implications ...
Ted Klein
Tax Implications of a Tenant Requested Improvement
Awhile back I posted about a tenant I have that has requested to make a tenant requested improvememt to my property. Long story but to make it short, tenant has agreed to pay approximately $8400 to improve the shower ...
Jeff Betschart
Tax implication of selling a rental property
I am getting ready to sell a rental property and wanted to talk to someone to understand exactly what I will have to pay capital gains on and what is the approximate percentage that those gains would be. I also need t...
Joe Splitrock
Tax implications of only rental income (loss)
I currently have W2 income and rental property income. My rental properties, between expenses, depreciation and mortgage interest, amount to loss on my taxes. I am able to deduct that loss from my W2 income, since I a...
Carolyn Guertin
Query re implications of renting primary residence
I have some questions that I hope the BP community can answer for me. My elderly father has just moved into in a retirement home. He is weighing the pros and cons of selling versus renting out his home in the GTA. He ...
Rob Chang
Tax Implications for Renter Paying Full Year?
Hi, I am new to the Bigger Pockets forum and to REI. I am an "accidental landlord" and am renting out a townhouse that was my personal residence. I decided to become a landlord because my townhouse development is st...
Robert P.
Tax Implications of Free Weatherization of Home
Hi All,I am planning on moving forward with an organization called "Citizens for Citizens" to perform some weatherization on my home with a cost of around $10,000. This cost comes out of government funds, etc. Myself,...
Rick Lucette
Turning home into rental property - tax implications
hi Community,We just moved out of our home (purchased a bit more than 4 years ago). It is in a convenient location that rents well and we would like to keep it as a rental property. I fully intend on educating myself ...
James Quillen
Tax implications when living in the property
I'm trying to figure out the tax implications of the househacking method. I will be living in the basement of a property I just purchased and renting out the main house. Are there any differences from a tax perspectiv...