Bryce Bender
STR tax implications and mitigating tax impact
Hi all,I have been using my basement as an STR house hack for about 2 months, currently I'm only listing on AirBnB. It's done much better than I predicted (due to the summer months probably) and I want to ensure I hav...
Andrew Linderer
Tax implications for selling my personal home
So i bought my first home about 3 years ago. Did a live in flip and am looking to sell it. With the way the market is, I'm thinking about renting instead of buying. I've got a loan on my truck that I'd like to pay ...
William C.
Tenant lease break, penalty & tax implications
We have a tenant that was signed to a lease through Feb. of 2023. They have decided to break that lease and pay out the remainder of the lease in a lump sum. In the state the property resides in, we have a duty to mit...
Account Closed
Tax Implications: Paying Airbnb cleaner via Venmo
Hi All!
In Feb 2022 I bought and started managing my first airbnb. It has done well this year! But now that tax season is upon us I have a few concerns...
- My cleaner was paid about $9k via Venmo(this was a person...
Ann Arbor
Renting additional room in house tax implication
I have a question about how to handle depreciation of an owner-occupied residence where we rent out rooms. We placed one room in service in 2014 (25% of home) and filed the 4562 form for 25% depreciation of the buildi...
Dylan S.
Tax implications of Flipping SFH in CA?
Hi All,What are some tax implications to keep in mind for flipping a single-family home in California? For example, if I were to purchase a home for $1M, fix it up then sell it for $1.4M, how much of that $400k gain w...
Jennifer D.
HUD funding cuts- real estate investment implications
Hi I was looking into section 8 housing investment when I came across the funding cuts for HUD and how vouchers were voided before use earlier this year.
I’m rethinking my strategy now since there is a strong possibi...
Deepak P.
HML rehab loan refi & LLC implications
The hard money lender that we are working with will only lend if an LLC holds the title, not me as an individual. Our exit strategy is to go for a conventional refi, but if title is held by an LLC I suspect convention...
Rory McGonigle
Tax Implications for Out of State Investors
What are your tax implications if you set up a LLC in your home state, but primarily buy RE in other states? Specifically for buy and hold REI. Would you owe any taxes to the state where your property is in? Or sim...
Evan Jarvis
Paying with (someone else's) cash - Tax implications?
I have a deal under contract and have raised some capital from a private party to pay for it. The lender will be treating this as a "personal loan", meaning I will technically be paying cash for the property and have...