Dina Harleth
Find original purchase price of property w no deed of sale?
I was gifted a house by my father and am unfortunately not in contact with him. I have no deed of sale and no idea how much he originally paid for the house. This info is imoprtant because I may wish to sell the hou...
Tanim J B.
Understanding Lease breaking fee
Can you please help with General understanding for early lease termination.If Lease says, 1. Tenant must pay early termination fee. equal to 1 month rent.2.Tenant will continue to pay rent and utilities until a re...
Steven Logue
Using a vacation home more than 10% of time (depreciation)
Hello,I recently purchased a rental property and for the first partial year we used it 20 days and it rented 20 days (purchased at the end of the season). Since we used it above the threshold to be considered an inve...
Matthew Keeney
Month to month leases in Maryland
Hey BP. Finally have my first rental property listed and found some great prospective tenants. Im working on the lease now and am having trouble with the wording for making a month to month lease. I currently have 4 l...
Nick B.
Final K-1 and TurboTax
Do we have CPAs familiar with K-1 forms and TurboTax? I got a final K-1 from one of my investments (it sold in 2018) and don't know how to figure out my basis and sales price from the information provided on that and ...
Matt J.
Your One Piece of Advice for Newbies
Do you have one piece of advice that spurred you to get started in REI? Maybe it's something you learned along your journey or maybe it's something someone else shared with you.What is your one piece of advice for a n...
Daniel Cabrera
Help with Account Software for Flipping Houses??
Hi Everyone- I do quite a few flips each year and am looking for a software/app to help me with profit/loss for each flip. Currently I use Google Drive to set up a folder specific to my current flip and all the receip...
Sherri Schmonsky
Stock gains into 1031 exchange?
I have publicly traded stock which I'd like to sell without getting hammered on taxes.Is there anything equivalent to a 1031 exchange which would allow me to roll-over capital gains from the stock sale directly into a...
Scott French
K1 Loss with Standard Deduction
I have an LLC with 2 partners, which holds a multifamily property. I have no dependents/mortgage/student debt/etc. so I am still under the standard deduction.
My question is, what happens to the K1 loss that...
Melanie Johnston
How to Use a Mid-Term Strategy to Boost Your STR Income
If you own a short-term rental, there are likely to be seasons when bookings slow and you worry about generating enough income. The resort industry knows this cycle well. They have “high season,” when everyone wants t...