Huiping S.
How to prepare flood loss for tax return?
Lots families were flooded from Hurricane Helene. The flood insurance will cover limited, structure may or may not the contents. Lots people's car, appliances were died. The loss is very big for those family. I drove ...
Bryan Butler
Can I offset taxes on 401k cash out with real estate investments?
I may have a new job opportunity and am trying to figure out what to do with my 401k. At first i was going to roll it over into a self directed roth but am also thinking of cashing it out to buy real estate outside of...
Snehal Ambare
Primary Residence converted to Rental - Capital Loss
Hi! We bought our primary residence in Orlando FL in 2006 for $260,000. This year we are buying a new home and looking at potential to convert our current home to rental property. Would we be eligible to get tax break...
Henry Clark
Self Storage- LLC Operating Agreement
Along with creating an LLC entity and creating a "Certificate of Organization", you need to have an "Operating Agreement".Attached below is a redacted copy. Virtually anything can be written in to this agreement. Wh...
Jeromy Jordan
Insurance coverage-small commercial multifamily property
Hey BP Community,Question for the commercial multifamily investors out there. What type of insurance coverage are you using to protect your asset? What should I be looking for in a good insurance policy for a small co...
Jacob Vorreuter
Tax implications of equity syndication deals
What are the tax implications of investing in an equity syndication deal as a limited partner?I’m considering investing in commercial multi-family equity syndication deals through a crowdfunding platform. I’ve reviewe...
Eric Williams
Oversimplified Cost Seg Example
Let's say a rental property gets 12k in rental income, passive.Cost seg gets 50k, resulting in passive activity loss of around 38k.The amount of passive losses carries from the Sch E to the 8582 to determine the loss ...
Tom Wheelwright
Are You Active in Your Rental Real Estate?
Even if you have strong positive cash flow from your rental real estate, chances are you still have a loss for tax purposes due to the depreciation deduction.
This is a great tax strategy because your positive cash...
Sattir Bitti
Payoff Primary mortgage with Rental property sale proceeds
Hi,I want to sell my rental property which had appreciated well enough to payoff my primary home mortgage. Any pointers on how the tax on appreciation is calculated taking into considering the passive activity loss ov...
Wai Hong Wong
Real Estate Loss to offset W2 wages for Tax purpose
Could we use real estate loss to offset W2 wages income tax? If yes, does the property need to under personal name? Or it works even if it is under a legal entity? Thanks