David Krulac
The IRS has a BILLION dollars to give away, here's how to get it......
The IRS has a BILLION dollars in money to give as refunds for year 2011. The IRS knows that this money is owed to the Taxpayers based on W-2s and 1099s that it has already received, and these Taxpayers overpaid and a...
Nick C.
Amend Return or Utilize Carry Forward
Hope I can explain this well enough. Background....I invested in two DST's in Jan of 2022. When I received my 2023 taxes back from my tax preparer, I noticed that they included income from the DST's but did not incl...
Account Closed
earnest money refund
Question for the BP community. What are the conditions that allow a buyer to get their earnest money deposit back during the due diligence period, if they decide to back out of the deal due to issues uncovered during ...
Theresa McGallicher
Short Term Rental Tax Question - Schedule C versus Schedule E
I have researched this topic extensively on Bigger Pockets and elsewhere and I am still struggling to understand the tax code.
I have a STR property that went into service in Jan 2022. I met the Material Participati...
Desiree L.
STR Loophole- Huge return for me
I have to give a shout out to Bigger Pockets! I am a regular listener to the Bigger Pockets podcasts when I am doing chores around my house and my STR property. A few months ago, I was listening to a podcast (I thin...
Vicki Gleitz
tax question
we own a brake and alignment shop. paying double on social security, as you all know, is rough. we have also been renting out our house in Bennett. we had a little plumbing problem that caused some damage last year....
David Mcginnis
Security deposits on a foreclosure auction purchase
Recently looked at an occupied 3 unit building that was scheduled for foreclosure. Presumably, the tenants has posted security deposits for their units. And presumably, if I had purchased at auction, I would then own ...
Eric Smith
SELLING TO TENANTS
Hi everybody! I have some tenants that want to buy the house they are renting. I bought the house with a line of credit and recently financed the house for the full amount of $37000 after making repairs at 5.5% making...
Robert Obniski
CHICAGO - Buying 2 Flat - How to do due diligence
I looking to purchase a 2 flat in the chicago area and be a live in owner. It's an off market deal through a wholesaler. One of the requirements is a $10k non refundable earnest money deposit. Like all deals the selle...
Martingale Kim
out of state rental income state reporting
I'm a MD resident and have rental income in Philadelphia, do I need to file and pay PA state income tax and get refund for the PA tax from MD state tax?