Rich Hupper
What are the tax and legal implications of this....
I have a client who bought a property with cash at fair market value but now wants to give it to his family's LLC for 1 dollar. My client is not a member of this LLC. Can someone tell me the the tax implications of th...
Annette Wanamaker
Tax Implications - Using Flip Profits to pay down HELOC
Hello, BP land!I've just purchased my first long term rental and am looking at next steps. I used a HELOC on my primary home to finance the down payment for this first property. I am considering a fix-n-flip next to...
Patricia Saltzman
Tax implications to convert LTR to STR mid year?
We converted a LTR into a STR September 1, 2022.Of course i've waited to the last minute to complete my taxes and am struggling with this.I have completed my taxes for 20+ years using Turbotax - but this is a little c...
Justin Li
Loan implications of putting your property in an LLC
Reposting this here because I got no love in the Starting Out forum!By way of brief introduction - my name is Justin and I'm an out-of-state real estate investor, currently focusing on single-family and small multi-fa...
Angelo Cortez
2023 STR Cost Seg -> 2024 MTR/LTR conversion implications?
I am considering a strategy where I buy a STR in 2023 (do cost seg + bonus depreciation on it), then convert it into an MTR/LTR next year. My CPA said that this has never been done before, nor does he recommend doing ...
Cathy McNair
1031 transactions relative to moving to Canada - tax implications
I am a dual citizen and currently a long-time U.S. resident, but moving back to Canada this year. I would like to do a 1031 exchange of one U.S. rental property into another U.S. rental property of slightly lesser va...
Luke Moore
Tax implications of seller financing properties and business structure
I was listening to a podcast this morning and the hosts were discussing the origination of a seller financed loan on property that they own to either hold or sell as a performing note. I have a rental property that ha...
Josh Bloomquist
LLC, Quit Claim Deed, and Due-on-sale implications
I acquired a SFR recently and would like to transfer it to an LLC for added liability protection of my personal assets. Before closing my lender told me I would simply need to do a Quit Claim Deed to transfer the pro...
Billie Joe
Tax Implications of Separating Real estate from Business LLC
My mother and I purchased a rental property last year, we are 50/50 owners. We paid cash for property at 22k, put some work and money into it, and it's been valued by the auditor at around 45k before improvements (how...
Zachary Thompson
Tax implications of an angel investment into my LLC
I have a single member LLC (sole proprietor) and I'm wondering if I must pay taxes on an angel investment? I intend on withdrawing most if not all of the initial investment. Thanks!