John T.
CG tax on selling for same purchase price?
Are there any capital gains taxes (or any taxes) for selling a property at the same price at which it was originally purchased? My common sense says no, but I could be wrong. Any insight is greatly appreciated.
Matt John
Rehab costs - add to basis or take loss that year?
When you purchase a property and immediately rehab before renting out, do you add the cost of the rehab to your basis of the property, or do you take a loss that year? Does it make a difference if you have a bunch of ...
Jon M. Gaynor
Transfer property to LLC to offset cap gains?
Better minds-I have a property that has suffered a market loss in value. I have another property that I’m planning to sell which will have capital gains. Can the cap. gains be offset by transferring the property with ...
Adam L.
LLC taxes on a Limited partner equity investment?
So not sure if this is in the right subforum.So I and 3 friends created an LLC to invest in a larger RE operation. The big company buys 500+unit apartment complexes and BRRR's them, offering 'shares' as Limited Partne...
Jagadeesh Chandramohan
Depreciation Recapture
When you sell a rental property, depreciation recapture is taxed at higher rate.My question is do you owe the tax on depreciation recapture if you actually had no tax benefit from it during the years you were renting ...
Jim Piety
Should I sell my breakeven rental?
I purchased a fixer upper through a wholesaler in March 2021. After more repairs and expenses than expected, i could not sell the house for a profit. The house would not appraise. So instead, I refinanced, pulled out ...
Carole M.
LLC Partnership Dissolved 2011/tax questions
In april 2009 a LLC Partnership was formed (50/50) between two siblings. The Partnership was dissolved June 20, 2011 with one partner (myself)selling their membership interest/share in property to the other. The rem...
John Pauler
Taxation for private lender on fix and flips
I am looking for help on tax implications for two flips I invested in passively with slightly different terms. For both of these, I was completely passive, simply supplying the capital and waiting for my return. FLIP ...
Dustin Ruhl
Strategies To Avoid Capital Gains Tax On Rental Property
As income gets tighter for everyone, it becomes all the more important to find ways to keep more of your money. Keep it working for you, keep it turning over in investments, and keep it from flowing away in taxes. Cap...
Sattir Bitti
What happens to Passive activity loss on 1031 exchange?
Hi,When 1031 exchange is performed, what happens to the Passive Activity loss on original property? We have considerable PAL and good equity on the original property, wondering what happens to this loss after the exch...