Varinder Kumar
help me calculate this capital gains
Looking to sell my current property for $710,000 balance remaining is $580,000. Purchased October 2021, so it has not been 2 years yet. How much percentage capital gains tax will i pay?Is the capital gains tax calcula...
Pesi S.
Advice on Biggerpocket's Rental Property Calculator
Hello,Appreciate if someone can please advise and explain the "Annualized Total Return" calculation on Bigger Pockets Rental Property Calculator. In the below example, if i were to sell the property at the end of 5th ...
Jeff Mitchell
Deprecation never taken and can't claim rental losses
Hello,
I am asking this question for a co-worker. He bought a rental property 15 years ago and has never taken depreciation on that property. Not clear on the reason for not taking it, I think he just had a bad accou...
Louise Whidby
Equity definition in RE
I don't understand the term Equity. Can someone please break it down in RE wholesaling terms. I looked up the definition and this is what I got..... The difference between the current market value of the property and ...
Karen Scheil
Help...Inherited Rental Properties...Sell or Keep
I inherited rental properties around the Atlanta area 1 1/2 yrs ago which are all mortgage free. The obvious...keep them, but I am overwhelmed (also inherited active commercial supply b'ness and many other personal p...
Luke G.
1031ing multiple properties with different LLC's.
I've asked around in my real estate circles and nobody seems to have a definitive answer (including my CPA or the 1031 intermediary). I'm currently selling 2 properties owned by 2 different LLC's (I'm the sole owner ...
Account Closed
Which bank do you USE?
Good late afternoon to all my Los Angeles people! I am sure I am not the only one who is pondering this...Which small bank whether it be credit union, community bank, or private lender have you found to give the best ...
Timothy Parish
Solo 401k IRA
In 2015, my sister had a business which was essentially her livelihood. She approached me an indicated her landlord was selling the building and would I be interested. I always was intrigued about real estate, so I pu...
Simon Obas
Flipping homes, taxes, capital gains
Peace. I’m interested in knowing how you all house flippers are filing taxes. I flipped a home in January and selling another one in 2 weeks. I purchased both homes under my LLC and will sell them under my LLC too. I’...
Matthew Cater
House Hacking Questions
Some general questions about house hacking:
1. Tax question- If a person purchases home 1 as an owner-occupied personal residence house hack and then moves out the next year and purchases another owner-occupied resid...