Account Closed
Capital gains tax on an out of state rental
I live in California and own a rental in Washington state. When I sell the property will California tax me additional on top of the 15% federal capital gains tax?
Duke Giordano
Tax attorney for LLC set up with real estate experience
Hey Guys,Do you have any experienced tax attorneys in real estate that you recommend for setting up a proper LLC for RE investing and Asset protection? I am actually going to be investing mostly as an LP in multiple ...
Meagan Gauthier
Sell my house as a primary residence or as a rental property?
Additional concerns: tax implications, risks, benefits, & any additional information especially involving paying the least amount taxes.
Robert McDowell
NY State Capital Gains
We are selling our primary residence in NY state (not NYC) and I'm a little confused on how capital gains will be handled at the state level.
Thy his has been our primary home since we purchased it 2.5 years ago. I'...
Ryan McCaw
What's the best approach to buy out LLC partners in a rental property?
Hello, my wife and I co-own a rental property in an LLC with her parents (my in-laws). They contributed $125,000 cash as the down payment (25% of purchase price) but my wife and I are the only individuals on the mortg...
Chris Springer
Reinvesting Wholesale Profit into a QOZ
I am having difficulty finding an answer to this question... If I wholesale a property (true wholesale where I never gain possession, but do get the assignment fee), does the income count as a capital gain that I coul...
David Garcia
Tax Treatment of Gain from Discounted Note Purchase
I own a First Mortgage Real Estate Note with a face value of $90K. I paid $72K for the note, which has a balloon payment in 2 years. Does anyone know the tax implications, if any, when I realize the $18K gain from t...
Kwan Cheung
1031 EXCHANGE to a less valued property
I am planning to sell my out of state rental in Las Vegas, it is a SFR owned since 2015 that has a mortgage balance of 150k. And would like to 1031 exchange this to a condohotel in Las Vegas. The cost of condohotel wi...
Lendall Stone Knight
Tax Exit Strategy for Amazon HQ2 Properties
2 years ago purchased 2BR/2BA condo in 4-star building to live in; one year ago acquired two additional condos same building through 1031 tax exchange that break even on cash flow but lots of gain embedded in each fro...
Ying Lan
Taking over parent's house
Hello~ My parents are selling the house they've lived in for 20+ years. We're thinking of taking it over and renting it. Need advice on the best way to transfer the home from their name to our business/corporation n...