Tab B.
Paying Taxes After a flip owned Property for less then 2 years
Hello. To make a long story short. I sold a house#1 in November 2019 I owned the house for 15 months. After renovations I sold the house#1 for 100k in profit. In September 2019 I bought a house #2 that i want to keep ...
David Crothers
Tax Suggestions for STR Income on W2 Income
Hi all,I've been reading posts on BP for some time now and I'm hoping the community might be able to provide some suggestions. I'm in a bit of a tricky situation, my household annual combined joint income between my w...
Adam Homan
First Tenants in Place
I've got my first tenants in place and so far, so good. My real estate investment portfolio has officially started.
Devin Troche
Does 1031 exchange apply to hard money profit?
Would a 1031 exchange be able to be used for money received back from a hard money loan? If not what would be the best way to reinvest so taxes would be minimal? We invested in a property here in Hawaii 2 1/2 years ag...
Peter Schuyler
Paying down Mortgage and the IRS view
I think I know the answer to this, but if I want to reduce my passive income, is paying down the mortgage via extra principal payments reduce my passive taxable income or is it viewed basically as profit? (this is in...
Sean Waits
Taxes for borrowing private money?
So I have been in talks with someone to get private money. I have gone through purchasing the PPI and giving up 10% of the purchase price as security, as per the contract. Now the lender is telling me that there is ...
Kevin Carrillo
Turning already personally owned property into LLC
Good morning everyone,
My name is Kevin Carrillo. I have a 30 year mortgage on a 4 bedroom house in the Dallas TX area. I live in one of the rooms and rent out the other 3. After stumbling upon BiggerPockets on Youtu...
Penny Myers
Private Mortgage Insurance
We are owner financing the sale of one of our rental properties. We would like to require the buyer to have mortgage insurance. Any recommendations or referrals to companies that offer such a product?
Michael Plante
You pay income tax on your profit when selling correct?
Ok I THOUGHT I knew about these things after buying and selling real estate for many years BUT am always eager to learn except when doing a 1031 exchange you need to pay income tax on profit when you sell a property c...
Boaz Shor
ADU Tax advice
I'm currently house hacking my primary residence SFH by adding an ADU.I saw that I can get depreciation on the ADU cost and even do cost segregation.My question is regarding what happens during the sale.I know about ...