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Getting around the AGI limit for passive-loss deductions
My wife and I are looking into shopping for a rental property. However, our AGI is above $150,000 a year, and neither one of us is a real estate professional.
Because of that, it looks like I would not be able to ded...
Rachan M.
Tax implication: rental property with full-time job
Hi all!This is a fairly straightforward situation that I'm sure many people encounter.I have a full-time job and am new to investing. If I were to buy a rental property that rents out for $500 less than expenses (mort...
Brandon Williams
Taxes on Sals of a Property at a loss
Hey folks, bad news on my end. I’m selling an apartment at a loss and I was curious my tax implications.Scenario: Apartment, Purchased at $150k, selling at $125 in under 12 months (long story, don’t ask)No major imp...
Ali Hashemi
Vacancy Tax Write Offs
Pretty straightforward, can I write off vacancies as losses? I must act legally but what (if anything) can i do to squeeze tax benefits out of vancancies?
Dane C.
Short Term Rental Tax Loophole for Physician
I'm a physician with a fairly high W2 income (and thus high tax liability). I've wanted to get into real estate for a while as a means of diversifying my assets and reducing some of my tax liability. I'm facing a $280...
George Xu
Do we have to take QBI deduction?
If qualified to take the 20% QBI deduction, do we have to take it? One of my properties has a net loss for the year and opting for QBI deduction actually increases my tax bill. For my other properties with positive ne...
Eddie Lawal
I need some directions..Please Help!
Hello BeePers!.... I am hoping to get some insights from the experienced folks on this platform. I have 2 burning questions concerning my real estate business and any feedback will be greatly appreciated.Question 1: I...
Jason Frink
Out of state investing tax benefits.
Hi BP Family,I live in California and am about to start investing out of state. I have a CPA that I've used for years but when I brought up the investment to him he said my wife and I combined make too much money so t...
Rick Hoffart
Tax advantages ... will I still be able to claim?
Quick question ... I'm buying an investment rental property. For a few years we are going to let the inlaws rent it out for about 1/3 of the rental value. $500 vs $1,500.Since we choose to have this house in a negativ...
Leo Young
Can offset gains from stock sale with RE depreciation as a real estate professional?
Can you offset your capital gains from a stock sale with your depreciation from real estate if you're a real estate professional?e.g. If you get a lot of bonus depreciation from performing a cost seg on a property, ca...