Chris Mason
420 friendly jumbo
Any of you ever brokered a jumbo loan for a full time self employed medicinal pot dealer? Who did you use?It's all legal (CA legal, anyways) and on the borrowers tax returns and all that.
Harsha G.
Private Lending - Passive Losses on Schedule E
Hi All,Is there any way to structure a private lending arrangement so that income is considered passive (by IRS standards) and can offset accumulated schedule E losses? Perhaps as a syndication or credit fund?
Anna Thanopoulou
First year depreciation in STR
Hi everyone. We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct again...
Isaiah Tademy
Real Estate Professional Status & Taking Losses Against Full Time Income
Hello BP Community,I'm a bit stumped. I've talked to several investors and my CPA and am getting different answers. I am a full time insurance agent with a relatively high income, and my wife got her real estate licen...
Maria Lamb
Do I need to send 1099’s?
I purchased a fixer apartment house, unoccupied, in 2020. It will be ready for occupancy in early 2024. My accountant said I didn’t need to issue any 1099s yet because the property is not in service as a rental. This ...
Edita D.
Penaltiies due to owing IRS in backtaxes
Hey guys!I submitted all requested paperwork to our accountant on March 30th, 2016. When I had my appointment, I explained that we need to ensure to submit the taxes ON TIME as we may owe in back taxes, in which case ...
Joel R.
Am I required to issue 1099s to contractors if I only have one rental unit?
Hello Everyone! I am looking for some advice regarding the 1099 / 1099-NEC tax forms and whether or not I must issue these to contractors for my specific rental property. I currently own just one property (a duplex) a...
Mark Kvam
IRS leins how to find if on a property
Looking a property that is in foreclosure and just found out the state has just put a lein on it due to seller not paying state income tax. How can I find out if the IRS may have a lein on the property? Can the IRS ...
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IRS Tax Redemption after Mortgage Foreclosure Pennsylvania
Does anyone know 120 days Tax Redemption right still applies to state of Pennsylvania, city of Philadelphia to be exact?
Sheriff's Department claims to convey the clean title but I have this property that I purchased ...
Ken Neusaenger
Investing in raw land that is under ag exemption in texas
I'm interested in purchasing a piece of raw land that is about 20 acres using my IRA. It is currently raw land with no improvements. I have more than enough in the account to pay for the land - about 4X the cost of ...