I closed on a sub-ground condo less than a month ago. Last week I found a damp area in one of the bedroom closets. I’m anticipating that it may be due to a crack in the complex’s foundation, since it is localized to a...

Do I have to fill out Part II “Special Allowance for Rental Real Estate Activities with Active Participation” of form 8582 “Passive Activity Loss Limitations”?

I am married, and our combined AGI is $125,000.

We mak...

In 2022....
I renovated 23% of the square footage of my primary residence (addition on the house that has a private entrance) and launched that space as an STR.
The average daily use was/is less than 7 days.
I k...

Thought this was a great information on how the tax reform will affect commercial real estate investors. I have not checked to see if it was posted and shared before. I apologize in advance if it has. How CRE Investor...

Hello Biggerpockets Family, Need help with two things:I need recommendations for a reputable firm that can perform a cost segregation for a STR investment in Fairfield County Connecticut.Concerning the passive activit...

I did a cash out refinance on my primary residence in 2017.  I did Not use the loan proceeds to buy, build, or substantially improve my primary residence.  Instead, I used it to fund other real estate investments.  So...

What are the tax ramifications of deciding not to rent a rental property and just leave it empty?
This is a property purchased via 1031 exchange, rented briefly, and depreciation has been taken for 3 years.
Long ter...

We have 25 SFR that I self manage. My wife retired a few years ago due to our strong RE cashflow. What are the advantages of claiming her as a real estate professional? We show a loss on the rentals due to depreciatio...

Hi BP team
I am looking at purchasing 4 properties in the next 30 days but would like to put them in an LLC with my investment partner. Primarily to protect my other assets but also so we can claim expenses for taxes...

I make under the limit to be able to deduct 25k against my w-2 teaching income.  Is anyone aware of there being a limit to how many years you can consecutively take a loss? I am not sure of how pissed the IRS would be...