Matthew Crane
How will building RV/Boat storage impact my W2 taxes
I'll make it quick. My W2 income is >$550k/year, if I build an RV/Boat storage facility, will my storage business expenses/losses be able to reduce my W2 taxable income? Or do I have to have REPs status for this si...
Christian Drbal
spouse as LLC for tax benefits
I'm a full time W2 worker opening an REI LLC and want to ensure maximizing tax benefits for investment expenses under the LLC. I have my wife listed as 50% owner of the LLC as she is not employed. Does she need to b...
Buddy Holmes
offset of property sale gains with passive RE losses
I have a tax question about passive RE losses and LTCG's from sale of passive RE investments.Specifically this year I have a small cash out of a 1031 exchange of DST'S (Delaware Statutory Trust).I have net passive los...
Brad Rondeau
Tax on my rental when I sell
Hello, My property is in Laguna Niguel CA. I purchased a 3 bdrm condo for $365,000 in Dec 2009 with 20% down. I now have a 4% loan but pay $280 in HOA fees monthly. I did about $16,000 in improvements - paint, carpet,...
Patricia Andriolo-Bull
Why I chose to NOT 1031 exchange
Thought I'd share my recent decision to not complete a 1031 exchange and get your thoughts. I recently sold an investment property with net proceeds of $1.8M. Cap Gains on this will be ~$400K. 1. I was having troub...
Parth Patel
Tax Benefits of House Hacking
Hello guys,While I've listened to many bigger pockets podcasts, I'm new to the community and this is my first post. At 30 years old and after a long educational journey to become a doctor, I'm finally at the point in ...
Noel R.
Tax savings through neg/break-even invest property?
Payed an arm and a leg in taxes this year (I know not a bad problem to have) and want to reduce the cost next year. If I purchase a property which will break even at best and possibly cost me a bit can I make up the d...
Buddy Holmes
Active-Passive and Passive-passive loses and the $25K deduction
Help please in learning how passive losses can offset Cap Gains.I watched Brandon Hall's great #45 Daily Smart Tax video but my Turbo Tax seems to have a different opinion.
Form 8582 calculates Passive loss Limitati...
Cooper Marcus
How do single-property LLCs typically allocate investor losses?
How do single-property LLCs (I'm most interested in multi-family, but I'm guessing this answer could apply to any property type) typically allocate tax losses to their partners/investors?For example, if a given proper...
Chuck Win
S -Corp, C -Corp , LLC
I have 4 rental properties, All managed by 2 different Companies, One property is paid for, other three I have mortgage. My three mortages (3 different mortage companies) will not allow LLC or S- Corp, Question 1) ...