Daniel Dietz
How is "boot" taxed in a 1031 Exchange?
Hello All, I am trying to understand how 'boot' is taxed in a 1031 exchange. I am looking at a potential purchase from a relative and they might be interested in doing a 1031 into a new property, and I am wanting to e...
Stephen Shelton
With rent, what gets taxed?
I have a question on what gets taxed when it comes to rental income. Of course there are loads of other factors but I'm looking for general answers for someone living in the US without state income taxes.For example,...
Yinna Wang
Real estate professional tax benefits and LLC structure?
My husband and I own rental property together, we are both on the deed. My husband qualifies as a real estate professional for tax purposes. We want to use that to offset my income, as I am the higher earner (I have a...
Cameron Price
Depreciation: when do I get credit for initial purchase?
I've Learned a ton about accounting lately, but I just can't seem to figure out depreciation.I bought a rental property for $25,000 in 2012. I was paying back $500/ month at 4% interest to a private investor. I sold t...
Steve Maye
Cashing out of rental property - Reduce taxes
In the next year or so I think we will be selling our 2 rental properties and our primary residence to buy our retirement home. I want to explore ideas on how to reduce my tax burden. We want to buy a home with plen...
Sean Nelson
Buying Real Estate to Reduce Tax Burden
Newbie here. Im fascinated with the depreciation aspect of real estate and I have a question.Lets say I own a few different non-real estate related businesses. And my earned income from those businesses equals about $...
Mark S.
Qualifying for a Mortgage with Small Business Tax Deductions
Hi,I am a rather new investor with two duplexes in the DFW area. I also have a small photography business which helps reduce my personal taxable income. The question I have is do I have to be careful about how many e...
Andrew M.
Maximize tax savings with investment property
Hi all,I'm purchasing an investment property next month (December) (2 units). I want to maximize my tax savings when I file my taxes next April, so I was wondering what I should do til the end of 2022 to maximize my t...
Derek Rice
Is it Tax Deductable? Menards Rebates used to buy supplies.
We recently had several Menards home improvement stores open in my area and they are awesome! I tend to get business items there for about the same price as anywhere else, but if you time their ads, they send you reba...
Tiffy W.
LLC's R/E losses to Personal Income tax 1040
Hi,I am a R/E investor that is seeking the community's thought on the following tax related questions. Please feel free to chime in and provide your two-cents. Appreciate any help in advance.Background Information: I ...