Tamas Z.
How to determine cost basis (for depreciation)
Hello,I have a newly-purchased residential rental property, and I'm just now setting up my financial tracking for it.What's the correct number to use as the original cost basis, for depreciation purposes? I'll be spli...
Julio Gonzalez
Important Tax Update on Inflation Reduction Act and Real Estate!
Attention all Accountants and real estate investors!
The Inflation Reduction Act (IRA) of 2022 was signed into law on August 16, 2022 by President Biden.
It’s a $737 billion investment that according to two of the ...
Thomas Macaluso
Buying houses before tax foreclosure auction (Charlotte, NC area)
Hey Everyone,I am pretty new to all of this and excited to join the forums. I have been doing some digging on this subject but can't seem to find a ton of information. Hoping I could find anyone here that could help m...
Eric Jones
Is Interest on HELOC secured by rental property tax deductible?
I have a tax question regarding the mortgage interest tax deduction on investment properties.Here's the scenario:1. Currently have a large HELOC on my primary residence (House A)2. Use the HELOC to make a large down p...
Marcus Mccluster
Tampa Bay Area tax deeds
Can anyone recommend a good lawyer or title company in the Tampa Bay Area who does Quiet Titles?
Mikey C.
Buying a house at a foreclosure auction
Hello, this is my first post here.
There is a foreclosure auction on a 850 square foot house that's appraised at $330k. The land that the house sits on is 50ft by 300ft. The house on one side is nearly 500k and t...
Joel Borja
Should I get a CPA if I am on my first house hack?
Hi,New to BP and this forum. I got my first property at the end of 2019. I started house hacking this year. I started listening to BP and reading the books at the end of last year. Which I am super grateful for becau...
Ashish Acharya
No Capital Gain Tax in Colorado
Qualifying taxpayers can claim a subtraction on their Colorado income tax returns for certain qualifying capital gains included in their federal taxable income. The subtraction is allowed only for capital gains earned...
Henley H.
Tax implications if a 1031 exchange becomes primary residence?
I am looking at selling and investment property and would like to do a 1031 exchange. Their is a possibility that the new property I purchase for the 1031 exchange will eventually become my primary, owner occupied re...
Alexander Thomas
Redemption and preservation costs
Greetings everyone, I am a new tax lien investor in Alabama. I recently purchased a portfolio of tax deed properties prior to 2018. One of the properties has a lienholder looking to redeem. This property has had exten...