Viraj Patel
How the IRS taxes different income
I recently started reading "Tax Free Wealth" by Tom Wheelwright and I realized how much my knowledge is lacking on the tax side of investing. Further, I realized how confusing the different terms are for the various ...
Rashid S.
Unsold property expenses - put on personal 1040 or under business
Hi Guys,I am not looking for a CPA level advice but just looking to know the basics to vet out CPAs when i go talk to them.I started in real estate last year. first property i bought at auction with cash was under my ...
Severin Sadjina
Partnering on a Deal | No Money Down
Hi!A bit of a Backstory (optional)After having gotten my first deal (a small rental) this summer I was a 100% hooked. So I started looking for new deals, and luckily the market here in Norway is quite slow at the mome...
Rich McCormack
Tax implications for selling an investment property for a loss
Hi BP,I bought a townhouse as my primary residence in 2006. Moved out in 2011 and converted it to a rental unit which I recently sold in 2015. My question is about how to treat the loss for tax purposes. I have a CPA ...
Michael Sawers
Tax Deductions Exceeding Income
I have been analyzing houses for almost a year now. I understand the basics and really just need to dive in. One thing that has been a little confusing to me are the tax deductions. Off the top of my head, you can ...
Craig Bellon
Trying to purchase 3rd home and Schedule E question
I'd like to purchase a third home as my primary residence. I have two other properties, (A) and (B), already rented out. Property (A) rented out in 2014 and property (B) was rented out in August of 2016. On my 2014...
Brenda B.
Does my silent partners needs to be in my LLC
Hello everyone! I have a silent partnership agreement with a friend in where we established the I will be the managing partner and he will be the silent partner. Me as the Managing Partner shall have full and sole aut...
Raman Bindlish
How does Cash out Refinance accounted from Tax Purposes
I have a question with respect to Cash-Out Refinance.Background and some context- We bought a duplex last year and put in some money into it.- It lost money this year due to an eviction and we ended up doing a major r...
Brandon Elliott-Pandey
How to get money out of your 1031 exchange! LEGALLY :-P
I had a thought the other day and after asking around from a handful of agents, seems like this is possible. I am a REALTOR and have property that I am interested in 1031'ing. If I pay a buyers agent fee and sellers a...
Dennis Tierney
Cost Segregation Depreciation Uses
We came up with a couple of uses for accelerated depreciation by cost segregation. We had a failed attempt at 1031 exchange last year but were able to eventually buy an apartment building so the losses generated by th...