Michinori Kaneko
1231 Loss and 1031 Gains
Hi BP Team,Hoping there is a tax professional out there that can address my question. I recently realized a significant 1231 loss. I understand there is a 5 year carry over on this so if i realize any gains those ga...
Dave Holland
Insurance requirement from bank
I'm getting conventional financing on a 4 unit property with a purchase price of $130k. The appraisal came back with a rebuild cost of $428k and my bank says my insurance must be for at least 80% of this cost.
I was...
Matt Pulkrabek
Open Door Capital and K1 Investment losses
My question is regarding passive real estate losses. I am a real agent and investor, therefore I am considered a "real estate professional" for tax purposes. With that being said, my accountant has always allowed ...
Cherie Hampton
Conventional Lenders Don't Like House Hacking Strategy
Merry Christmas and Happy New Year BP Family! Has any house hackers run into issues getting a conventional loan for a new/primary residence due to taking a loss on prior years tax filing on multiunit? Otherwise consid...
John Schnyderite
Large Downpayment make sense
This is going to be a long one, so prepare yourself =)
My fiancee and I have been house hunting for a personal residence for a few months now. I own a home since '09 that is underwater (stand to lose 18K or...
Ashneel Reddy
Real Estate Professional Tax Designation By Getting My License?
Hi,I am in a situation where I am unable to claim losses from real estate due to active income being over the limit. If my wife gets her real estate license does that automatically give us the real estate professional...
Ben Lee
Using LLC to offset Rental income against Active income (W2/Capital gains)
From my research, I understood that my rental property paper losses could offset my W2 income/capital gains if: (1) my AGI is under $150k, (2) the property is a short-term rental, or (3) I have a Real Estate Professio...
Corey Demuth
How does Depreciation Work?
can someone explain how depreciation works in a nutshell, and how it helps your taxes?
Shak F.
Liability insurance recommendation for the investment property
Hello BPs, I am in process of closing an investment property. The lender is looking for proof of insurance/insurance. Is there any recommendations how much liability should I keep?I am new to the investment and BP. An...
Paul B.
Small landlord exemption: always been $25K, up to $100K MAGI?
As the owner of a single rental property, I've been deducting rental losses every year, thanks to depreciation. I never thought much of it, because my W-2 income has always been well under the cap of $100,000 where it...