Tom Rountree
How do you use depreciation if your MAGI is more than 150,000?
I've read IRS publication 527 and I think I need to form an LLC to separate the business income from our personal income. Thank you for your help and Happy New Year.
Tim Smith
How do high wage earners benefit from real estate related tax deductions?
Longtime lurker, first post. Thanks to the BiggerPockets community for all the invaluable advice -- it's helped me personally and professionally for many years.
Here's my question: This year my wages at my non-real...
John Chapman
Reporting loss from a rental property fire and the insurance proceeds
I had a rental house that burned down. I have owned it for a very long time and had depreciated most of the original purchase price. I had replacement coverage insurance and received about 300K to restore the house....
Paul Ryan
Depreciation recapture/taxes on a syndication investment
Hi all - I have a question on depreciation recapture as it relates to syndications and calculating after-tax returns as an LP (I am mainly thinking about multi-family here). As I understand it, an LP will have to pay...
Parker T.
Insure Rental at Replacement Cost
All,
I'm putting a bid on a foreclosure today at 30k. The insurance company quoted the replacement cost at 160k and with everything else factored in a quote of $94/m. This seems extremely high and doesn't fit...
Kenedy A Foryoung
Question about real estate and taxes.
Newbie on bigger pockets looking to buy a fourplex and house hack. I appreciate all the sound advice and points of view I have gotten on this forum thus far.Do tax deductions in real estate (for example depreciation) ...
James Farrel
Security Deposit: Loss of Rent to Complete Repairs After Moveout
Is it permissible to deduct loss of rent from a security deposit due to a unit not being available to rent again pending repairs due damage that was chargeable to the tenant if I could not reasonably complete those re...
Chris Yang
K-1 paper loss while applying personal mortgage?
Hello everyone, trying to get some sights for this topic.I started to investing in large multifamily syndication deals lately. My understanding is we always want to do accelerated depreciation and/or cost segregation ...
Christina Philps
Tax- unsuccessful flips
Hi guy- I'm wondering how I should report on my tax return an unsuccessful flip?
A bit of background - I bought 2 properties out of state using hard money loans last year. Turned out things didn't go as planned and ...
David Kramer
Liability Insurance on Older Properties
BP Community,I recently got a SFR under contract that was built in 1900. Though extensively rehabbed, the age of the property has made insurance brokers I have spoken to a little wary. I was offered only Cash Value po...