William Allen
10 Strategies to Slash Your Taxes this Year
10 Strategies to Slash Your Taxes this YearIf you have ever experienced being ‘caught out’ on your taxes and owing a huge amount, you know you don’t want to repeat that mistake again. We have gathered a few strategies...
Lucy Bennet
Tax Reporting Question
I'm trying to save on taxes but wondering if this method is correct. Can someone help?I have rehabbed and sold House A in April 2020 and House B in May 2020. I have purchased 2 more houses (House C and House D). Have ...
Nick B.
Final K-1 and TurboTax
Do we have CPAs familiar with K-1 forms and TurboTax? I got a final K-1 from one of my investments (it sold in 2018) and don't know how to figure out my basis and sales price from the information provided on that and ...
Steve Walker
Taxes
I’d appreciate some feedback on taxes.
My mom owns two houses outright. She resides in one of the houses, and I rent the other which had belonged to my late grandmother. These houses are in Colorado....
Humberto Perez
Underwriting denied my loan
I was pre-approved for a loan, 2 days before closing underwriting denied me. They requested me to put more down, but down my interest and pay an initiation fee. Is it worth it or should i just take the loss and loose ...
Lance Anderson
Bank sees Carryover losses seen as liability in refinancing
Currently have 3 rentals carrying legit losses on my tax return for a number of years now. I understand that this will be useful when I sell, in order to reduce my capital gains tax. It also reduces my AGI from my 9-5...
Peter Mikhjian
Rental Property Sale + 6 Figure Capital Gain = Huge Tax Liability
I've got a good/bad tax problem and I'm looking for some advice:My wife and I bought a rental property in 2015 for $275k (no LLC, purchased directly in our name, so technically a partnership). We put about $25k into ...
David Ounanian
What tax benefits or implications should I be aware of as a real estate investor?
Real estate investors should consider key tax aspects for financial optimization and compliance. Given potential tax law changes, consulting a professional is crucial. General considerations include:Income Taxes- Re...
Kent Smith
help for a newbie re taxable rental income
I have read several threads on this, but I am a newbie and still a bit confused.We are married filing jointly with an income close to 150k last year. We own one rental property. No actual profit last year. Our monthly...
Arnaud Petel
Use of tax deductions on your personal income
Hi all,I am starting my real estate investment journey and am trying to understand the impact of tax deductions. Based on my calculations my first rental property will not be profitable from a tax standpoint after all...