William Morrison
Income Tax Filing For Rentals In Multiple States
I looking at buying some rental property out of state.Both states have income tax.So at that point am I filing income tax in every state in which I would own property?And then the whole deal with number of days spent ...
Able Waller
Rental Tax on Personal Income plus Finance QnA
I own only one property in my personal name. Everything else I am partnered on various LLC's for flips / rentals. On my personal taxes, how do I report and how will I be taxed for my rental income? Also, anyone ...
Mike H.
1st Post - income tax rental house/s depreciation
Hi BP!First post here. I'm a long time lurker. This community is really cool. My background... I grew up in Gainesville, FL. I worked my way through college and realized with my income I could buy a house. I boug...
Billy Raz
Texas: Net Income Taxes from Single Family Rentals
So,I know that Texas has no state income tax. Does this include net rent for rental homes under an LLC?For example, if I show a positive net cash flow of $1000 for a rental property, is the IRS going to collect any i...
Lynn Knights
Income Tax Return - Buy or pay on Debts?
Hi everyone, I am new to BiggerPockets and Real Estate. I currently rent. Last year I had my second child but only 3 months into my pregnancy I was placed on bed rest and have yet to return. Living paycheck to paych...
Julio Gonzalez
Earn tax-free income renting out your home
Did you know that you can rent out your home for up to 14 days per year without having to report the rental income on your tax return? Section 280A(g) of the Internal Revenue Code is also known as the Augusta Rule. It...
Joe Szymczyk
TAX Time...Deductions needed to get income down
Hello real estate peopleI have a situation where this year i have to pay to the IRS on taxes..Situationmy AGI income is 160k....work In IT for a big corporationi have 9 houses, i maxed out the deductions...repairs, su...
Zk Lani
Real estate tax benefits for high income earners
Hello BP community. Are there any real estate tax benefits for W2 high income earners (over $250k)? I’ve read several books/posts/blogs on tax benefits for RE investors, and even contacted a couple of CPAs who are act...
Mike W.
Income taxe planning on owner financed wholesale/flips
New to the board here but have been reading for years. I am a seasoned (25 year) real estate investor and broker. I have searched this forum for answers and discussions but have not found anything so here goes...For a...
Igor Aka
Cash flow after income tax for rental property
Hi all - does anyone use cash-flow after income tax to evaluate the attractiveness of a property? I projected positive cash flow on a prospective property... until I added my expected income taxes, which turn the numb...