Cameron Lee Brown
Need advice on filing K-1 for non-state resident
I am a Tennessee resident and have invested in a syndication of a multifamily property located in North Carolina as a limited partner. The LLC that bought the property is incorporated in Arizona. I received an Arizona...
Andrew Thomas Vedder
Offset W2 Taxes With rental losses
My W2 income is 160K. I have a primary residence. I want to buy another home, move into that one, then rent out my current home.
If my PITI is $2200, and rents in the area are $1800, can I use any of the $400 loss t...
Maria Zielinski
Buying partner's share of apartment building & limit income tax
I own a multi-unit apartment building with my parents and they are looking to sell their share. I purchased their partner's share about 15 years ago. They have owned it almost 30 years and their accountant is recommen...
Navid A.
Need help on how to get paid
Hey BP,I got wrapped into an informal partnership on a real estate flip project that we are about to sell after 3 months of rehab. We split the costs 50/50 and we are about to close soon. Since the partnership/deal wa...
Kevin Suksi
Tax Treatment of Investment Property Sold at a Loss via Land Contract
Thanks in advance for any insight on this item.
I am preparing a tax return for another investor who converted her tenant to land contract.
This property was purchased in 2005 for $106,000. The investor is tired of...
Mike Miller
Capital gains with intention to rent?
Hello BP,So here is my situation:I bought a REO in January 2019 with the intention of renting it out for a little over a year and then selling it. Long story short, my tenants only lasted from February till June and t...
James Hamling
Minnesota Market Meetup -online-
If you are one of the many people asking where you can find out more about the Minnesota markets, Minneapolis, Saint Cloud, well I have heard the request and am jumping back up on the stage to help deliver BUT I need ...
Maqsood Alam
Question on cash based accounting for RE investments
Wanted to clarify this with a wider audience.
Recently a Real Estate developer approached me and explained the following. Wanted to see how legit this method really is.
1) Open an LLC with Cash based accounting met...
Pavak Shah
Auction purchase in Knoxville, TN
I haven't purchase any property so far but I am looking actively for good deals in Knoxville,TN. I was talking to one of my friends and he mention about online auction. Any one has any experience in online auction. Is...
Tyler Speelman
Convert STR to primary to avoid depreciation recapture?
Hey BP folks!We have a few STRs that we have done cost segregation studies on. After operating the STR for the first year can we turn the STR into our primary residence for 2 years then sell and avoid capital gains ta...