Bilal A.
Sale of Primary home being used as a rental
Hello BPers,I have a question about the sale of my primary home that has been rented for the last year. I lived in the home for 2 years and it was my primary home. Had to move out of state due to work. I was not able ...
Account Closed
K1, Box 10, Net Section 1231 Gain - Where Do I Report This???
I'm going in circles trying to figure out where I report my K1, Box 10, Net Section 1231 Gain on my personal return. Partner instructions say I report it on form 4797, except that is where the number came from in the ...
Account Closed
Bought Flips, Paid For Flips 2019
Hi Tax pros and experienced tax filers! In 2019 I bought a flip house, and spent all of 2019 and now 2020 working on it and 4 other properties I bought in 2017 and 2018. So 2019 has big a gigantic loss. I’m a contr...
Julio Gonzalez
Multi-Family Properties and How to Maximize Returns
Passive Activity Loss Rules
If you are a real estate investor that doesn’t qualify for REPS status (discussed in #5 below), understanding the Passive Activity Loss rules is crucial. Passive activity losses are those ...
Hassan Oukacha
Rental property tax deduction
I'm filing my 2017 tax as married jointly. I have 2 rental properties that are both making losses for 2017 due to deduction and cost of acquisition + rehab; we acquired both of them last year. I am using TurboTax to f...
Account Closed
gain/loss on sale of rental property
In 2007 I bought a condo for $190k. In 2013 I moved and converted it to a rental as I was too far underwater to sell. The market value at that time was 70k (basis for depreciation). I've taken about $8,000 in depre...
David Lao
Depreciation to offset W2 income
This is a hypothetical situation. Billy has a day job earning $100,000 per year in California. He wants to build a real estate empire in his local market as the king of residential real estate (1-4 units). What value ...
Asim G.
Using passive losses from syndication (K-1) to offset income from other SFR rentals
Hello,Can I use bonus depreciation losses from apartment syndication (form K1) to offset income from income-producing single-family rentals? I own 4 SFRs and have an opportunity to invest in a syndication deal with 60...
Account Closed
Capital Stack
Real Estate Capital StackI am often amazed at how many time I use the term “Capital Stack” only to have someone stop me and ask me to explain what I mean, so I thought I would take a few minutes to explain why this is...
John Richards
sold rental in Jan 2017 - taxes?
Hello to all. First, a little background............I live in ID and this past Jan (2017) I sold an income rental property that was located in NV. I originally bought the house in Oct.2008 and paid cash ($98k), in ful...