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...
Frank Agyeman-Duah
One year of Rental Property Income Tax filing
I currently one year of rental income tax filing which is 2021. I'm trying to do a house hack on for another property but lender saying I need two years of rental income tax filing to be able to use income from my 4 U...
Daniel Dunnigan
LLC Tax Savings for Land with Windmill Income
Hi everyone! Looking for advice on how to save on taxes. Thanks for your help!!
Situation: Purchased a piece of land in NY this year with 3 people (Dad, Uncle, and I). We paid for the property by taking a HELOC on ...
Daniel Foster
Long Term Capital Gain vs Normal Income Tax
Below is a question I have asked my accountant, but haven't really been able to get an answer that I can comprehend. Generally I am trying to understand whether it makes sense to capture renovation costs at the sale ...
Ashley T.
STR tax deductions when there’s no rental income
We bought an STR this year but we were not able to rent it at all due to some repairs that took much longer than expected. Wondering what to expect come tax time. Will we not be able to write off any of these expenses...
Brandon P.
Out of state rental. Indiana state income tax
HiJust wondering what will happen if I don’t file state income in another state.? The rental income is likely 5-15k in Indiana ( not sure)
Mitchell Maginnis
Tax question regarding STR and W-2 income
Hi!
I am a new real estate investor. I am almost finished with a new build STR that will finish in May that I have paid all cash for. I own the land through an LLC with a partner. Since the build is not yet done, it ...
Mike Percy
Avoiding self-employment taxes on LLC rental income
Hello Bigger Pockets community,I am looking into the possibility of investing out-of-state in a buy-and-hold rental property for passive rental income. I am considering a structure of holding the title in a land trust...
Eric F.
WA -> Idaho Investing - Property & Income Tax Impact?
I live in Washington near the border to Idaho. I'm interested in investing in Idaho, but I have zero experience with Idaho taxes (or state income tax at all for that matter).Questions:I've heard that property taxes i...
Leo Kane
Clarification on Income Taxes from Rentals (from RocketMortgage?)
Hi, I found this article on Rocket Mortgage about taxation on rental income: https://www.rocketmortgage.com/learn/how-is-rental-income-ta...There is one more line at the bottom that says $174K + 37% for 578K+ for sing...