Derek Luttrell
What do you actually end up paying in taxes?
Hi All,I am under contract on my 3rd acquisition in 2018, so I have yet to actually file a tax return with rental income on it. Is there a general rule of thumb for how much you actually pay in rental income tax after...
Cristin Andrews
IRS recognized real estate professional while drawing pension?
Hello - newbie here,I'm a single high income earner so have very limited tax benefits for real estate investing and know that I cannot become an IRS recognized real estate professional while I have my W2 job. I plan t...
Mindy Jensen
New Book!!! Tax Strategies for the Savvy Real Estate Investor
BiggerPockets is excited to introduce its newest book, The Book on Tax Strategies for the Savvy Real Estate Investor! Taxes! Boring and irritating, right?Perhaps. But if you want to succeed in real estate, your tax st...
Eric Suess
rental tax deductions carried over to other 1099 income?
Hi BP - My primary job is 1099 income from working as an independent contractor (healthcare). I have been reading about carrying over tax deductions that exceed income on a rental to other rentals or to the next year....
George P.
offset rental income with rental loss ?
trying to find the answer but cannot find anything useful.... * I have a rental property that produces 7k rental income/yr.* I want buy a (vacation) rental property that will produce 9k of rental loss/yr.* our MAGI ex...
James Sedano
IRA withdrawal to fund investment properties, can a cost seg help to reduce tax bill?
Hi all,
As titled.. I did a IRA withdrawal of 300k to buy 2 condos in May/June 2024.
I didn’t paid the 10% penalty fee.
I’m not currently working so my income is basically the 300k + (28k gross or 15k net) from a...
Scott Trench
Cryptocurrency Taxes Example - Double Whammy?
I have a question about cryptocurrency and tax implications.
Suppose I am paid $10,000 for a job or service I perform and receive the amount in Bitcoin.
I understand that I need to treat the $10,000 in bitcoin as ...
Isaiah Tademy
Real Estate Professional Status & Taking Losses Against Full Time Income
Hello BP Community,I'm a bit stumped. I've talked to several investors and my CPA and am getting different answers. I am a full time insurance agent with a relatively high income, and my wife got her real estate licen...
Matt Bode
First Property Depreciation Question
I'm about to put my primary home up for rent and purchase a new primary. I own about 70% of the home. Question and I can't find a straight answer anywhere.Depreciation on the rental- I realize its over 27.5 years- is ...
Omar Johnson
Loss Mitigation Alternatives
With historically high rates of default on home mortgages lenders are facing many more foreclosures than they have in the past. This allows for short sale investors and pre-foreclosure specialists to thrive in the cur...