Snehal Ambare
Primary Residence converted to Rental - Capital Loss
Hi! We bought our primary residence in Orlando FL in 2006 for $260,000. This year we are buying a new home and looking at potential to convert our current home to rental property. Would we be eligible to get tax break...
Stacy Tring
Depreciation recapture rate + offset from capital losses
Hi all,Spent all morning trying to research this and get conflicting answers, so let's try the BP hivemind.1) Is depreciation recapture ALWAYS taxed at 25%, or is it taxed at your ordinary income rate UP TO 25%? I've ...
Roy Mitle
confused about depreciation
For example: you buy a rental property for $100k.$40k attributable to land and $60k to building.You sell it 5 years later for $150k.You'll need to take $2,182/year for depreciation (see MARCS 27.5y table), so that's $...
Tony Mayo
Using prior Capital losses against this year’s profit
I have a few properties that have carried capital losses (i was not able to take a loss because i am not a real estate professional and I make to much other income)
I am now starting to realize gains on these propert...
Patty Puckett
LLC Loss - How to take the loss? One year or spread out on taxes?
Our LLC bought a Multifamily zoned property to build a subdivision. We spent about $100,000 with all the costs to get to the PUD Tentative map stage. We decided because of health issues not to build and to sell. The...
Joe Rest
Total recapture depreciation when selling an house
I am trying to figure it out how to identify the total recaptured depreciation to report for tax purpose as result of the sale of rental property. The first realization is that this is a TOTAL recapture depreciation ...
David Anderson
Ways to minimize capital gains tax after flip
We have a LLC that just closed on a flip where we made short term capital gains on. We decided not to do a 1031 exchange, but are looking for ways to minimize the taxed amount. Under this LLC we also have rental prope...
Jack Cod
Oppty Zones recycling Capital Gains separate from Losses?
Everyone knows that Capital Gains can be put into Opportunity Zone Funds to defer taxation for 7 years.But what about if you have a mix of gains and losses -- can you elect to treat the gains as gains and invest in OZ...
Marcus Welson
Capital Gains offset by loss on assigned debt
Hello fellow posters. I have an unplanned capital gain over several decades due to a property interest I inherited. I also have the opportunity to be assigned a debt owed to a professional services company. It is like...
Ryan Rudloff
When Appraisal Fees Are Deductable
Hi, I’m in a position where I’m considering a cash-flowing industrial property as an owner occupied investment. The owner wants a portion of the earnest money deemed non-refundable. ($15k)My question is as follows:If ...