Kin Lay
How to transfer my share of the house to my brother?
My mother purchased a property on 2011 for 480000 in California. The current price of the house is worth about $900000. The house is registered with my name and my younger brother’s name as joint tenant. If I want to ...
Esther Rosenberg
North Carolina Rentals- Liability Insurance Coverage including Pet Coverage
Hey,My rental property is in North Carolina (Wilmington).It is time for me to renew my homeowner's and liability insurance policies. My current liability policy is with USLIC. On the renewal policy, it lists a couple ...
CJ S.
Selling former 20+ year residence after conversion to rental
We are considering converting our residence we have owned over 20 years to a rental. Would that forever eliminate the opportunity to take the capital gains exclusion if we sell in the future? Does the number of years ...
Stinson McElhinney
Trying to analyse selling of home for purchase of investment property
Hello, looking for guidance on my particular situation.I have a well done, fully remodelled home in Carlsbad, CA in a very desireable neighborhood. It was my primary residence before I took an overseas assignment and...
Bob Willis
Use of property purchased using 1031 funds
Hey All - I currently live in Nebraska. I own a couple of properties in Arizona that were purchased using 1031 funds and are being used as rentals (one LTR, one STR). I have held both for a number of years. My wife an...
Will B.
Taxation of Unrecaptured Section 1250 Gains
Hello!Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciatio...
Dirk S.
Tax implications on sale of principal residence
Hi
I own and lived in my principal residence for over 20 years and a significant capital gains.
1 If I sell my principal residence I pay no tax on the first $250k of capital gains (filing single), but if I have ad...
John Oliver
LLC for business & interest deduction + residence?
I have some questions regarding the purchase of a personal residence, potentially via an LLC (state of CA). The following describes the scenario and goals (which are somewhat unique). The names and amounts are fiction...
Andy Zohoury
Non-Exclusive Comcast Agreement Fee
Hello! I have a question about what is an appropriate agreement fee for a utility provider, such as Comcast, to bring their services to a property? For some background, we own a Class A complex of 36 townhomes in Atla...
Kyle Wifler
LLC - Multiple Agents
Hello,
My friend and I are looking at purchasing a multi-unit property under an LLC. We both have real estate agents. Is it possible for both agents to represent us under the LLC? We've both signed Agent Excl...