Account Closed
Investing in too many different states?
Does anyone have any recommendations in the number of different states one should invest in? I know someone who has a "property in this state and a property in that state" and he doesn't mind because "the numbers mak...
Paul Winka
Refund of 8% Maryland withholding for non-residents?
Can't believe there was nothing on BP about this -- how do I get this withholding amount refunded to me? Quick back story is I am a Missouri resident that sold a Maryland property in June 2023, I've e-filed my federal...
Jan Erik Neun
Colorado tax return required if LLC already paid the taxes?
I have a K-1 (Form 1065) from a Colorado LLC. Attached to it is the Colorado K-1 equivalent (Form 106) showing the corporation paid the taxes for me on my income in the state (I am a non-resident). This is my only i...
Elsa Liu
Can Section 121 be claimed every year between husband and wife?
Question about the Section 121 Exclusion, the “Capital Gains Exclusion”. $250k limit for single and $500k for married. We are married but can we be treated as single? All our properties qualify for the “two out of fiv...
Cameron Lee Brown
Need advice on filing K-1 for non-state resident
I am a Tennessee resident and have invested in a syndication of a multifamily property located in North Carolina as a limited partner. The LLC that bought the property is incorporated in Arizona. I received an Arizona...
Aaron Moayed
Out-of-State Income Taxation (CA residents - IN investor)
Hello,Would I be double-taxed on income tax if I invest in Indiana as a CA resident? Does this happen at all (in any state-to-state taxing), or are there always credits (i.e., paying Income Tax in only one state)?
Gwen Harvey
Purchasing Primary Home vs Investment Properties
I am close to retirement age and after a divorce several years ago I want purchase another home. I also want to purchase investment properties to support my retirement. Which should I do first? Also when purchasing i...
Derek Buehner
Qualifying for a second mortgage with a STR
What should I expect when applying for a second conventional loan to purchase a primary residence, considering that I have an existing short-term rental property with a year of history and an average monthly profit of...
Account Closed
Title transfer to child and capital gains tax question
I purchased a condo 2 years ago for 50K. My daugter has been living there ever since (so 2 year residency requirement has been met)Now the property is worth about 70K. I would like to transfer the title to my daughter...
Zocky Zhang
Sold my house profit tax reporting
Me and my wife bought a house in Philadelphia in 2016 when we were renting a condo in Maryland. We managed to sell the house in 2019, then immediately used part of the proceed as down payment for our new house in Ma...