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 $...
Lawrence L.
House hacking my CPA says don't claim rental income
I have a one family house renting out the top living in the basement. My CPA says when I file I should not file showing the rental income because if I want to sell then I will not get the 250,000 tax free allowance. I...
Philip Sriployrung
Bonus Depreciation - Schedule E vs C
Hi everyone,I'm using a FreeTaxUSA to file my taxes. I currently own one rental SFR, purchased May of 2018. I did an online cost segregation study through KBKG. I was able to break out my depreciation based on the 5/1...
Rashid S.
Unsold property expenses - put on personal 1040 or under business
Hi Guys,I am not looking for a CPA level advice but just looking to know the basics to vet out CPAs when i go talk to them.I started in real estate last year. first property i bought at auction with cash was under my ...
Richard Rountree
equity Breakdown
I understand each deal is negotiable. However what should be my standard percentage if I am a realtor that finds a deal, close it, make sure all the paperwork is taking care of and EVERYTHING runs smooth on a rehab a...
Bette Hochberger
Cost Segregation Benefits for Real Estate Investors
Let's chat! How have you leveraged cost segregation studies to accelerate depreciation and increase cash flow on your real estate investments?
Mark Saenz
Sell your houses faster
Hey BPers,
Here is a little tip to help sell your houses faster (I did this on Monday and it reminded me to post this method):
TIP: Make sure you are scheduling multiple people at one time to go see the house you ar...
VICTORIA LEONE
Is Renovation Travel Deductible?
Renovating a house I bought in another state over several yrs, and they were hoarders. Little by little I travel there to empty it out and repair it with the intention of eventually selling it. Are the travel expenses...
Pat Opiola
reporting sale of flips to irs
I bought a flip for 60k i sold it for 95k 5 months later the rehab and holding costs were 9k, where do i show the profit? on a schedule D? thanks, also My friend and I bought a property together, we rent it out, do we...
Seattle Matt
Capital Gains Taxes Above 250k
So I'm about to sell my primary residence, if the profit is roughly 450,000, and I am eligible for $250,000 capital gains exemption, it means that I will be paying capital gains on the remaining $200,000.My question i...