Andrew Namkoong
Depreciation Basis for BRRRR property
Hi everyone,I am trying to figure out what the depreciation basis will be for the property that I will be closing in two weeks.I am buying a property with full cash, doing some minor exterior rehabs (place is already ...
Jared Mcgrew
Purchasing 2 properties for lump sum. How to divide mortgages.
We are hoping to close on two single family residences that will be purchased from the same owner. We have offered one lump sum to the owner, but need advice on how we should split the loan amounts.
Details:
-We wil...
Jessica Seppo
Tax question on selling previous primary residence
Hello All,My husband and I go back and forth about selling our previous primary residence depending on the market come July 2021. We lived in it for two years and once the current tenants lease is up in June 2021 we m...
Theodore Smith
STR Business Sch E & Sch C questions
Looking for some insight, and I realize this may be a bit complicated for this forum, but as I am not a tax professional it may be an easy answer as well. Some basics…
My wife and I own a property with 3 STR on the ...
JP Krueger
Question: 1031 exchange
Can you like-kind exchange a 3 family the owner is living in to a 2 family that the owner will live in?
Juan Rodriguez
House Hack Form 8829
Hello everyone,I’ve been lurking the forums for some time and using the search bar to find this but to no avail.
It’s a house hacking tax question.
Anyway, a bit of background on my particular scenario: I bought my ...
Anthony Markey
Saving For Down Payment on First Home Roth IRA vs Taxable Account
Hello everyone,I am in the process of saving for a down payment on my first investment property and am looking for some advice. Some background on my personal finances I contribute the maximum amount that my employer ...
Braath Waate
Assigning 1031 basis in a subdivided property used as a home
25 years ago I bought an income producing farm with land and a house. I used a 1031 exchange from another business property to pay for it partially. I lived in the house.Skip ahead to today. I subdivided the house ...
Gregory Tam
Looking for Help Entering Real Estate
Hello Bigger Pockets Forums,This is my first post to bigger pockets so please bear with me. I’ll start with a quick introduction.My name is Gregory Tam and I am a 23 year old recent college graduate. During my time in...
Costin I.
What should one use for the home basis value in a CSS?
My understanding in this matter, there are several options for selecting the home basis for a cost segregation study:
A. Property appraisal (if you have one).B. Tax Assessment – tax assessment for the property in que...