Hi Guys, quick question. So I'm looking to sell a condo I've only had for about 10 months. Going to use some numbers for examples with my questions at the end100k purchase price 20% down 80k equity in itclosing costs...
I converted my primary residence to rental in Dec 2014. In Oct 2017, the tenant agreed to purchase the home. Although I sold the home at a significant loss, I'll actually end up with a gain due to depreciation recapt...
Is there a limit on the amount of expences a landlord can deduct from taxes per year? Such as replacing things that are coming up due, such as floors, siding, and windows?
Thanks for any advice. I know tax laws are changing right now, so I am unsure how much of a burden capital gains tax is going to be in 2013.
We are planning to sell a downtown condo that we own, that was our residenc...
Hi Everyone,
I am just starting out and looking for a rental property. So, I have lots of questions, especially about depreciation. I'd like to evaluate how it affects the tax consequence when I sell it some day....
Hey all,I recently sold a home in 2016. Unfortunately for reasons I don't want to get into, I couldn't do a 1031 exchange. So I had some capital gains plus depreciation recapture. So I know i'm due for some taxes o...
Hey All,I'm new to the investing world so my question stems from the effect of depreciation expense on my EBIT line for potential properties. More often then not, building in a depreciation expense sends my EBIT negat...
Hello,
I just bought a property for 160k in 2022, spent roughly 40k on it, and sold it for roughly 210k in 2023.
I'm confident I will be able to figure out how to write off the 40k on my 2022 tax return. I think I ...
We did a 1031 exchange in 2020 where we exchanged a smaller, older house we bought in 2010 for a much larger, newer house. The exchange went well. When we did the exchange, we took out $25k knowing we would be taxed...
Hello, I'm new on the forum, so not sure if this is the right place to post this. I have an LLC that I'm looking to purchase some real estate with, but I might finance the real estate with some money that I currently ...