Patricia Saltzman
Tax implications to convert LTR to STR mid year?
We converted a LTR into a STR September 1, 2022.Of course i've waited to the last minute to complete my taxes and am struggling with this.I have completed my taxes for 20+ years using Turbotax - but this is a little c...
Cathy McNair
1031 transactions relative to moving to Canada - tax implications
I am a dual citizen and currently a long-time U.S. resident, but moving back to Canada this year. I would like to do a 1031 exchange of one U.S. rental property into another U.S. rental property of slightly lesser va...
Luke Moore
Tax implications of seller financing properties and business structure
I was listening to a podcast this morning and the hosts were discussing the origination of a seller financed loan on property that they own to either hold or sell as a performing note. I have a rental property that ha...
Jaime Navarro
Taxes implications for buyers and seller on finance deals!?
Taxes implications for buyers and seller on Seller finance deals!?I’m working on a seller finance deal and have some questions on Taxes.Seller: Family member Seller’s Purchase price in 2009: $180,000Property owned fre...
Lance Luvaul
tax implications of nonresident holding property in series LLC?
"With regards to Nonresidents of the United States, it is not wise to believe the LLC is generally the best solution for your business needs, as there may be self employment taxes and estate taxes involved that could ...
Eric Bailyn
Gifting Single Family Residence to Son: Any tax implications?
Hi Everyone!
My mother would like to gift her $850K house (100% owned; no loan) to my wife & me. At the same time, my wife & I would sell our $1.5M house ($1.4M is equity), and use the proceeds to 1) transfer...
Yuriy Skripnichenko
S-corp as a Trust Beneficiary and tax implication
I have two questions that I cannot find definitive answer to. If you have similar structure or a professional and know how it works, please explain.I have a property in Trust. The trust’s beneficiary is an S-corp owne...
John W.
Tax Implications Question: Selling property at end of year
Closing is scheduled for 12/29 for the sale of one of my properties. Would I have to pay capital gains in 2017 regardless of when I deposit the cashier's check?
Annette Wanamaker
Tax Implications - Using Flip Profits to pay down HELOC
Hello, BP land!I've just purchased my first long term rental and am looking at next steps. I used a HELOC on my primary home to finance the down payment for this first property. I am considering a fix-n-flip next to...
Mike Rodrigues
Tax Implications for Renting out Rooms in Primary Residence
Hi guys, I have searched the internet far and wide, but still have some questions/concerns for filing my taxes this year.
Basically, I own a 3br 2.5Ba townhome that i purchases for 140k with 40k down, my total paymen...