Scott MacCabee
New to Tax lien investing have questions about Crook County IL.
I have questions about tax lien investing in IL and in general maybe someone can help:
1) When you win a tax cert, when is the interest paid out to you? Does the interest incur per month, 6 months, daily? If someone...
Peter Morgan
Is it possible to carry over bonus depreciation to next year?
Hi,I am considering a syndication investment with 80% bonus depreciation on the first year.However as I understand the depreciation has tax advantages over passive income only but not on regular W2 income.Had passive ...
Ken Hipp
Are all reno costs part of the initial cost basis?
I bought a foreclosure(3 plex) in Feb. $55,000. Renovated ($30,000) til May 1st when I rented it out. Are all reno costs part of the initial cost basis? I also did another $20,000 in siding, windows and roofing durin...
Michael Ndjondo makadi
Can trip expenses to go buy a first house be tax deductible?
Good evening to all.I am just getting started in my RE investment journey and after long thoughts I have finally decided to invest in Wichita, KS even if I live in San Diego. I have lived there for a couple of years a...
Derek Smith
Business Expenses - Can we write off prior to LLC?
Recently my girlfriend and I have been remodeling her house, some changes were required (repairs) while others were more cosmetic (general updates). Once finished we will list it as a rental, in a couple months, but w...
Rick Jones
Property not "in service" in '16. Can I expense taxes & interest?
I know that this can be done but not sure how how to do it. I want to write off property taxes and mortgage interest paid for property purchased in 11/16. Its still undergoing a rehab so its not "rent ready" yet. I kn...
James Sedano
IRA withdrawal to fund investment properties, can a cost seg help to reduce tax bill?
Hi all,
As titled.. I did a IRA withdrawal of 300k to buy 2 condos in May/June 2024.
I didn’t paid the 10% penalty fee.
I’m not currently working so my income is basically the 300k + (28k gross or 15k net) from a...
Ed Kelly
Security Deposit in Ohio
Hello,
My tenants surprised me and announced they bought a house while they had 8 months left on their lease. I moved very fast and got the house rented within 3 weeks. However, I was not planning on having to do t...
Alex Martinez
I need advice with an exit strategy
Good afternoon, I need advice with an exit strategy. I have a partner/investor that is looking for a minimum of 10k return on a Flip that we just purchased and completed the rehab. Investor is willing to continue usin...
Walter Correia
How to avoid paying real estate capital gains tax?
My wife and I are planning of selling our investment property to reinvest in other properties. After we sell the property how long can we defer taxes before getting hit? I know it may take time before we can reinvest ...