James K.
Looking for CPA advice, concerning tax implications with Airbnb
Hello BP friends! This is my first post on Bigger Pockets and I can say this has been an awesome resource already. I can't wait to be a bigger part of this online community!I'm thinking of buying a duplex and living...
Olivia Piper
Tax implications of roof replacement due to hail damage
I'm trying to figure out how I should report the roof replacement in one of my rental homes due to hail damage on Schedule E. The rental home was purchased in May 2017 and the previous roof had half of its usage life ...
Jacob Michaels
Buying seller finance deal and tax implications for inheritance
Hello all,
I'm talking with a seller who is fairly motivated as she is quite elderly (even has a great great grandson). She owns a few properties, each worth about $100,000 and is thinking of selling them. Sh...
Account Closed
Cash back at closing paid to contractor. Tax implications?
I recently purchased a home that appraised for $135k. I was under contract at $115k when the inspection report came back indicating it needed a brand new roof. I walked away. However, the other agent came back and off...
Peter Amico
Tax implications of being finance partner on house flip
Hi all.
I am in the process of flipping a house with a partner. I paid for the house and he does the repairs and pays for the rehab. Then we split the profits. My question is how I should be taxed on the profits and h...
Mark Schumacher
Cash Out Refi into a Syndication and Tax Implications
If I do a cash out refi on an investment property and use the funds to invest in a syndication (investing in apartments, mobile homes, storage etc ) is the interest portion of the cash out refinance tax deductible? Is...
Nik Divakaruni
Seller-Financed Note Tax Implications...and Portland, OR CPA?
Hello, I've searched a few of the threads in here, but I haven't quite found anything to answer my question fully. So, I'd like to propose a scenario here:Property purchased for $1,000,000. $50,000 in depreciation t...
JD Martin
Tax implications for seller financing to my current tenant
Good afternoon all!
One of my tenants that I've had for several years is interested in purchasing the home that he's currently living in (he's rented two different homes from me). They've been good tenants but don't ...
Natasha Rooney
Tax Implications for CANADIAN investing in US real estate
Hello! I can't seem to find straight answers anywhere (totally could be looking in the wrong spots - I'm new to this!) What are the tax implications for a Canadian investing in US real estate? My husband and I are Can...
Sheena Varghese
Flip taking longer than a year and tax implications
Hello,My current flip will take longer than a year, about 18 months. Can I still deduct all renovation costs from the profit in regards to paying taxes on the profit. I have all cash in the property and for renovati...