How would taxes work if I receive money from a wealthy friend who isn't a "Private lender", but just someone willing to donate cash to help me with a fix and flip. What forms should be given from me to them, or them t...

Hi i bought a HOA auction house (second lien) then the first lien auction the house and i lost the money i paid for HOA auction.under what category i list that lost in my tax return? 

Hello All,I am still a relatively new buy/hold investor, but over the past 2 years I have put together a small portfolio of 13 doors.  Although I am fairly comfortable with the mechanics of buy/hold, I am still trying...

Hi! I’m newer real estate investor with aspirations to build my portfolio in a smart way. We own a single family 4 bedroom, 2.5 bath home (built 1977) in Barton Hills. It’s our primary residence but we’ve decided to n...

I'm a new real estate investor, and I found some basic tax tips, which I want to follow:
1. Depreciation - a non-cash deduction that allows me to deduct a portion of the cost of properties over their lifetime.
2. I ...

I wanted to ask a quick question to see anyone here has bought a property where the Seller is leaving money out of the deal's proceeds in the deal? I'm trying to figure out if the Seller will be taxed immediately on t...

Two questions for anyone willing to help a newbie.1) what is the point of a roth or traditional IRA if you can only add 5000 to it each year. I am 30 so that means I have 29.5 years I can add to it. If my math is corr...

I've begun researching companies that handle checkbook LLC IRAs and I received some info from the Security Trust Company stating they will charge a 2k set up fee which includes setting up the LLC and handle all other ...

Hello everyone!  My name is James (Kee June), and I'm from Los Angeles.  I've been working in the government field doing sales/marketing and promoting trades for the past 13 years.  "Rich Dad, Poor Dad" by Robert Kiyo...