Jake Paul
Co Own - Who would be taxed on capital gains?
Sorry I am sort of new to this. Need advice!I co own my primary residence with my brother 75/25 (On title). I’ve been living there for 2 years and he lives elsewhere at his primary residence. We want to sell the prope...
Mike Rodriguez
Moving to New York, what to do?
Hi All! I'm moving to new york, however, I still have a solid salary come in from my home state texas. I want my income to be tax free from texas but live in New york, how can I do that? I read something about an 183 ...
Brady Ascheman
Untaxed Capital Gains
Hi everyone, I was listening to the bigger pockets podcast and I thought I heard Brandon Turner say that if you flip a house that you own as your primary home for two years that the gain you make on the sale is untaxe...
Kadia Lawrence
Using IRA to fund deals and offset penalties with RE tax breaks(??)
Has anyone taken their IRA to fund deals and offset the early distribution penalties (10% and tax bracket) with RE tax breaks? What kind of tax breaks helped (e.g., depreciation, real estate professional status, etc)?
Matthew Thorp
refinancing my property
I took out a 3 year loan for 200,000 dollars to purchase and renovate my 3 bed 2 bath SF with the intent to hold it for a year and sell it tax free but now am aiming towards refinancing and renting it out. The proper...
Paul F Russo
Finding “Opportunity Zones”
Opportunity Zones are providing property owners and potential property owners with outsized return potential due to the deferral (and potentIal ELIMINATION) of capital gains.
What sites or sources are you using to f...
JoAnn Dorio
Tax benefits for state College 529 program
How much state tax benefit would I get by putting money into the 529 program now and taking it out for August? I just don't want to tie up money for a small amount.
Tony N.
RE Attorneys or CPAs that can help me understand my 1031 options
Hello all - this is my first BP post.I have a single family that is zoned for multi. I'm just completing work on adding a suite in the basement and a few other upgrades to force appreciation. I've only owned the home ...
Michael John
Sell or hold? Sec 121 exemption window closing soon!
Two-family home in HCOL area worth $1M
$500K owed on mortgage
$3500/mo PITI
$6000/mo rental income
Have opportunity to sell now; unit 1 would be exempt from capital gains tax via sec 121 exemption (lived in 2 of ...
Don DeMarco
My first Note purchase
As a Note buyer, I purchased a small pool of non performing notes from a hedge fund, I was able to get a DIL within the first 30 days from one of them. I purchased this asset for 18,000 with a FMV of 42,000, I then t...