David R.
Tax Implications after adding 3 units.
Hello everyone. Looking for a little guidance on my property in Los Angeles.My long time CPA has passed away and we are looking for some guidance. We finished construction of 3 additional units on a property with a du...
Tyler Melso
Deducting new appliances - Owner occupied duplex
This is my first year filing taxes as a home owner since my wife and I bought our first duplex in 2018. We owner occupy one of the units and rent out the other. I've been reading a lot about how to deduct all of our e...
Kevin Drouillard
squatter set fire to home and caused extensive damage and I’m unsure how to proceed
I recently had a squatter set fire to one of my single family rentals in Kansas City, (“East Community Team South” neighborhood). The incident was an angry response on their part because I had the property manager boa...
Heather K.
homeowners insuance on duplex
Hello all,I am purchasing a duplex in Minnesota for $90k and the appraisal value is $100k. I'm working on getting insurance but the companies I've called want to insure it for the replacement cost of $340k. I really...
Aaron Moayed
Depreciation & Interest Passive Activities?
If you have depreciation and interest deductions that can’t be used (say your before tax income is only $200, and your int/dep deductions are $5,000), are those unused deductions passive activity losses that are carri...
Hubert Chen
Strategy for offseting passive rental losses for my active flips?
I am a full-time flipper. My wife and I just started acquiring rental properties and I want to offset the passive rental loses against my active flip income. I thought I just had to have 750 hours in my real estate pr...
Sarah London
Seller financing, analyze this deal
List Price $185KSeller wants to finance w/ only 10% down. 10 year amortization schedule and a 5 year payout at 4%.The down payment is great but w/ a 10 year amort. schedule the monthly payment is thru the roof ($1686)...
Khushi Bahut
Taxes when selling rental that was primary section 121
Hi - I converted a primary residence (primary from 2014 to 2018) in 2018 and currently renting. My tenant is leaving and at crossroads trying to figure out if I continue to rent or sell both given the current real est...
Lance Lvovsky
BREAKING NEWS: Additional Tax Relief for Hurricane Victims
A bill passed the House yesterday that would grant additional relief on top of what the IRS granted immediately after Hurricanes Harvey, Irma, and Maria. As some of you know, immediately after the Hurricanes, the IRS ...
Brody Veilleux
Loss Harvesting in Real Estate
I’m aware of loss harvesting when it comes to stocks, bonds, etf’s, etc. but how can this occur with real estate? Can I sell a capital loss on my stocks to offset rental income? I’m very interested in how this all tie...