Nolan M.
Tax benefits of selling a rental property at a loss?
I found a seller who may want to sell my their rental property. They bought it 11 years ago for 87k and I want to buy it for 75k. Will the seller have any tax benefits from this sale? TIA
Jim Sheppard
Manufacured Home Depreciation/Tax Deduction?
My wife and I purchased a manufactured (mobile) home when we first married in 1991. We will be purchasing a new one to be placed on the same lot in a community (chattel) in the next few months. We paid $30K, and the n...
Richard Tyler
paying taxes in real estate capital gains in another state
Hi everyone. I live in California. I just sold a vacant lot in Oregon that I had owned for 2 years. I made about $20k in profit in long term capital gains. On my 1040 form, I have about $30k to write off for my lo...
Earl Stewart Jr
S-corp tax filing for uber and flipping house(3 years held)
I have a single member LLC that is taxed as a S-Corp in which I flip homes and drive for Uber. I purchased a property in 2017 and finally sold it in 2020. I sold it for less than what I bought it for. I have filed the...
Carter Lance
Flip Income reported on 1065
What is the correct way to report income generated from the sale of a flip home reported on a partnership 1065 return? Since the gains are short term capital gains and will be treated as ordinary income, should the sa...
Tiia Hyrske
REIT Loan @ 12% Guaranteed - 1 Year
Investment Info:
Other private money loan investment.
Cash invested: $50,000
REIT Loan @ 12%
James Sun
Partnership Interest Sale Capital Gain-Offset with Passive Loss?
One of my investments went full cycle, but the sponsor sold the partnership interest in the properties instead of the property itself. As a result, the gain is reported on Box 9a (Net long-term capital gain) instead ...
Wei Xie
Can I offset capital gain with rental operating loss?
Dear fellow BPers,
I am wondering if I can use accumulated rental operating loss to offset capital gains:
1. Gains from sales of rental properties, either related to the operating loss or not.
2. Gains from sales ...
Rick Im
Do these expenses qualify for start-up expenses?
Hello,
I purchased my first rental property on October 4th. After a month of renovations, I listed it on the market on November 19th and secured a tenant with a lease starting on December 10th. Before this purchase, ...
Serdar C.
peerstreet vs FTF vs patch of land (POL) returns
I think it will be very beneficial for everybody if everyone shares their annualized returns and capital losses if there was any and the percentage loss. Peerstreet publishes their stat to great extent, but not Fund t...