Kurt Granroth
Dissecting and Understanding a Schedule K-1
I just got my first K-1 from a multi-family syndication and want to understand it. This is the actual K-1 with real numbers and only personally identifying elements have been removed. I'm going to describe what I th...
Casey Gilbert
Tax liability on total loss insurance payout
We lost our STR this spring due to a wildfire. Our insurance (replacement policy) has paid out the cost to rebuild which our mortgage company is holding. Every cent of this insurance payout will be going to rebuild th...
Abdul Aziz Tambadou
High Property Taxes in Detroit 48228 - Seeking Veteran Investor Advice
Hello Fellow Investors,
I have a concerning situation with my Detroit property (48228) and could use some guidance from experienced local investors. Here are the details:
- Property value: $70K
- Square footage: ...
Merrill Delimont
Reinvest my monthly rental income to avoid claiming it on taxes
I have recently bought 1 property, and am in the process of buying the second one. The first home collected rent December 1, and I earned 500 over what I owe. My second property should make 700 each month. My plan ...
Account Closed
Texas property tax question
Hi all, I am a newbie here working on 2.3m deal in Houston. The listing is completely off market and seller financing. The current property appraised value is 1.1 m and I am buying it for 2m because of great cash flow...
Wendy Cheng
Depreciation (capital cost allowance) on rental property
Looking for some advice... I am purchasing my first rental property, a triplex. I would like to know if there is anyone doing depreciation on the rental property? I know that CCA deduction claimed will become taxable ...
Jarett Tigges
Question on Gift Tax
Hi BP community,Does gifting money reduce your taxable income? I know the limit is $15,000 for tax free gift, but does it reduce the gifter's income for that year? Say you make $90,000 and you want to find someway to ...
Olga Andrukh
Assessment- how does it relate to taxes
Hello all!I am looking to buy my first multi family but need to make sure I understand my monthly payments to find the best deal. Unfortunately this includes figuring out taxes. I am trying to wrap my head around asse...
Jason Miller
Rental deductions & W2 income
My wife and I own 3 rental properties and our primary house. We both have W2 jobs and gross about $130k together. We are not real estate professionals. My CPA says it’s best for us to take the standard deduction despi...
Jeremiah Purdum
cash flow to taxable income ratio
Doing some year end math and I'm looking back across the last few years. On a SFH the second year the cash flow to taxable income on my sch E was .39. It jumped to .81 and .84 the next two years (if I did my quick cal...