I use stessa to track my transactions both incoming and outgoing. At the end of the year there is the option to download a tax report that includes and income statement, net cash flow, and capital expenditures. I can'...

Hello BP Community,I am trying to get my P&L put together and I stumbled when trying to calculate the basis for depreciation. Purchase price = $24kRehab Cost = $24kARV= $65kMy understanding is that the basis for t...

I am trying to calculate my building basis for tax purposes.

Can I add the items under the heading "Adjustments for items unpaid by seller" on my HUD statement? Specifically, "County taxes" on line numbers 211? Thi...

Hi Real Estate Veteran,I am using turbotax to calculate depreciable basis for my rental property. After evaluating my situation, I need to add the cost of City Transfer Tax into depreciable basis. However, I don't kn...

Hello BP folks,Can anyone help me understand how to handle depreciation for real estate properties held in an opportunity zone fund? As per my understanding, the external basis of the partner in the fund is zero (assu...

i have a simple question about cash flow from rental properties and taxes. is cash flow considered income? Will i have to claim my cash flow as income and be taxed on it? 'm just a little confused about this.

Hi,I recently ( yesterday :-} ) sold my rental unit (doing a 1031x). I owned the unit for many years and the units depreciation itself was already nearing the end of the depreciation. However, the flooring was just in...

I have another question for the group. I want to know how the boot will be calculated for  buying a replacement property that  is less than the sold property. For instance, I bought a property 10 years ago for $155,00...

can someone explain how depreciation works in a nutshell, and how it helps your taxes?

We are in the process getting a house ready to sell that has been rented. Are expenses such as painting and misc other items expensed for that year or are they added to the properties tax basis when sold?