Costin I.
How is rental income taxed?
In my planning for retirement, I estimate my family annual expenses to be about 100K. I want to know how much do I need to clear in rental income to be able to cover that.
Obviously, the depreciation should make the ...
Anthony Zotto
Election results and impact on real estate investing
I was just wondering everyone's thoughts on how the outcome of the election will impact small multifamily real estate?
Thanks!
AZ
Po Hsiao
Can i switch from active participation to not active
I have read a lot about advantage of claim "active participation", but no article about any pros on NOT claiming active participation.
I have placed a couple of properties in service in 2019 and will have a loss that...
Po Hsiao
Can i switch from active participation to not active
I have read a lot about advantage of claim "active participation", but no article about any pros on NOT claiming active participation.I have placed a couple of properties in service in 2019 and will have a loss that c...
Bernard Sanga
Property tax write offs - need help
I bought my primary residence last year and was not able to take any deductions. My accountant says going for itemized deductions did not make sense in my case because I will get a higher deduction on standardized. I ...
Simon S Marthinsen
Tax Implications of Using Family Members HELOC to buy property.
I'm buying a commercial property with my business partner using his parent's HELOC as short-term financing. The purchase price is $230k. The heloc is 4.25%. We are paying interest only. What are the tax implications f...
Account Closed
tax refund on rentals claim losses? confused?
Ok quick question regarding taxes. I purchased my first rental and on my earned income i make under 25k a year as a server (don't claim enough tips), basically I am looking at purchasing Albert Aiello's tax software, ...
Alexander Sergov
House Passes bill Hiking Taxes for homeowners
Congressional tax reform bills. Today, the House passed a bill that would reduce the value of the mortgage interest deduction, eliminate the deduction for state and local taxes, and cap the property tax deduction — in...
Robert Jordan
Mortgage Interest Deduction
Hi all. I’m a prospective buyer located in Chicago looking to purchase a 2/1 condo and rent out the second room to a friend. I’ll be able to put 10% down on a roughly $350,000 unit, and will be using this opportunity ...
Account Closed
Do we really get tax benefit for rental property?
Lets assume a Scenario: A new investor who invests $150K on a first rental property. No other retal or home mortgages.
IRS: US govt already allows a "Standard Deduction" of S24,400 (Married joint filing). The other o...