Brian Levredge
1031 with a twist.....
I'm thinking about moving in a few years. I would like to sell a couple of my investment properties and 1031 into a new house. I would in turn rent this house out for a minimum of one year and a day at market rates ...
Daniel Scott
Capital gain tax on investment property
I have a rental townhouse that we wish to sell when the current lease is up, in about a year. We owe around $100k and its valued at roughly $185k.My question is how will I be taxed due to the capital gain if I do a c...
Becca Pearson
First time selling a nonconforming triplex - help!
We’ve been renting out a single family home for the last year that is renovated to be a triplex. We’ve made a great return so far but the city has asked us to move back in to continue renting out the ADUs, so we’re op...
Kenny Tran
Possible to lower tax bill?
Hi everyone, I recently sold a house and made 80k net profit. Can I defer paying taxes on the 80k if I bought an investment property with the earnings? I currently am in the process of buying 2 properties and putting ...
Kevin Tillery
CASH OUT OR RATE AND TERM WITH LATE PAYMENTS?
Long story short, I made an error in respects to an IR. Thought payments were prepaid for 3 months. Right before the virus madness, the lender I was in the process of refinancing with denied the loan because there wer...
Chris Arce
Just opened an LLC to flip my first house
Hi everyone!Just closed my first flip!Me and my partner created an LLC and purchased it in that name.How will I file my taxes if we make money on this first flip? Is it the regular way I always file my taxes as ordina...
Ed Chandler
My tax guy messed up. Now what do I do!?!
Hey there BP, I need some advice! After recently reading the book on tax strategies for the savvy real estate investor, I decided to review my past returns. Guess what! My taxes are all messed up! The good news is ...
Maggie W.
Forgot to enter $4k in HOA fee expenses last year. Should I amend or lay low?
For some reason, the $4k in HOA fees I write off every year are not on the 2021 return, as I'm reviewing them and doing 2022. It appears to signify $800 additional taxes out of my pocket for 2021. So which is a bigger...
Nicholas Libertin
Help....accountant recommendations for real estate professional
Looking for accountant recommendations. I have a high W2 income and my wife will be a real estate professional this year. Looking for an accountant who has intimate knowledge of:1.how to best offset my W2 income2.ho...
Jason Watson
Grouping Passive Activities
Along with Material Participation as a Real Estate Professional, you might also want to consider grouping your activities together. So a common question that I get is-
Do I need to group my rental activities together...