This will be the first year that I get any tax benefits for the work I have done on my first rental, and I wanted to understand the very basics/fundamentals to determine how much I might get back. In my profit/loss st...

I am hoping a foreign real estate tax expert can help me on the top of foreign mortgage tax payoff gains, also known as section 988 of the tax code.I purchased an investment property in Canada in 2013, and financed th...

Hi, my husband and I are 2 members of an LLC (treated as a partnership).  We decided that it's easier to buy a rental property using cash instead of trying to find a mortgage under the LLC name.  We have some cash sav...

My LLC is registered with the state, the finances are set and we are looking for our first property. We must first however get our Operating Agreement set. We have actually agreed on everything thus far. There is o...

Hi All,I am looking for an experienced tax CPA in Charlotte, NC area. I have questions around taxes for new construction that I will be selling soon. I have searched through BP but still not confident on what I need t...

The tax benefits of bonus depreciation can lead to massive savings but losses won’t help one bit if you can’t use them.
Before you buy a cost seg, you need to know the rules:
Tax all starts with the types of income....

I invested in several trust deeds back in the 2005 -2006 time frame. Unfortunately, several of the trust deeds were ultimately foreclosed on. However, there is one trust deed loan that hasn't performed in years, but t...

When house is sold, does IRS tax BOTH reclaimed depreciation and capital gains? We have a small house in FL that we built in 1978 and rented out ever since. It is fully depreciated, and is in very rough shape. We've b...

Hey guys!
Long time listener, first time caller!

I have a tax/capital gains/ insurance settlement question:

I bought a duplex 3.5 years ago with a conventional mortgage. Owner occupied one side, rented out the othe...

I converted a property from a primary residence to a rental located in California in 2022. The date of conversion is 5/29/22 which reflects the first day it was advertised online for rent. After listing for rent, I st...