Kenzie McIlvoy
Is there a need to do a 1031 if we’ve lived in the property?
My husband and I have a house that we were residents of for 2 out of the past 5 years. We know that if we sell we will avoid capital gains taxes but is there other legal issues we’d be benefiting from by still doing a...
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Who knows the answer?
:superman:
What benefit would someone gain by donating their house as opposed to selling it?
Curt Smith
filing taxes on a note that I foreclosed on AND got the property back a low FMV.
I did search BP on this topic. Apologies if I missed a thread! I am almost an expert in RE taxes and self file. Just currious re any unforeseen issues with foreclosing the note AND getting the property back with F...
Darren Gregory
Capital gains within California
Hello,I am selling my house in Oakland Ca. and moving to San Diego Ca. A friend told me there may be a way to defer capital gains taxes if purchasing a home within a certain time frame. Does anyone know anything about...
Grace Porritt
New Wrap Loan with Installment Sale
I have an Investment Property that I previously did a 1031 exchange on with sizeable gains. My income recapture (first to pay back), is approximately $45,000. I have a potential buyer (friend), that will work with m...
Ivan Smith
Seller Financing. Should I seller finance my property?
Trying to sell our home in phoenix az area and not getting offers so the agent said we should offer seller financing as it will bring in buyers. It was our personal home and a little over 2 years ago we moved out of s...
Jake Gaines
LLC or S Corp? Help!
Hello, REI'S! Hope everyone had a great holiday!! Enjoyed some good food and fireworks displays! I have a question for the community: When I first decided I was going to get into REI back in January of this year, I se...
Ernie Hogue
How are option fees taxed?
Hi BP community. I searched in the Tax and Legal forum, but didn't see this question answered specifically. I am trying to determine how lease option up-front option fees are taxed. My understanding is that they are r...
Russell Fugitt
Drop and Swap (removing a partner from my 2 partner LLC)
I have called several QI's and my lawyer, talked to my accountant. Each call I make gets me a different answer. My 2 member LLC is going to sell the only property we own this month. My partner does not want to rein...
Jeffery Rymer
Renting your own house?
I am a new real estate investor, I have been reading every book, blog, you-tube video and forum post I can absorb. The question is in Rich Dad, Robert states that owning your home is not an investment, but rather a l...