Will B.
Taxation of Unrecaptured Section 1250 Gains
Hello!Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciatio...
Ryan Fox
Where to find cost basis in tax return?
I own about 16 rental properties. From time to time, I consider selling a property and ask my CPA what he has as the cost basis so I can understand the tax ramifications. Then there's a long wait... Is there somewh...
Cole Simpson
How Short- Term Rental Hosts Are Taxed?
Nothing stresses out a host more than short-term rental taxes.A deduction is an expense you spend on your short-term rental business that can lower your taxable income. This is a good thing! The more deductions you re...
Ken Latchers
Its that Taxing time of year.
As its that time of year (in the USA at least), i found this (among many) good summary about when you have to pay self employment tax or not. Generally if you average 7 or fewer nights or 8-30 nights and provide "subs...
Tom Hoffman
finer points of renting a room in to a family member
I found this forum searching for information on Schedule E and owner occupied rentals.I'm confused about some of the finer points of renting a room in an owner occupied rental. This isn't my situation, but one of a fa...
Account Closed
Landlords/Property Managers - What is a reasonable time frame to schedule regular inspections on an occupied rental?
After spending money fixing up a property, I obviously want to make sure the tenants occupying it are not damaging or tearing anything up....whether accidentally or deliberately......or worse still, using my property ...
William Leahy
New Federal tax bill and the second home market
Greetings BPers, I'm curious to hear opinions from those of you in vacation markets on the effects of the new tax bill on the second home market for 2018. My gut tells me that retail buyers will hesitate and put down...
Yifan D.
Home Cash out Refinance for Rental Investment tax deductible?
Taking advantage of super low primary residential mortgage rates.Will refinance my primary house and plan to cash out enough to pay off an investment property's mortgage balance.Will deposit the cash out check and pay...
David Wilkes
Family Loan w/ Single-Member LLC Question
Hi All!Brand new to BiggerPockets and am hoping that someone out in the forum community may be able to provide a bit of guidance on an interesting topic for me. As a bit of background, I'm a resident of New York stat...
Stephanie Cristiano
Offset K-1 capital gains (RE syndication) with passive losses?
We have large unallowed passive losses carried over on 8582 (from several years cumulatively) from various real estate syndication deals reported to us on K-1s. For the first time in 2019 a few of those assets have e...