Xiaoyan Liang
Cast Iron Sewer pipe replacement with PVC pipes
Hello,
I have an old house (built in 1900s) and a weeks ago, there are 3+ leaking spots in my cast iron sewer pipes in the basement. Some of the cast iron pipes are rusted/cracked and started to form holes. I tried ...
Nathan H.
Question about Carryover Basis
Can anyone tell me if carryover basis restarts at 27.5 years in a 1031x, or is it excess basis at 27.5 and carryover picking up where it left off? Having trouble finding the answer. Any help is very much appreciated!
Chris Logan
Looking for some Clarification.
My wife & I own an Air B&B, and run it as an LLC in a non-communal property state. I just want to make sure we are doing this right. My understanding is we need to file a 1065 to generate K-1s. If we plan on f...
Jack B.
Tired of shopping for apartment complexes
Almost every person I deal with wants to only provide proforma numbers of their best case scenario with no capex or vacancy built in. I ask for schedule E and they claim the have only owned the property for 2 years. O...
Curt Smith
Sched E landlord, where to best deduct business expenses: education etc?
Hi Folks, Last few years I just added up my general business expenses: education, technology, subscriptoins etc, divided by my number of Sched E houses and added an expense called General business expense onto EACH h...
Account Closed
$10,000 property tax deduction cap impact on house hacking
Hi!Just have a very quick question regarding the newly proposed $10,000 property & state income tax deduction cap. How would it affect the property tax deduction for house hacking (buying a multifamily and living ...
Aidan Birmingham
How to determine how much principal remains when balloon payment is due
I am closing a seller financing deal but am confused with how monthly payments are split up between principal and interest. How do I determine how much principal is owed at the 10 year mark for the balloon payment? I ...
Nate Michaels
Owner-occupied duplex, how to depreciate properly
Hi all, I'm owner-occupying one unit of a duplex and I'm wondering what is the best to report the depreciation if I convert the owner-occupied unit into a rental at a later date. The challenge I'm having is specifical...
Ray Slack
Question - 20% Trump pass thrgh Deduction- income threshold $157k
Okay.. I have read up thoroughly on the 20% pass through deduction and have a question about this hypothetical person. Schedule C for Subchapter S -construction business Net income $50,000Rental Property gross annual ...
Aaron Moayed
Tax Questions - Building Spreadsheet
I'm building a spreadsheet, and I'm stuck on a part I'm not quite sure on:
Basically, I'm asking if dividend recapture amount is realized only if there's a gain on sale, and if it's dollar for dollar (e.g., $1,000 i...