Tom Read
Can I write off interest on my rental in MI while I live & rent in CA?
I own a condo in Novi, MI that I purchased in 2001. I married & moved to take a job in California but wasn't able to sell my condo. My wife & I rent in San Francisco & our annual income in 2012 was $ 207k....
Roger Doe
contractors, vendors, project payment
TLDR: Company did shoddy work that is beneath my standards. Should I make the contractor come back and do it the right way even though he has to take a loss?Here is the long version:I have a problem that I hope peopl...
Teddy Kennedy
Tenants are asking for a rent rebate for renovation
Newbie investor here, apologize in advance for the long post.
I have a house rented for $2k/month for 3 years. It is a 3/2. We are currently in the third year of rent. I have not increased their rent (although I shou...
David Lutz
Setting up a company to shield REI income
Afternoon all :) Appreciate everyone's help in advance. Would like some advice on how to minimize my tax liability by setting up a company.I own a primary home in CA, and out of state SFRs. Everything is under my ...
Mathew Pezon
Painful First Flip Turned Flop. Any Advice??
Dear BP Community,
It all looked so good on paper, and then when the project started things did not go according to plan...
I'm dealing with a painful first flip that I still haven't sold yet but purchased in Octob...
Matt Tallent
What is my tax loss good for?
Hey all,2018 was my first year investing and I took a loss on my first property because there were repairs and upgrades I wanted to make. I’m taking a loss for 2018 and want to know what the loss is good for. I’ve hea...
Sean Sweeney
Depreciation to shelter income over multiple entities
Hello,So currently I own 3 separate multifamily properties. Each is in a separate LLC. For simplicity sake, Lets use the following numbers.LLC 1: Net income $20,000. Depreciation 30,000 a year. Paper loss of $10,000LL...
Daniel Flores
Accidental landlord Tax question
New job is going to take me away, having me moving from my primary residence and hoping to rent the house out. I am wondering how this is going to affect my tax liability on what was my primary residence. Don't want a...
Petra M.
HUGE? Now deduct unlimited real estate losses
From CNN. Can deduct unlimited real estate losses off regular wages, no income restrictions, and retroactively to 2018.
“Previously, if a married couple had depreciation deductions that exceeded their real estate bu...
Jim Madden
Rental Losses to offset Taxes owed from IRA Withdrawal
I withdrew money from my IRA and it will be taxed as ordinary income. Can I use Rental property losses to offset the taxes owed from this withdrawal when I file my taxes?