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Looking for ideas, not specific investments but general ideas, on sheltering income from tax by investing in real estate. I will be earning some significant sums of income over the next two years. Unfortunately none...
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I've been filing my tax return through H&R block software for a long time now. I purchased a rental back in the middle of 2012 and have just now realized that my property basis I inputted into the H&R block s...
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Hi,My fiancé paid >$150k in taxes from her W2 job. Would buying passive income (multi fam) offset her taxes? Getting a lot of mixed messages from CPAs! 😫
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If you pass all of the qualifying tests and indicate at tax time that you’re a real estate professional, does that allow you to use all of your losses to offset gains?i know as a non-real estate professional you are l...
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I currently own 3 single family homes in Dallas Texas. My first purchase did not have the best cash flow (learning experience) and currently has an 18 month lease set to end in 2021. When I say not the best i am refer...
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Hi - I converted a primary residence (primary from 2014 to 2018) in 2018 and currently renting. My tenant is leaving and at crossroads trying to figure out if I continue to rent or sell both given the current real est...
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Hi all, I have an out-of-state rental in Oklahoma. It's net income is a loss due to high turnover costs, management fees, etc. If my net income (rents- expenses and mortgage) is below $0 do I still have to file in O...
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Would you buy tax benefits if you could? An example would be $180K worth of depreciation for $140K
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I recently had a deal fall through as a result of major inspection issues. I had already requested an appraisal + loan application fee + was using an attorney so overall I'll be ~$2k in the hole.I'm fine with that, be...
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Question on section 121 exclusion for cap gains, specifically the timing of needing to live in the property for 2 of the last 5 years. Does anyone know off-hand if that is for the calendar year or exact dates? Assumin...