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Results (7465)
Jake Anderson Tax Shelter Through Real Estate
2 December 2016 | 4 replies

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...

Joe J. Amended returns resulting from miscalculating property basis
19 June 2017 | 2 replies

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...

Danny Milea >150k In Taxes 2019
29 July 2020 | 15 replies

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! 😫

Ryan Deasy Designating yourself as a real estate professional
11 January 2023 | 18 replies

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...

Jake Celler Get rid of low cash flow properties?
24 June 2020 | 5 replies

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...

Khushi Bahut Taxes when selling rental that was primary section 121
8 February 2021 | 4 replies

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...

Chris Ivy File state taxes if net is a loss?
19 March 2024 | 6 replies

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...

Mel Anic Would you buy tax benefits?
31 July 2022 | 6 replies

Would you buy tax benefits if you could? An example would be $180K worth of depreciation for $140K 

Jim S. Deducting expenses from failed purchase
6 June 2017 | 5 replies

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...

Steve K. Question on Cap Gains taxes/ Section 121 Exclusion
29 April 2024 | 5 replies

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...