Thomas Skuba
Loss of Use coverage
I recently reviewed my rental property insurance coverage for one of my duplexes. It's currently insured for Loss of Use, including Fair Rental Value, up to $91,500. Total gross income for this duplex is just over $20...
Spencer Krautkramer
Can Deductions Exceed Rental Income?
I am wondering what happens if the expenses towards a rental property exceed the amount you get in rental income, what happens that that excess dollar amount? I am currently house hacking (living in one unit of a dupl...
David Howarth
Negative Cash Flow & Taxes
I have heard that the IRS will only allow you to have a negative Cash Flow for 5 years before they wont allow you to do business.
Does anyone know anything about this?
James York
Losses on rental property
I’m getting in to my first rentals, but want to make sure I don’t do things improperly. I have w2 income and 1099 income. If I have losses (depreciation etc) on my rentals in excess of the rent, they should be able to...
David Green
Liability for Delays - Loss of use
We had a small fire in the common area of our association that caused damage to all six units.Some owners decided to take advantage of the situation and add on minor renovations to the repairs.The insurance company (E...
Nathan H.
Complicated Capital Loss/Gain Question for all of the tax wizzes on here
Hello BP!I'm trying to file 2022 (I know, I'm late) and I have a question on flexibility in deciding when I can use capital losses. I want to take advantage of the 0% LTCG rate up to 90k-ish MFJ + standard deduction, ...
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...
Thomas McPherson
Common Mistakes in a BRRRR
Hi all, I want to start the conversation about common mistakes when doing a BRRRR. Here is my short list:
Overestimating the After-Repair Value (ARV):Investors sometimes overestimate the future value of a property a...
Account Closed
Advice on excess 2019 contributions to Roth IRA
Hello all.
As I was preparing my tax returns, I realized my 2019 AGI exceeds the IRS income limits for full contributions to a Roth IRA, which carries a 6% penalty for every year the excess along with its correspondi...
Julio Gonzalez
Real Estate Tax Deductions Part II
In part II of Real Estate Tax Deductions, I want to talk about the Passive vs. Non-Passive Rule. If your income is less than $150,000 per year, you are allowed to claim up to $25,000 in passive losses. Rental income f...