Randy King
Are repair costs expensed or added to basis when selling a rental house?
We are in the process getting a house ready to sell that has been rented. Are expenses such as painting and misc other items expensed for that year or are they added to the properties tax basis when sold?
Levi Chuculate
Opportunity Fund Withdrawals as Partner
I’ve recently entered into an opportunity fund partnership. To be clear, I did not passively invest in a fund. I started the fund. I’m a general partner of the fund. It seems all the rules regarding what to buy and ho...
Anthony Conte
Security Deposit and Pro-Rated Rent
hello all,Bought a MF in 2014 and now I am filling out the tax forms!On the HUD-1 settlement form, I received a credit on the purchase of the MF for the security deposits and the rent collected from the beginning of t...
David Augustyn
House flip scenario. Will I fall in a tax pitfall?
I bought and rehabbed a house, planning to hold as a rental. I have since decided to sell. I have an option to sell on a land contract and I am trying to figure out the tax implications. From what I understand, I will...
Ken Singh
Out of State Passive Investment Taxes
I am in CA and thinking of buying 2/3 apartments in MI state managed by apartment complex management.What can I deduct from my expenses?1. Property Taxes (Y/N)2. Property Insurance (Y/N)3. Management Costs (Y/N)4. Mai...
Sean H.
S-corp - dividend taxes ?
What taxes are dividends subject to (not talking about wages i pay myself)?I believe FICA is exempt? Is it just the dividend tax rate of 0/15/20%, or there any additional taxes this money is taxed? For state, is it ju...
Horacio Gutierrez
Inherent home depreciation
Hello,If you inherent a rental property can you still depreciate home again or wont because it was inherent and also if you can depreciate what will be new basis of the home is the fair market value of the property wh...
Chris O'brien
How do taxes work as a landlord
You have to pay property taxes but are your leftover profits taxes the same as income from a regular job? If so can you write off expenses(i.e. maintenance)?
Loc R.
Splitting a parcel
Let's say I buy a property with 2 buildings on it, and have a mortgage against the property.
Let's now say I split the property into 2 parcels, sell one and keep the other.
How would the lender (normally) react?
Ho...
Matthew Neumann
Moving into a rental property - how?
Hi all,
I am interested in purchasing a second home and having it as a rental for a couple of years and then moving into it as a primary residence. The house would be in a location I am more interested living in, how...