Juan Contreras
Limit to how many years you can take a loss against w2?
I make under the limit to be able to deduct 25k against my w-2 teaching income. Is anyone aware of there being a limit to how many years you can consecutively take a loss? I am not sure of how pissed the IRS would be...
Michael Delmont
Flipping Tax Question
I apologize if this has already been asked:
I purchased a condo in 2019 to flip using hard money and it will sell in 2020.
Do I enter the full purchase price in my Cost of Purchases or just the down payment on the ...
Julie Groth
Form 8825 the correct one for STR income?
I know STR income is treated as active by IRS (like a hotel) and I have S Corp. My accountant used form 8825 (rental real estate income for S Corp). Is this correct? I would have thought it should appear in a differen...
Tim Block
Questions About Tax Reporting on Sale of Property
I have a bunch of questions for the tax gurus here. In 2022 my wife and I sold 2 properties that were held longer than 1 year. My main question was can I list both under a schedule D? Here are both the scenarios and ...
Jason A.
Can I deduct both mort. interest and depreciation from my taxes?
Greetings,I'm getting some conflicting advice on this topic. Can I deduct both mortgage interest and depreciation from my rental property on my personal taxes?
Buddy Holmes
IRS Deduction for Real Estate Investing Expenses
What are the IRS rules on deducting expenses for Real Estate investing efforts?I have several current rentals which are reported on Schedule E.However for "Driving for dollar" expenses, trips to check out DST investme...
Janice Squire
Cost Basis tax questions for repossessed property
As an "active" real estate investor, I'm looking to establish a cost basis for a property that I owner financed via title and deed many years ago. The owner died and the property conveyed back to me via special warra...
Char Bacheh
help with the calculation
i made 30k throughout the year, why is it when i put the full 30k on my schedule c i get a refund, and when i put 25k on schedule c and 5k as a distribution from my s corp i owe money, i thought distributions dont hav...
Lorinda Fields
Funding a Solo 401k
I am planning to transfer my IRA into a solo 401k so I can invest in real estate.I am planning to use my 1099 income to fund it on a regular basis.Do I need to file a different tax form where I would pay medicare and ...
Fritz Ritter
Canceled Tenant appointments
I’ve recently had a lot of potential tenants contact me about our apartment for rent . It seems like more times then not they all cancel and I end up wasting time driving . What are some ways I can stop wasting time ?...