Chris Azhocar
Advice on 1031/Title Transfer
I have an investment property under my name in Las Vegas with a standing mortgage, and after the opening of their new stadium, property values have been rising from the pandemic lows. I would like to transfer this pro...
Arnold Finkelstein
Alabama Tax Deed Theoretical
If a taxpayer/former owner of a property that is a tax deed, still owned by the state of Alabama, quitclaims to me (before I or anyone else has bought this deed from the state) what, if anything, does that get me?
Wo...
Kezia Edmonson
1031 to Multi-Family Primary? LLC w/ mortgage?
I have a house I may want to sell/1031 exchange (currently a SFH ~$400k value which is all paid off). I am looking to buy a small multi-family (3-4units) as a primary residence in 1 unit, rentals in the others (likely...
Dave Luu
Rental Property tax (F1040 Schedule E and F8582)
Dear All,
I have a question on my two rental properties:
One property has a profit this year ($2k profit, but carry over loss is $30K); The other property is a loss ($4k loss, carry over loss is roughly $25K).
Lo...
Paul Clements
Tax question on selling principal residence
Hello,I've lived in a home for 20 years (it's a 50 year old, 1200 sq ft modular home that has very dated decor, drop ceiling, and in fair condition) and it's currently listed for sale. It's paid off. I have an offer f...
John Kwon
BRRR cashout questions (tax related)
So interest rates are tanking so I was about to refinance and take cashout from some properties.But, speaking with my accountant, I found out that interest on the refi will not be tax deductible because I am not plann...
Chris Gawlik
1031 exchange rules?
Can you 1031 exchange a property owned by an LLC? Can you 1031 exchange 2 properties for 1 property. For example if I had 2 rentals and wanted to 1031 exchange them into a 10 unit property is that allowed? How long do...
Desiree L.
STR Loophole- Huge return for me
I have to give a shout out to Bigger Pockets! I am a regular listener to the Bigger Pockets podcasts when I am doing chores around my house and my STR property. A few months ago, I was listening to a podcast (I thin...
James Hiddle
Wells Fargo Cancels Trip To Vegas For Employees
WASHINGTON – Wells Fargo & Co . abruptly reconsidered a pricey Las Vegas casino junket Tuesday after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money.
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Farid Moaveni
Do you have to pay taxes when refinancing a home after rehabbing?
Hello,Does anyone know if you must pay tax on the “income” earned after refinancing a home you recently rehabbed? If I invest total cost of 80k in a home, get it refinanced at 120k and get 70% of that to invest in ano...