Mark Jones
Deductible interest after a cash-out refi
I need some help understanding what interest I can/can’t deduct on schedule E.I did a cash-out refi on the duplex I live in back in August. That refi also paid off a heloc I had on the property. 75% of that heloc had ...
Vilson Nikollaj
Is there a tax deduction for defaulted loan interest not-paid?
Moving this post to tax forum... Think answer is no, can't claim unpaid interest on 1099-C, but @paresh patel brings up good point about what hte Box 3 pertains to. Anyone know what the purpose of this is?But if Inter...
Jason Sullivan
Loan Questions for a Seller Financed Loan
I'm new to this so please bear with me. If I was interested in purchasing a seller financed home with the total price of say $700,000, could the loan be structured to pay off say $150,000 to the seller over a 4-year p...
Joel Hunt
Hard money tax reporting
In 2022 I participated in a hard money loan and terms were for a year. I received a 1099nec in 2023 with the amount lended plus interest. How do I go about only reporting the interest earned instead of the entire amou...
Lee Common
What opinions do you folks have about DLG Investments?
Have you ever done business with them if so with who?
Thanks in advance for your responses!
Best,
Jay Gray
Identity of Interest transactions (aka Non-Arms length transactions)
(Current as of ~2003.... I'm searching for any updates to this & will post what I find)
For reference, in regards to FHA loans purchasing property from relatives or other similar situations...
Non-Arms Length Tr...
Mike Wilkins
Real estate license
I am a new real estate investor looking for book recommendations on Ohio real estate licensing. I’m considering getting my license but that is a long term plan. For now I am just looking for recommendations on books t...
Charles Moore
For a BRRRR, which HELOC type is better: interest-only or P + I?
Hey, all,I'm pursuing a BRRRR strategy for a property using a HELOC from my primary residence. I will be refinancing it after the 6-month seasoning period. The credit union I chose offers both an interest-only HELOC...
Brian Salazar
Tax Obligations on a Seller Carryback
I am in process of selling my primary residence. With the change in the market it has been a much slower process. An opportunity has presented itself that’s a different approach, in which I would need to do a seller ...
Tyler Villar
recapture tax/capital gains
I am selling financing a mobile home for 1,200,000 at 6.5% for 20 years.200,000 down, 1,000,000 mortgageI will be subject to 400,000 on the recapture tax so I've taken the steps to reinvest the 200,000 down payment.Ho...