Jose Contreras
Tax benefits from RE investing in high income earners.
Hello everyone,We recently started investing in real estate in 2020. We are buy and hold investors and currently have 2 doubles in the cleveland area. We got into investing for it's wealth building annd tax benefits. ...
Sattir Bitti
Passive Activity Loss to offset gain on sale of another rental property
Hi,I'm in the process of selling one of the properties that has decent equity. I have suspended Passive Activity loss that would reduce the gain, but not eliminate the gain from tax POV. I have another rental property...
Mike Callahan
Strategies for paying off debt
Long story short, I’m in a position where I want to sell a few houses to pay off the debt on my portfolio of real estate. I’ve concluded that my only real option here is to bite the bullet and pay capital gains. Does ...
David Howarth
Negative Cash Flow
If a property has negative cash flow at the end of the year do you get a deduction on your income taxes that are owed?
Say if you earned $30k from your job and you owe $1000 in income taxes but your property had a ne...
Brian Knox
Is there an upside to this situation?
Can't sell our residence in MN and are forced to rent it. Cash flow is break-even or slightly negative if I rent it out. Can you help me understand the tax benefits?
Monthly outgo: $840 PITI + $110 Property Managemen...
Mike Mefferd
Tax Implications of Selling Property from one LLC to another
I am looking for tax advice if I sell a property from one of my LLC’s to another LLC that I own. WIth this sale, it would show $150k loss and I wanted to know if this loss could be deducted on my taxes. Looking for an...
Daniel Trzaskos
To 1031 or Not to 1031 - Offset Capital Gains
So.. odd situation that I'm having trouble getting a solid answer to. Partner and I bought a MF property via LLC which now under contract. Partner does not want to go the 1031 route and is ok with the capital gains hi...
Sean Jafari
capital contribution to my S corp
I listened to my real estate agent and opened up an S corp few years ago, since then I have purchase a few rental properties and was able finance a 2 of them and purchased the rest in cash. is financing/buying a new ...
Seth Schnakenberg
Nebraska Investment CPA's & Asset Protection Attornies
I am looking for any bread crumbs that might lead me to a CPA specializing in investing along with an attorney specializing in asset protection in Nebraska.My first single family investment property was purchased last...
Kurt Granroth
Estimating Schedule K-1 as LP prior to investing?
I'm trying to track down some real world numbers or estimates of Schedule K-1 statements beyond the high level handwaving on Investopedia and the like. I'm going to make a huge number of assumptions and I want to be ...