Amar Amar
HELOC - Interest deduction
Hello,I bought an investment property with cash from the HELOC on my primary residence. Can I deduct this interest payment as expense on my investment property to offset the rental income?Thank you for the responses/h...
Rick Lucette
Turning home into rental property - tax implications
hi Community,We just moved out of our home (purchased a bit more than 4 years ago). It is in a convenient location that rents well and we would like to keep it as a rental property. I fully intend on educating myself ...
Jameson Sullivan
Taxes for RE Professionals - Show high income, or write it off?
Of course, I am involving my own tax professional for my personal tax returns but I wanted some insight from the rest of the community here. How do you look at your taxes in relation to the effect they have on purchas...
Ryan Deasy
Can you deduct taxes etc on a lease purchase as the buyer?
Hi, If you are the buyer on a lease purchase and are paying items such as real estate taxes, etc., can you deduct those items even though you are not on title yet? Thank you!
Mike B.
I converted a planned flip to a rental late 2014, tax consequenses?
Hi All,First off, I will consult my tax professional before doing anything. I am looking for the 10,000 foot summary to get my mind around what I will be looking at when its time to tackle this.I bought a fix and fli...
Stacy Kiley
Used my HELOC to buy rental property. Is it tax deductible?
Hello BP community! I recently used my home equity line from my personal residence to purchase a rental house. 1. Can I use the interest as a tax deduction on my tax return? 2. If yes then how do I know what portion o...
Joe Wood
Section 179 and income
Good morning everyone,I have a question regarding section 179 and if I would be able to deduct certain expenses against my income. My question is whether or not I can expense the full amount of my purchases against my...
Stanley Dean
Best Real Estate based Tax strategy to offset YouTube income
Hi all please provide Best Real Estate based Tax Strategy to Get Tax deduction Benefit to offset YouTube Income for a 16 year old and can he be on a home title of ownership. what avenues are Youtubers employed to get...
Account Closed
Questions on Real Estate Tax Strategy or Investing
As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and han...
Alan Grobmeier
BRRR & IRS Tracing Rules
Has anyone run into irs tracing rules when doing a Brrr or cashout refi on a rental?Here is a link:https://borelassociates.com/wp...ThxAlan