Jarrod Willis
Borrowing against my primary residence, HELOC?
Background: current flipper and landlord with a partner, wanting to invest some solo. I have about $250k in equity on my personal residence. I would like to either 1) purchase a rental property myself or 2) Purchase l...
Curt Smith
filing taxes on a note that I foreclosed on AND got the property back a low FMV.
I did search BP on this topic. Apologies if I missed a thread! I am almost an expert in RE taxes and self file. Just currious re any unforeseen issues with foreclosing the note AND getting the property back with F...
Rud Sev
Carry back or forward loss from sale of real estate
Hello,
I sold 2 properties at a loss in 2023, and one property for a small gain in 2023. When looking at my tax return from my CPA, the losses and gains show up on Form 4797 (Part I for the losses and the gain in Par...
Seung Won Lee
Buying a 2nd home and renting out
Hi BiggerPockets community,First of all, we are newbies currently living in LA. My wife and I bought our first property (primary) back in June 2020 in LA.We are now thinking of buying another property as a 2nd home in...
Mark Benevento
Is anyone actually putting money in their pockets at end of yr!?
Hey guys! I've owned a triplex for about 8 months and it seems once my acct gets to a good number taxes are due and something needs to be fixed. I'm covering the mortgage but just struggling. Any suggestions? Thank you!
Marcia Langley
Inherited IRA - new tax law
Does anyone have knowledge or experience with this? is one way to handle it to w/d 1/10 per year...?...if 1 cannot predict one's income and tax brackets? and when one pulls it out, then best tp put in roth ira? or sel...
Pablo Madrid
Section 121 exclusion rental to new construction primary home
I am buying a house next month with a rental on it primarily for the land value (urban Houston). There is a month to month tenant on the property which I will keep to offset holding costs while I design the home and I...
George Habator
If Roth IRA is converted to traditional, is it deductible?
Hi, all. If securities are transferred from Roth IRA account to a traditional IRA account, is it deductible as if they are new funds being transferred in? Thanks
Michael Clemson
Investing for 15 years compared to brokerage account
I have been reading the site and other resources for a few weeks. This will be a wall of text, but I've thought this through and hope someone can check my math and assumptions about how this works.My goal is to compar...
Kris Benson
How do I calculate future potential?
Happy Holidays!
How do we create a value of future potential of a property? This numbers below are for a 12 unit for sale in upstate NY.
Based on rent roll 2% rule means we should look at a purchase price of around ...