Pierre E.
STR tax loss - effect on 401k contributions from Depreciation
Could deducting real estate losses against your earned income affect the amount of income you can place into a 401k or Solo 401k? Example: if you claim REPS status or you use the STR active status to deduct a total of...
Jim Williams
tax consequences of assignment of contract
has anyone had any experience, from a tax standpoint, in assigning a contract for profit? in other words, what type of income does irs consider this transaction for person assigning?
jim
Charles Cruse
Depreciation exceeds income, do i get a refund?
Hi All,
Looking for some sources or answer if available. I am currently working abroad long-term. So I am not taxed in the US on the income I earn from my job. However, I do own a rental property in the US.
I know ...
Kinjal Patel
is rental income consider as earned income for form 2441?
Is rental income consider as earned income for childcare credit? My spouse has w2 income and we have some rentals that I manage. we has positive rental income on schedule E even after depreciation, high HOA fees, int...
Charles H.
Overcontribution on Roth IRA - need help to fix
Hello all! So somehow, I didn’t notice my AGI would be above the IRS Roth limit (198,000 AGI) and I had contributed 6000 into my Roth in 2020.So my tax program is telling me I have to pull 1250$ + any earning made on ...
Drew Dim
Spec Build - should LLC file under S-corp?
so I've filtered through the archives and didnt see an exact fit to my question so here goes.I have a lot that will have potentially 3 spec homes build on them. The 1st is under way and will be completed Jan/Feb of 20...
Grace Navera
Do I pay income tax on investment income?
Newbie question here- do I pay income tax on investment income? I haven’t heard it addressed at all yet in the podcasts and other materials I have come across.Thank you!
Zoey W.
I HOPE I am misunderstanding this... Colorado now limits tax deductions!!????
I hope I am misunderstanding this regarding new tax law in Calirado... sorry I meant Colorado...."Effective January 1, 2023, single filers are limited to $12,000 and joint filers are limited to $16,000 of deductions. ...
Jeff S.
Placing rental income into a retirement account?
Is there a way to defer some rental income into some kind of retirement account when retired?
Lets say someone was able to live entirely off savings for a year, could they somehow put their rental income into a defer...
Dan Sheeks
Rollover capital gains into a 401k?
Is it possible to invest money from capital gains from the sale of a real estate investment property into a 401K to defer the tax on those capital gains?