John Hole
De Minimis Safe Harbor and Safe Harbor for small taxpayers
I understand that the De Minimis Safe Harbor is for real properties that are less then $2500 each and Safe Harbor for small taxpayers is for improvements that are no more than 2% of the cost basic or $10K whichever is...
Account Closed
Approved Tenant requires Owner's SSN/Taxpayer ID for 'Reporting' purposes
does the approved tenant (for one of the 2 units in a legal duplex) have legal grounds to be demanding the owner's (landlord's) taxpayer id? tenant explanation is that intends to file a 1099 for each year she is owner...
Judah Bailey
Real Estate professional status
Hello, I had a question about being seen as a real estate professional for tax purposes. If I'm "House Hacking" my primary residence does that count as hours towards my 750 per year?
Denise Evans
Alabama Tax Sales and Investors Who Wait Too Long
A new Alabama Court of Civil Appeals decision on Friday January 12, 2018 makes it clear that Alabama tax sale investors who wait too long to take possession forfeit their rights.The issue is about the short statute of...
Joe Spinelli
Real Estate Professional - 750 hour question
Hello everyone! I know the criteria to be a RE Professional is 750 hours in RE and more hours in RE than any other job. My accountant told me that I need to spend 750 hours PER PROPERTY which does not make sense. H...
Brian Morgan
Me big W2, spouse RE pro. How write off 1/3 LLC losses?
Sorry for the Tarzan title, but I think it covers the bases. So I’m a W2 wage earner in the 33% tax bracket and my wife, who has no income, logged 750 hours on our rental house last year to qualify as a real estate pr...
James Hentz
1031 Exchange from Personal to LLC
Hi,My wife and I had a rental property in our names and after making capital gains have decided to sell the property and perform a 1031-Exchange. We have identified a small apartment building as a like-kind asset and...
Juan Vargas
New Tax Reform- Great Read
Thought this was a great information on how the tax reform will affect commercial real estate investors. I have not checked to see if it was posted and shared before. I apologize in advance if it has. How CRE Investor...
Andrew Clark
Primary Residence Capital Gains Tax
Needing some advice on capital gains tax.. I will be selling my current primary residence in a few months & moving over the proceeds to my next home. I will only have lived there for 10-11 months by the time I mov...
Mitch Freed
IRS Foreclosure: Seizure and Sale
Anybody have any experience with an IRS Public Auction where the IRS is auctioning off the right, title and interest of the Taxpayer in and to the property?
This particular sale has a 180 day redemption period I cann...