Chris Little
Advise on tax return for RE investor and Realtor
Looking for some advice on finishing my 2020 tax return.
Here is the situation:
In 2020 I became a realtor and also acquired an investment property. 2 different activities that need to be reflected on my tax retur...
Karen Bolyard
Capital Gains Question
Hello everyone,I recently purchased a SFR as an investment property and started rehab this week. Trying to decide whether to flip or rent. I had originally thought I would rent for year and do a 1031 to avoid cap ga...
Hubert Chen
Strategy for offseting passive rental losses for my active flips?
I am a full-time flipper. My wife and I just started acquiring rental properties and I want to offset the passive rental loses against my active flip income. I thought I just had to have 750 hours in my real estate pr...
Bill Briscoe
Do you issue 1099s?
I read that landlords are exempted from issuing 1099s to contractors and laborers. Does that apply to buy and hold rehabbers as well?
Devin Keener
How does the $150k AGI rule work for real estate tax deductions against w-2 income?
I'm new to real estate investing and own one rental and a primary residence. I recently found out about the separation between passive and active incomes and that there are rules about crossing the line on how you can...
Steven Anderson
Lot purchased to build personal residence but later sold
In 2016 we bought a lot to build our personal residence. In 2017, we decided to build elsewhere and bought a different lot. We now have a contract to sell the original lot and it will close in January 2018 for 34% mo...
Larry Watson
Can I take losses against my wife's W-2 income? Need a good CPA
I started this new thread because I wasn’t making myself completely clear about my tax situation. I have been told that since my wife has W-2 income that is well above 200K per year we have to suspend our real estate ...
Jami Vincent
Forest Manor area of Indianapolis Good?
I'm in socal and would like to start investing in Indianapolis. Does anyone guide me if the Forest Manor area of Indianapolis IN is good area to buy in? I'm not interested in a major fixer - buying in the 53K range.An...
Henry T.
CPA, STR deductions and losses.
My CPA says STR "A" can only deduct expenses for STR property "A", and only up to income level. Whereas my other LTR rentals B,C,D,E etc, can accumulate/share deductions and losses , as well as carry over. STR cannot....
Bob Ebaugh
QBI and Solo 401K Implications
I'm struggling with interpreting the QBI rules and was hoping to get some comments on if there is any correlation to Solo K properties.We actively "manage" residential rentals we personally own and others held in trus...