Avi Srimani
Advise requested
Hi,
I am looking at a four plex. I asked for Schedule E. I got for three years.
Last year shows as follows:
Rental Income : 20,000
Rental Expense 20,600
Depreciation 6000
Rental Loss 6000
Last three year the fi...
Nicholas Kitchen
100% Write Off First Year
Here is a scenario I would like some Intel on from somebody more educated on the topic than myself.W2 Employee in the 35% tax bracket, purchased an apartment complex in 2019 for $2.5mm under and LLC. You value add the...
Ariel K.
How to Read a Syndication K-1
This is my first time investing in a syndication and I received a K-1. Box 19A had 'distributions' and there was a capital loss as well in box 1. My understanding is that I shouldn't pay any taxes on the distributio...
Lyle Quillin
Help with financing strategy
Our goal is to develop a financial strategy for moving forward on purchasing investments this upcoming year. I think I have a decent plan of attack despite a recent setback, but would love to hear what advice the BP ...
Andrew Gomez
Questions about covering property taxes with depreciation
I own a trucking company (semi trucks) and a few of them i have personally guaranteed and appear in my credit report. My question is, in Texas my Taxes are usually net negative due to the ability for depreciation on t...
Steven Warner
Insurance in Mississippi near the Coast
I have a rental in Gulfport MS and I am looking to see if I can get the homeowner insurance premium reduced. Does anyone have a referral for an agent/agency that has coverage for the Harrison County Area? The proper...
Alex Ni
Need to move out of FHA house with roommate
Hey, Guys.I just bought my house for 175k in tampa florida with 3.5% down with FHA loan and I have 3 roommate who’s staying there to cover my mortgage. Now for some reason I can’t be in that house that ofter and it’s ...
Art Webb
Understanding IRS Net Operating Loss Carry Over for Rental Losses
I getting ready to sell a rental house which has accumulated a significant amount of Net Operating Loss over the past 20 years. I understand I can use this NOL to reduce my personal taxable income. Question: Can I ...
Jose Contreras
Tax benefits from RE investing in high income earners.
Hello everyone,We recently started investing in real estate in 2020. We are buy and hold investors and currently have 2 doubles in the cleveland area. We got into investing for it's wealth building annd tax benefits. ...
Casey S.
How to pull flipping profit from LLC?
My familys has a LLC set up that is mostly used to pay for my grandmothers care via rental propertys. I am the manager and I do not take a salary or any other payment from the LLC. I know you arent supposed to comingl...