Tyler Painter
Requesting a Schedule E
Hello, I am in the process of purchasing my first multi family property and ran into something that doesn't seem normal to me. From my understanding it is not uncommon to ask a seller for the Schedule E. Also my bank ...
Kyle McCorkel
Which LLC to use for a flip
I have done only buy and holds up to this point, and my focus will continue to be buy and hold in the future.I have two LLCs, #1 is more established with 4 rental properties right now. With all the tax write offs incl...
Rich Weese
3.8% tax on future real estate sales!!!!
There is a provision for a 3.8% tax on real estate sold beginning in a couple years as part of health care bill! I did try to verify with snopes. It was confusing and only discussed in terms of owner occupied sale. Di...
Arthur Voskanyan
AirBnB & Taxes information
I have a question;
In terms of taxation on income taxes for the IRS, how is rental income treated? For example using AirBnB services?
Let’s say my condo makes 30k/yr in AirBNB before taxes, after all my deductions I ...
Colleen Cupp
Tax Help for a Newbie!
Hi BP! Can anyone recommend a CPA for someone who got their first STR property this year? TIA
Taylor Johnson
DTI, Cash Out Refi Situation
Hey biggerpockets fam I am having issues with financing and wanted to see if anyone had tips!I bought 2 properties about 16 months ago, did repairs on them so on my 2021 tax returns my real estate shows a loss, with b...
Anthony Arias
LLC's S-Corp vs Corporation selection for tax purposes
Im a newbie investor. Stupid enough to create an LLC on 12-01-14. Now I have to file taxes for that LLC. I have no partners and plan to wholesale properties. Should I classify my LLC as an S-Corp or Corporation? ...
Andy W.
Expenses not specific to any property
I have two rental properties (1 single family + 1 two-unit), but this is the first year I've encountered tax season as an RPO. I have a CPA I intend to have file my taxes, but it sounds like they're not expecting me t...
Lori Sullivan
IRS deduction rules around STR purchase to listing
I am having a hard time finding if IRS has rules if there is a time limit (purchase to in service date) on what can be deducted.
Scenario - STR home purchased in August 2023. working on home to set up for STR Augu...
Michael Sherwood
Rental Property Analysis Tool
I know we had someone explain how this tool is used but where do you get all the information to fill it out? I mean I am just getting started in doing my first deal how do I find realistic figures? Thanks in advance g...