Scott Henrikson
Looking for suggestions to minimize taxes on flips (no 1031)?
I’m a real estate agent that flips houses as well. I was looking for ideas to minimize my tax impact without using a 1031. Thoughts?
Carole G.
Want to sell home to tenant. Does 1031 come into play?
We own a home that we have rented out. We are considering selling it to the tenant. Does a 1031 come into play? Are the payments considered income on your taxes?
Lucky B.
Should i sell or continue to rent
Hi Guys, thanks in advance for all your opinion and suggestions. Here is my scenarios. I currently am renting a 3 bed home for $1500 a month. The real taxes this year is proposed to be increased to $3850 from $3500 la...
Navid A.
How to get paid after a flip
I got wrapped into an informal partnership on a real estate flip project that we are about to sell after 3 months of rehab. We split the costs 50/50 and we are about to close soon. Since the partnership/deal wasn't un...
Tom Horan
Capital Gains and Seller Financing - Advice Needed
Hey BP -I’m looking for some capital gains tax advice as I try to convince a seller to owner finance a multi unit property. From a tax benefit standpoint for the seller, is it more beneficial for him to sell at a lowe...
Nick Lawler
Rental Income Taxes
I am currently house hacking and renting out a couple bedrooms to some Navy friends but do not have them under a rental lease, however, I collect rent on a monthly basis. I am not sure of how this will affect my taxes...
Account Closed
Confused on income Tax for Potential rental property
Let's say I live in California and make $255,000 of taxable income, from my advertising company. I want to buy a duplex with all cash that would start paying me $2,000 a month after all expenses have been paid (other ...
Shawn H.
Military, LLC and first multi family rental
I have two questions hoping y'all can help me out with. 1) I'm purchasing a multi family property in my personal name. Should I set up an LLC to manage the property? (For ease of separating expenses, write offs, payin...
Jason Smith
Taxes and selling lot with two houses on it - Primary/rental
We purchased the property in 2013 for $49,900. It is a unique lot because on one parcel it has two dwellings. For the purpose of this post, I will call them the front house and back house. We lived in the front ...
Jacob Campbell
1031 only option?
I had intended to sell about $5.3MM of rental property and simply use the profits to may off debt on other notes. However, I'm told my tax basis will be close to $2MM after depreciation recapture.
Does anyone ha...