Scott R.
Passive income negative, do I even bother rental income taxes?
Properties generated $110K last year, I stopped at $120K losses before even going into expenses. I don't want to dig through expenses and itemize all that crap since I'm already at no income. So do I even need to file...
James Park
Tax question regarding deduction and depreciation in one of my rentals
I have a townhome in Chicago that i lived in from Jan 1st - June 30th, 2011. I had this property rented from July 1st - December 31st, 2011. I had a flood in August 2011 which cost me $15,000 out-of-pocket to restore ...
Sonny Sach
Can I use accelerated depreciation in a syndicate?
Hi,Can accelerated depreciation be used in a syndicate to lower the tax burden?Thanks,Sonny
Rina Amir
Flood insurance in TX
Lee own a couple of SF homes in Dallas, TX in non flood zones but due to recent weather wondering if we should purchase flood insurance. It's ~$600 a year cost. Pretty expensive......
Any thoughts/advice? The bank do...
Daniel Flores
Accidental landlord Tax question
New job is going to take me away, having me moving from my primary residence and hoping to rent the house out. I am wondering how this is going to affect my tax liability on what was my primary residence. Don't want a...
Tom Sproul
Cost Segregation - Scale?
At what scale does it make sense to start exploring a cost segregation study? Does the cost of the study scale with the size of the investment? Who does these (not looking for specific companies), is it accountants,...
Bindu Somana
Renting a house bought initially to live in
Hi,
We currently live in a town home that we bought as a house for us to live in. We have lived for over 5 years and are now looking for a change. We are not in a position to sell the house as it is underwater. We wo...
James Defazio
Tax professional help needed!!
So this is the first year that I have not had a traditional job and w2 income to show at tax time as well we own 4 rental properties (one in which we live in one side of a duplex). We also did a short term rental on A...
Howard Gorman
Keep or Sell NYC Condo?
I am 68 years old and retired. I own 2 Condos in NYC. Both offer a positive cash flow. Due to current conditions, the rental market now is extremely competitive. One of my tenants is leaving. I have a few choices. I c...
Mansoor Fazel
BEST MARKET FOR A $500K MULTI FAMILY
Hey everyone! So I am in an exciting part of my real estate journey. I am about to sell my first property. I own over 10 doors, but have never sold one before. I have one that has appreciated substantially over the la...