Kenia Crevoisier
You can deduct charitable donations even if you do not itemize
Hi BP members. I am CPA that specializes I real estate and international tax. I am also an aspiring real estate investor I hope to connect with other RE investors and share some of my tax knowledge with you all. I’d l...
Account Closed
Real Estate Rental Income as written by Kislay Shah CPA
Real Estate rental income is earned when a real estate is leased for rental income generation. Rental income generally is treated as unearned or passive income for income tax purposes. Rental income is reported on Sch...
Nobuko Morgan
Expenses to write off?
I have recently bought an really old house and my husband who is contractor has been working on the house.We are planning to live in and sell after 2 years.I wonder if any expenses can be written off. Any comments or...
Alik Levin
HELOC interest deduction - New Tax Law
Dear all,What's the definitive answer - and preferably pointer to authoritative resource - regarding deductability of interest on HELOC with the passage of new Tax Law? I do realize that HELOC interest deduction now o...
Marko Zivic
Investment Property (Out of State) to Primary Residence Exchange
Hi Guys!I have a client who lived in a SFH in Pennsylvania from June of 2013 until Feb of 2015. He then found tenants to convert it into a rental property and has been a rental property for him since April of 2015 to ...
Albert Xavier
10% Correction in Bay Area market after Tax Reform?
Hi Folks,I cannot understand why more people are not talking about this. Renter:Imagine I am a renter in Bay Area and I wan't to buy an average $1M home here in Bay Area and want to put down a decent 25%. My loan woul...
Gene Walker
Paperwork needed to allow tax deed redemption
I have a tax deed on a vacant acre of land and the taxpayer indicated she wants to redeem the property.What paperwork is needed to convey the property back to the taxpayer after they have agreed to the redemption amou...
Andrew Aladjadjian
1031 exchange: multiple parties, one property
Hypothesis:Party 1 owns an investment property and would like to sell and purchase a like-kind property. Party 2 also owns an investment property and would like to purchase a like-kind property. Both parties would lik...
Aariff Kadar
rental property tax related
I have a day job and i am planning to buy a new primary residence by renting out my current residence.
Questions:
I will get rental income of $36,000 and expenses of $44,000 (Includes mortgage insurance, property ...
Matt Good
SFR to multi family?
Can you 1031 your 1 SFR into 1 multi family or even multiple multi family's? Yes, it's an expensive house. I've been told that it has to be a "like" exchange. Please help!