Eric Sebast
First STR, Piney Point MD Question
Hey All,Looking for our first STR, and was looking in White Stone, VA, but expanded the search as there Isn't anything there ticking the boxes (looking for a 3 bed, 2 bath home right on the water with an expansive wat...
John Bernardo
Pass through LLC depreciation
I've spun up an LLC for my RE investing and rental management business. This is on the side, while I make $ as a salaried employee. The plan is to eventually leave the W2 job once the business grows to enough profitab...
Matthew T.
Limiting Tax liability as a flipping company
I started another LLC in 2017 with a focus on wholesaling and flipping homes. We held nothing in this company and sold everything no longer than 5 months. Our CPA is saying we will be classified as a dealer/trader a...
Nick Am
Setting up a management S-corp for managing rental property owned by an LLC
I own a rental property through a single member LLC (say LLC-A) and I am in process of purchasing another property under the same LLC-A. Currently, I am self managing all the operations. LLC-A is a disregarded entity ...
Robert L.
How to report flip fees in LLC tax return
Hi, I know this is a question for a CPA and I will schedule a meeting with him, but in the meantime, I wanted to see for those of you who might already know....I have an LLC that contains 5 properties and I have been ...
Justin Chappelear
Business Tax Question--Can I write off my personal bathroom???
Alright all, we followed the advice of everyone on here and started an S-Corp back in 2017 for tax purposes when flipping homes. Additionally, we own a duplex in the company name but that is not the basis for my quest...
Thomas Jackson
Qualified Opportunity Fund & Opportunity Zones?
Anyone have insight into these Opportunity Zones and Qualified Opportunity Funds? I’m more specifically interested in the Akron, OH market but I’m guessing all of the “Opportunity Zones” across the country provide the...
Alex Morstadt
Mortgage Note Accounting
Hello CPAs! I am struggling to get a definitive answer to the question - are payments from a Performing Note passive investment income or are they ordinary income? I have seen it described as both - and lets face it, ...
Giedrius C.
Lending for flips and dealer status with irs
After paid consultations with high profile CPA's who specializes in real estate I have contradicting answers to my question, I wonder what bigger pockets folks think about it.Question is will irs assign dealer status ...
Jasper Cooper
Can real estate gains offset short-term stock losses?
I had significant losses from the stock market from stupidly selling at the wrong time. Most were held less than a year.
This year I am selling an investment property. I’m trying to decide whether or not to do a 1031...