Mike Huang
1031 Exchange Proceeds with Existing Mortgage
Hi everyone,So I was wondering what you would do when you want to do a 1031 exchange but have a mortgage on your existing property.Say you're selling a house worth 500k but there's still a remaining mortgage of 300k. ...
Ari Newman
Can you (1031) exchange partial proceeds from a sale?
I'm not familiar with all the exchange guidelines. For example, if I were to sell a property and net $50,000 profit, could I elect to exchange $40K of the proceeds towards a new purchase, pay short-term cap gains on ...
Jimmy Jones
how depreciation is calculated
Hello All,I am trying to understand how depreciation of a long term upgrade (Solar) is calculated for tax purposes / understanding the real cost. My question does the depreciation directly offset net profit? Examp...
Dave Luu
Rental Property tax (F1040 Schedule E and F8582)
Dear All,
I have a question on my two rental properties:
One property has a profit this year ($2k profit, but carry over loss is $30K); The other property is a loss ($4k loss, carry over loss is roughly $25K).
Lo...
Rahul Gupta
DTI calculation for a vacation home mortgage- conventional mortg
Hello, We use our Airbnb in MN as a secondary/ vacation home when we are in town and usually are, about 3 months out of the year+ every now and then for a few weeks each time. The Gross revenue was about 31k while the...
Buddy Holmes
Why can't a Passive Loss carry over to off set LTCG from sale of a Passive investment
Help please in learning how passive losses can offset Cap Gains.
I watched Brandon Hall's great #45 Daily Smart Tax video but my Turbo Tax seems to have a different opinion.
Form 8582 calculates Passive loss Limitat...
Donald Dickerson
Being a Millionaire
Exactly what is the definition of a Millionaire?Net worth, but does that include the net worth you have in your primary residence, or is that excluded?What are the thoughts of our experts?
Schneur Sanowicz
Found a property that looks good want to hear feedback on it
Found an apartment building that's fully leased in Belle glade FL. I think it has great potential there are 7 units and it's priced about 50k per unit.The units are each 2 bed 1 bath and is netting an estimate of 450 ...
Tommy Ciccarone
What do the NNN’s stand for?
NNN stands for net, net, net. These pass through expenses of leasing are portions tenants or lessees pay in addition to the lease fee, or rent to the landlord or lessor. The NNN fees are property taxes, property insur...
Cory Brown
Do you include or exclude taxes?
Hey there,
When forecasting a return for a corporate investment structure, do you subtract state and federal taxes from your ROI calculations? *** I ask as it doesn't seem that the BP deal calculators factor in state...