What will be tax consequences for borrower of rental house giving property back to lender through deed in lieu with following situation.(1) Lender issue 1099C , No deficiency judgement.(2) Lender don't issue 1099C , N...

Im in a wierd situation a leas purchase that i signed a contract for is going into foreclosure, my landlord has been taking my rent and not paying his mortgage, does anyone know what options i have at this point, woul...

Hi everyone,I am trying to figure out what the depreciation basis will be for the property that I will be closing in two weeks.I am buying a property with full cash, doing some minor exterior rehabs (place is already ...

In the third and final segment of Real Estate Tax Deductions, I want to discuss At-Risk Rules, Basis Issues and Excess Business Losses.
At-Risk Rules
An At-Risk rule is a tax shelter that limits the allowable deduc...

Hi All,Under the current tax laws is interior painting considered maintenance vs repairs?What about roof maintenance (replacing a few shingles)?I would like to have document references to support classifying these two...

Hi! I just had a, hopefully, quick question regarding my situation and if my assumptions about expenses are correct.  I'm currently rehabbing a property I bought and isn't "in service" right now. Not much has been don...

I have come across an opportunity to purchase a rental home from a friend. Currently has a long time tenant (8 years in the home and re-signed another year lease in December) paying $1600 per month. The house is value...

Just starting out with real estate investing and I haven't talked to the CPA yet.Let's say you have a day job that pays well, $200k/year.If you acquire 2 rental propertiesproperty 1rental income - expenses - mortgage ...

I am a homeowner and wondering if I can move out of my current home, rent it, and use a 1031 exchange to pay the current mortgage and home equity line of credit. Can anyone help with this question? Thanks.

Context: Seller is a foreigner to the US and special tax withholding must take place via FIRPTA/HARPTA. In the offer, the seller is requesting that we add this term to the contract:Request: “Buyers authorize Escrow to...