Ting Liu
how to split capital gain tax with partner
I bought a building with a partner several years ago. But the building and loan were both under my name. My partner was not on any official record. Recently we sold the building. I'm just wondering how to handle the c...
Roy Williams
Real Estate Professional - IRS Audit
Hi Folks,
Our friends at the IRS are auditing my 2009 return, mostly because of my real estate professional designation.
I have a full time job and the rentals take up all of the rest of my time and I easily spend mo...
Zac Boelkow
Sold my primary by word of mouth
Investment Info:
Single-family residence other investment.
Purchase price: $132,500
Cash invested: $25,000
I just bought a new primary residence and because I am always talking, buying, and working i...
David Shertzer
Can I use 1031 to buy properties in my personal name to a LLC?
I own 3 single family houses in my personal name. I just started a LLC and purchased a house using it. If I flip the house in the LLC I should make enough to pay off 2 of my current rentals. Could I use a 1031 to buy...
Angel Harris
How to split profit from a rental?
Hello!Just looking for some general guidance—My husband and I own two rentals (single family homes) in Indianapolis. We are excited to buy our next property-but don’t have the funds to invest, yet. My dad (who lives i...
Rosa Aponte
Tax breaks / investing with another investor
I am merging with an investor who purchased a property as a flip. She is adding me to the deed and I’m paying for the rehab and listing the propery since I am a licensed broker. She is concern on how to split the ta...
Marc Cormier
Can a Probate Estate do a short sale?
Once someone dies and that person's estate enters probate. The executor is in charge of ensuring that the bills get paid, and the beneficiaries get any assets promised to them. One of the essential tasks the executor ...
John Garcia
2nd Home Finally Done!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $230,000
Cash invested: $50,000
A beautiful 3/2 home in an amazing location. A-class property, worked over a year ...
Michael P.
TENANT BASHES LANDLORD TO DEATH (SILVER SPRING, MD)
So sad.."Detectives spoke with doctors from [MedStar] Washington Hospital Center who advised that [the victim] was most likely not going to survive this incident," officers wrote in court documents.
https://wjla.com/...
Joseph Hammel
Future move tax implications.
Hello BP community. In a few years I may move to Wisconsin from Minnesota to be closer to my wife's family. All my rentals are in Minnesota. Most are in my name and a few are in a LLC in my name. The LLC ones just "fl...