Dario Miles
Capital gains with two co-signers
I'm hoping this question belongs here.My family bought a condo a long while back. I'm looking to sell, looking at a possible $330k in gains. The loan/deed has myself and my mom on it.We won't be filing a joint retur...
Michael Rinaldi
New IRC Sec 199A Tax News - Safe Harbor to Qualify
Hi BP Community,Today some tax news came out that is very relevant to the industry. I'm sure many are aware of the new Sec 199A deduction which essentially allows for a 20% exclusion of income earned for business owne...
Paul D.
1031 exchange just profits or all proceeds
I bought a house for 60k and am selling this month net me 80k and want to do a 1031 exchange. Do I have to escrow the 20k profit only or the whole 80k proceeds from the sell? Do I have to buy a property to defer taxes...
Mark Creason
1031 Keys
Having spent some significant time working with borrowers buying and selling property who are trying to complete a 1031 exchange, I thought I would post regarding my experience.1031 keys:1. Defer income tax.When selli...
Stephen Murray
Mobile Home Parks
I own a small accounting firm here in Suwanee GA and my partner and I met with a client today that has a mobile home park in KY that he wants to sell in a 1031 exchange for property down here in GA. He moved to Suwan...
Jonathan Hart
Alabama Tax Deed Use Question
Are you allowed to rent Alabama tax deed properties? What about tax certificates? Assuming that would note be wise just incase the original owners redeem the property within their 3 year statute? Tax deeds on the othe...
Gaurav Mehta
What qualifies as a Qualified opportunity zone business property
Hi,I am going through Form 8996 required to be filed for a corporation to be considered for Opportunity Zone. I have a few questions on what it means for a property to be a "Qualified opportunity zone business propert...
Josh LaRose
When to Incorporate
Good morning BP community - my buddy owns a real estate investing business in my hometown, upstate NY. He started offering an Apprentice program this past summer which I joined. It consists right now of driving for do...
Account Closed
Writing off expenses in tax return
Hello,I have a friend who bought his first duplex and did some bathroom reno. The reno job was done by my referral and the cost is very friendly - like under 5K in Boston. He claimed that he will file the renovation c...
Les Jean-Pierre
Tax implications of waiving rent
Hi, I posted in the landlord section but this might be better. I am in the midst of an eviction and am considering waging some rent to end the matter. Is waiving rent the same as a loss?