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A friend wants to sell two homes, neither of which he can claim as his primary residence. One property he will likely have a $120k gain on. The other will likely sell for a $60k loss.
If he sells them in the same y...
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This is my first time investing in a syndication and I received a K-1. Box 19A had 'distributions' and there was a capital loss as well in box 1. My understanding is that I shouldn't pay any taxes on the distributio...
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Our goal is to develop a financial strategy for moving forward on purchasing investments this upcoming year. I think I have a decent plan of attack despite a recent setback, but would love to hear what advice the BP ...
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Hello,I made some crypto investments in late 2021 under Celsius Network since Celsius Network filed bankruptcy, is the money lost their tax deductible? Appreciate your inputs.Thanks
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My uncle was asking me this question the other day, and I wasn't sure of the answer.He asked, "If you lose money on a flip, can that loss be written off similar to how losses in the stock market can be written off?"
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I'm about to make an offer on a SFH portfolio. The owner passed in the last couple of months and his children are selling his portfolio. He's owned the homes for a long time and they are currently titled in LLC, I'm s...
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Hi,I am considering selling my rental property which I purchased for $380k 11 years ago and currently has a market value of $330k. I am not breaking even on the rent, hence rather sell. I am married with combined yea...
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Question to my fellow BP tax expects:Can I use nonrecaptured net section 1231 losses to offset capital gain losses from the sale of an investment property? Thank you!
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Hello all, I'm trying to figure out the opportunity cost of doing a 1031 vs. Taking the tax hit in order to have more liquid capital to invest. I'm getting a wide range of estimates as a novice and would really apprec...
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In the past we have given our private lenders a 1099-Misc to report their earnings with us for the year. I have a lender wanting to offset his earnings with us with some losses in other investments he made. Is there a...