Grant Greenwood
Capital gains on partial release
Hi all,I have a two property portfolio under contract. The properties came in a package deal although I only intend to keep one of the two. I am confident I can find a buyer for the unwanted property but I want to mak...
Tom Rairdon
Tax considerations when selling a short term rental
Hello all,
Has anyone sold a short term rental owned over a year as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation? Did the proceeds from the ...
Lynell Sonoda
Avoiding captial gains tax without 1031 exchange
Hi BP, I am in the beginning stages of selling my home. I do not have a replacement property right now but was wondering if there is a way to avoid paying captial gains tax without doing a 1031 exchange? Per my accoun...
Cheryl Naegel
Capital Gains Indiana
Hi everyone! I just sold my Indiana rental property on December 5. I purchased it in 1994 and lived there until 1999. I then moved and rented it out until 2003. I then moved back in until 2004. It has been a rent...
Hadi Komeyl
RE semi-newbie in Toronto, Canada
Hi all,
I live in the Greater Toronto Area (GTA). I am Civil Engineering E.I.T (Engineer in Training), specialization: Structures (i.e. structural steel and concrete), in the GTA area. I have worked at a few consulti...
George Post
Closed On A Small Multi This Year- Should I Do a Cost Seg?
Hey Guys!
So I bought a 3 family in Feb. this year for $550k. I just refied and it appraised for $650k (Def. got a deal on it... it was off market!). It is still below market rents, but we are working up the cash flo...
Jason Williams
Cook island trust pay capital gains tax on US real estate sold?
Curious about tax benefits, if any, with a Cook island trust. If the trust sells a property in the US, is it subject to the same capital gains as a US resident or US trust?
Julio Gonzalez
Top Home Tax Deductions
Your house isn’t just your haven—it can be a financial asset too. Here are 10 tax tips every homeowner should know:1️⃣ Mortgage Interest Deduction: Deduct interest on loans up to $750K!2️⃣ Property Tax Deduction: Clai...
Donald DiBuono
Need Help Analyzing a Scenario
Hey!Bought a house in Cash - 152k. We put 17k into it. We have 2 options currently:Rent the property for $2,050 / month and cash flow $519 / mo orSell the house for 230k and we hold the paper at 6.5% for 3 years. Ball...
Jil Tin
Rent vs Sale of current home at our 50s while 12 yrs to Retire
Hello BiggerPockets,Basically we are looking to upgrade our current home to buy a single story home from current two story home of the same size in the same city san Jose. We are aged 55 and 50, we expect to work at l...