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I bought a house to flip that I am using as my primary residence. I will have the renovations complete after 6 months of ownership and want to sell right away. This is my second flip (the first house I owned for 3 yea...
I am looking at buying my shop (It is a building and a barn on a .4 acre property with a fence surrounding). I am one of the 3 renters (I have a landscaping business). Total rents are 2050, taxes are roughly 3300, an...
Purchased property in 2017 and sold in 2020. It was bought under my S-corp. I know that S-corps file 1120s but where does the sale of property go? Schedule D or Form 4797? What about the closing costs? I should includ...
Hi all - I have a few questions surrounding the idea of having an LLC or some other form of entity. For background I do not have one currently and only have one rental property that’s a single family home but am tryin...
I started a discussion about the flip I did in Spokane WA, and I created a topic on that. I thought I would start a new topic on my challenges to get a refund back from IRS.The short story is I bought a property in No...
We are a two-member LLC (for real estate buy and hold investing) where each member has 50% ownership. Each member contributed equal amounts upon opening of LLC earlier this year and there have no distributions to date...
I am curious what vehicles are being used to not pay capital gains tax.
Situation.. flipped house with LLC, will have six figures at closing in a couple months. Will I be relying solely on the expenses I can run t...
Hello BP,I have read a few forum posts about using SDIRA as a means of private lending. I still am not sure how to go about doing this, and what would be the up front costs to me or the lender (I.e. my parents) if don...